We hear you… and you are not alone! The Federal Trade Commission (FTC) found that 5% of consumers have serious errors on their credit reports that cause them to pay more for home and car loans, insurance, and other products. That means about ten million consumers are paying more for loans and products than they should.
The Fair Credit Reporting Act mandates that information on your credit report must be accurate. Companies that provide information to the credit bureaus have specific legal obligations to investigate disputed information on your files. Therefore, if you believe the information is not accurate, you have the legal right to challenge it and request a reinvestigation.
We will write several letters to the credit bureaus and if those items can't be verified, they should to be removed. We, however, cannot guarantee that removal.
This service is known as “credit repair.” It is the process of “fixing” credit standing that may have deteriorated for a variety of different reasons.
Low credit scores often translate into larger down payments and higher interest rates on purchases - terms that place an undue burden on household budgets and often result in high rates of bankruptcy and default, which in turn lower credit scores even more. This is a vicious cycle.
This step is for us to get to know you and understand your concerns. We want to meet you face to face and talk about you goals. Also to determin if our program is a good fit to help you.
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This is where we do a deep-dive into your credit file and discuss your trade lines that are hurting your credit. Here is where you have the opportunity to tell us more about your accounts and we give advice on what could be done. We also the time to explain how credit scores are calculated.
At this stage we send letters to the credit bureaus requesting a reinvestigation of the information you disagree with. We also monitor your reports to see if there are any changes based on our request.
In some instances, consumers have tin credit files and so we advise them on strategies that will help them to build their credit based on the various categories of credit scoring.
Most of our clients are desirous of purchasing a home after credit repair. We help them to understand the home buying process so the know what to expect and how to prepare to purchase their first home. Additionally, because of our partnership with Rocket mortgage, we can get them a pre-approval letter if they qualify.
It’s not illegal for the credit bureaus to report inaccurate information, but it’s illegal for them not to correct it when given proper notice.