May credit repair services really help you improve your credit history? The reality is that there are only two instances in which credit repair services can actually make a difference in your credit history, and neither one of them consists of erasing your bad credit. So if you get a promise from a credit repair that, for a fee, they will remove your poor credit, run the other way!
The only time a credit repair services can erase a record of bad credit out of your credit history is if the bad credit score results from identity theft or scams. The other credit repair the is able to do is to correct clerical errors within your personal information like your name, address, gender, or marital status.
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Identity Fraud And Fraud Repair
Credit repair services will certainly sometimes need months to clear poor credit resulting from fraud or identity theft, because they will have to send the particular victims’ documentation of the problem to the credit reporting agencies, which will investigate and document everything on their own. Once they have established that fraud or identity theft has occurred, the bad dealings will be removed from the credit history, repairing the credit score of the person who has been victimized. If you are a victim, you are going to most definitely benefit from having one of the credit repair services assist you.
If you try to prove identification theft or fraud on your own, you might find yourself stonewalled by both your creditors and the credit reporting agencies who put together your credit history. Even the credit repair services often have to wait for your documentation to wend its way through the bureaucracies at the credit reporting agencies, but the time it would consider and the aggravation you would experience if you tried to do it on you own might make you decide that it is simply not worth the effort.
Can You Repair Past Credit Abuses?
If, on the other hand, your bad credit history is of your own doing, because of regular delayed or missed payments, or bankruptcy, you will be stuck with your report until it is automatically erased after a specified time, which can be several years.
There are credit repair services which do not actually attempt to change your credit history, but act as advisor’s in helping you find ways to keep your spending under control and to pay down your debt. Their own staff will be happy to work with you as long as you are making an honest effort to be financially responsible.
If you request a copy of your credit history each year plus review it for mistakes within your personal information or inaccuracies in your payment history, you can fix any errors by writing a letter to the credit reporting agency, including documentation from the mistakes, and asking for an investigation. Maintaining your credit history accurate is essential because you might have to undergo a credit check when you obtain a loan or a job.