What does a credit repair specialist do

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Redd Ink Credit
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What Does a Credit Repair Specialist Do?

• The market today offers many different kinds of
  credit score improvement services, but one that
  is very effective and useful to almost anyone is
  that of the credit repair specialist. Credit
  repair specialists help prepare the appropriate
  letters to credit bureaus and debt collection
  agencies. Credit repair specialist help prepare
  the appropriate letters to credit bureaus and
  debt collection agencies. These letters should be
  specific to your credit information, not general
  dispute letters that can be ignored by credit
  bureaus.

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Credit Repair Companies Vs Credit Repair
Specialists

• Credit repair companies will attempt to help you
  fix your credit score by mailing letters on your
  behalf. These services are pretty common, and
  theyre often referred to as credit repair
  companies. When you search online for credit
  repair services or credit score improvement
  services, youll find numerous companies
  advertising their services for a fee. In many
  cases, these fees may be more than it costs to
  simply get your reports from each of the three
  major credit bureausEquifax, Experian, and
  TransUnionand handle everything yourself.
• Credit repair companies may not even use
  professional letters or go through all of their
  stated procedures, which can make them less
  effective than doing it yourself with a little
  guidance from a credit repair specialist. This is
  why some credit specialists will charge an hourly
  rate rather than taking money upfront.
• Since theres no upfront cost to get started,
  credit specialists can work on building
  relationships instead of spending time soliciting
  clients to secure payment. And when credit
  specialists dont have clients lined up in
  advance, theres no need for lengthy contracts
  that restrict what they say about their work in
  public forums like social media or online review
  sites. This allows them to build positive
  references in real-time without having to worry
  about hurting their business when something goes
  wrong later down the road.

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How To Choose A Credit Repair Company Or Credit
Repair, Specialist

• When disputing information with credit bureaus,
  you can request a correction by sending a letter
  detailing your dispute. The Fair Credit Reporting
  Act requires credit bureaus to respond in 30 days
  and investigate your dispute, but it is rare for
  them to respond in that time frame. It may take
  several months before you hear back from them, if
  at all. As long as they cannot validate any of
  your complaints with documentation proving that
  you owe money on an account or loans, they must
  delete or correct your account information. They
  are not allowed to add new information about
  negative marks unless there is verifiable proof.
• Correcting your credit report will likely
  increase your score when reviewed by lenders.
  Credit repair specialists also specialize in
  helping consumers bring their credit scores up
  from low levels, such as 300s and 400s, to higher
  levels needed for loans. This might be something
  you want help with if you have been denied credit
  due to having poor credit scores.
• If so, hiring a professional credit repair
  specialist may be worth considering. Now That You
  Know How Credit Repair Companies Work If you
  need help fixing your credit but do not want to
  pay a fee each month while awaiting results, look
  into these free tools which can help people fix
  their own damaged credit reports
  www.annualcreditreport.com allows you access
  into two of your free annual credit reports once
  every 12 months through one site.

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Disputing Information With The Credit Bureaus

• Like other third-party agencies, credit bureaus
  have their dispute process. The Fair Credit
  Reporting Act (FCRA) governs how credit bureaus
  should respond to disputes by consumers. In
  general, you can either mail letters to dispute
  information or contact them online. In all cases,
  your letter should include your name and address
  as well as a list of each account or listing you
  want to dispute and why you think it is
  inaccurate. Include documentation that supports
  your positionlike receipts or invoices showing
  what you paid for an accountif possible.
• The Fair Credit Reporting Act requires credit
  bureaus to investigate disputed information
  within 30 days of receiving notice of its
  inaccuracy if they dont investigate it within
  that period, they must remove it from your
  report. If you are not satisfied with the results
  of their investigation, state law gives you up to
  60 days to file a formal complaint with them
  about how they handled your complaint.
• If they still do not change or delete inaccurate
  information on your credit report, send copies of
  all correspondence related to your dispute
  directly to each credit bureaus customer service
  department with any supporting documents you wish
  to provide.

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Dealing With Debt Collection Agencies

• When dealing with debt collection agencies it is
  important to remember that they are likely not
  going to listen to your request. The best thing
  you can do is put together a packet of
  information that shows exactly what your credit
  score was before and after.
• Explain why you were unable to pay on time if
  thats what happened, and how you have addressed
  those reasons by making an appropriate amount of
  payments each month. You should also keep
  documentation of all payments made as well as
  canceled checks or even receipts for purchases
  that were used to pay off debts.
• If you do not dispute their claims with proof,
  then there is nothing they can do for you either
  way. However, there are times when doing so may
  help resolve issues quickly without any
  unnecessary headache for either party involved.
  There will always be a handful of cases where
  individuals face illegal collections practices,
  in which case seeking legal advice would be in
  order.
• Individual identity theft occurs whenever someone
  obtains personal information to assume another
  persons identity in some way.

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Contact Us

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