A lot of people have asked me about Credit Restoration Companies. Hopefully, the attached form will answer your questions. Feel free to ask my any additional questions on here anytime:
I though credit bureaus were official governmental agencies and that I didn’t have much say in what was on my report.
Nothing could be further from the truth. There isn't anything governmental or official about the credit bureaus at all. In fact, the major consumer reporting agencies -- Equifax, Experian, and TransUnion -- are just three large publicly operated companies.
Sadly, many creditors have perpetuated the belief that the credit bureaus are official, quasi-governmental agencies and will somehow punish consumers who dare to fight back. Such creditors want consumers to believe that challenging a credit report item is like questioning a courthouse record. Thankfully, that is not how it is.
Are accurate items required by law to stay on my credit report for seven years?
REPAIRING YOUR CREDIT LEGALLY
Why credit repair?
In the United States court system, you are presumed innocent until proven guilty. However, it seems like in the credit system, you are guilty until you prove your innocence. The credit companies collect and distribute your private information without your knowledge at times and without your permission.
So if credit bureaus are going to collect and sell information about you, they should also have the responsibility to make sure it is accurate and up-to-date.
Shouldn’t they? The sad truth is that “NO” they don’t have to make sure it is accurate. With that in mind, here are some questions many people ask regarding their credit.
Do I need an attorney? Can’t I do this myself?
Yes, you can. It is possible to fix your own credit, be your own attorney, be your own CPA or build your own home. With the right amount of time and energy you can learn to do anything. So yes, you can do this on your own. But just as you might not choose to repair you own vehicle, it isn't necessary to tackle credit repair alone.
Working with a credit attorney is best. They work day and night, to protect your rights, according to the applicable consumer protection laws. And because they are professionals, they can do it faster and more efficiently than you as a layperson would. So the question is - how valuable is your time, aptitude and inclination to learn this work?
Is it legal to repair my credit?
Of course it is! Licensed lawyers could not engage in credit repair if it were illegal. The credit companies are the ones who have spread the misconception that credit repair isn’t legal.
The Fair Credit Reporting Act (FCRA) gives you the right to accurate credit reporting. Exercise that right by having your questionable credit listings either verified as accurate or removed from your credit reports according to the law.
I though credit bureaus were official governmental agencies and that I didn’t have much say in what was on my report.
Nothing could be further from the truth. There isn't anything governmental or official about the credit bureaus at all. In fact, the major consumer reporting agencies -- Equifax, Experian, and TransUnion -- are just three large publicly operated companies.
Sadly, many creditors have perpetuated the belief that the credit bureaus are official, quasi-governmental agencies and will somehow punish consumers who dare to fight back. Such creditors want consumers to believe that challenging a credit report item is like questioning a courthouse record. Thankfully, that is not how it is.
Are accurate items required by law to stay on my credit report for seven years?
Not at all. The law limits the length of time that negative items can remain on your report to a maximum of 7 years. But the credit bureaus are able to delete these negative items any time they deem fit.
Am I required to know all the details of my credit report before I seek help?
Nope. Most of my clients were not even aware of all the negative things on their reports until they were denied credit. Our team can let you know right away what items need to be taken care of.
How much time will it take before my credit is restored?
No one can predict how long a case may take. Every single case differs substantially. It would not be right for any company to state just how long any one case would take.
But, if you properly forward your credit reports in a timely manner, you are likely to see marked progress in the first two months. After that, advancement will be at a pretty steady pace.
On average, it takes about 6 months to complete the credit repair process. Occasionally though, more complex cases take longer. A lot of your progress will depend on how quickly you forward the information you receive, the specifics of your case, and the cooperation from the credit bureau(s).
Must I pay off negative items (like collections) before they can be removed from my credit report?
Absolutely, not. Paying off a negative item doesn’t affect whether or not it's shown on your report. But please realize that erasing an item from your report does NOT excuse you from payment of your debt.
It just means that it will not appear on your report when a potential credit grantor is viewing it. If you choose not to settle an unpaid item it may put you at risk for the creditor taking additional action that can again destroy the credit you have just worked so hard to repair.
Will paying off all of my bills return my credit to good standing?
Although this is a very logical assumption to make, unfortunately it is not true. There is nothing logical about the credit reporting system. An item will actually appear on your credit report longer if you pay it than if it goes unpaid.
This is because any activity causes the seven-year time clock to reset and begin again. In the majority of cases, when you don't utilize professional help, you will not get too far by paying off the old debts. Regrettably you may sink even further.
Will deleted items go back on my credit report?
When an item has been deleted, occasionally, verification comes in later on behalf of the creditor. The Fair Credit Reporting Act recently modified its language to keep items from being re-reported on your report.
Also, you must be informed before an item that was taken off before can be reported again. Once removed, it is quite unusual for a listing to show up again. If an item is re-reported, it is a simple matter to challenge the listing again and press for permanent deletion.
Will I establish a new Social Security or Tax ID number, or receive a new credit line?
Absolutely not! These methods risk loss of freedom, income, and community standing. If you see an advertisement for "NEW CREDIT FILE OVERNIGHT," steer clear!!!
Is there any guarantee with credit restoration?
As with any legal work, no specific outcome is promised. No lawyer could ever promise a client that a judge would find them innocent. However, the company I have chosen to work with is backed by a refund policy which entitles you to some or all of your money back if enough questionable items are not removed.
Will I be approved for credit if I sign up for credit repair?
As long as you have a clean credit report and meet the other requirements of the credit grantor, you should be approved for credit. In many cases, we can help you establish some new credit as well.
What’s the process when I sign up?
You will receive credit reports from each of the three primary credit-reporting agencies on a regular basis. You should forward these to the company that is helping you if you have chosen one. You should see items being removed from your report as you receive them.
It won't happen all at once- like losing weight; each time you weigh yourself you see that you're a little bit closer to your goal, and with patience you reach it.
What do I have to do?
Call my office and let’s talk about the credit repair companies I recommend. We can decide which one is best for you. Then I will help you get the ball rolling by making sure they have a recent credit report, an application from you and your contact information. I look forward to hearing from you!
Jeff Porter
801-302-9180
Credit Repair site: http://640orfree.com/16372846
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