What is Credit Repair?

A lot of people would love to improve their credit scores, but it is not always clear how this can actually be done. Credit repair firms can improve credit in the following ways:

  • Mistakes on your credit report:  Sometimes lenders and credit bureaus simply make mistakes. Going through the report with a fine toothed comb and catching these is the surest way to improve a credit score.
  • Details that cannot be verified: Every detail in the credit report needs to be verified. So if you have a negative item from a business that was bought or closed, the bureau will not be able to verify. Sometimes, the business just doesn’t want the hassle of looking it up and verifying, in which case the bureau has to remove it.
  • Credit repair firm working with lenders: The credit repair agencies that have been doing this for a while know the tricks of the trade. They will negotiate with lenders for you and in some cases end up raising your score.
  • Legal Loopholes: There is a lot of regulation concerning reporting and procedure that lenders have to follow before they can put a negative item on your credit report. However, it is not worth the time or energy for most of them to follow all these rules, as so few people actually know about this. However, this is where a credit repair team with a strong legal background can be hugely valuable. They know the law and can catch all the little missteps lenders have made. Credit bureaus then have to invalidate the negative items.

Helping individuals work towards home ownership.