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Credit Repair Companies – Protect Your Credit Score

Credit repair software allows consumers to quickly improve their credit scores and fix errors and wrong information on their credit reports. Using the right software is an essential step for building a solid credit history. In this economy, the average consumer’s score has decreased by about 200 points due to fraud and identity theft.

The time it takes to fix a bad score is much longer than just revising one inaccurate entry. Many consumers find that they have made a mistake that was not reflected on their credit scores. This can be a frustrating situation because many consumers are struggling to make ends meet and make sure that all of their financial obligations are met. In this case, they turn to credit repair companies for help These companies will check the credit reports that consumers have and determine what changes need to be made. However, there is a difference between fixing incorrect entries and fixing poor credit scores.

There are some credit repair companies that work with consumers that have negative entries in their credit reports for reasons other than identity theft or mistakes. For example, they may report a late payment as a positive entry. Consumers that have filed bankruptcy may also have negative entries in their credit records. When a negative entry is reported, the company will attempt to contact the credit bureau and try to correct the misinformation. However, the debtor has no way to know what companies have fixed the problem unless they use the services of a credit repair organization.

A credit repair company can easily search for inaccuracies and incorrect data on credit reports using large databases. The credit repair organizations then contact the credit bureaus and explain the problem to them. Sometimes, the credit bureaus do not find any errors. On other occasions, the credit repair organizations can convince the bureaus to remove incorrect information. Once this is done, the credit repair companies can help the consumers improve their scores.

However, there are some regulations that apply when it comes to hiring professional services. The federal Fair Credit Reporting Act restricts how the credit repair organizations can act. These laws specify what the credit repair companies must do and what they can ask their customers. Also, the Fair Credit Reporting Act allows the agencies to contact any third party regarding a credit repair case if the agencies have written permission from the person that they are contacting. This means that the companies must tell the person’s name, address, telephone number and where they can be reached if they want to receive more information about a dispute.

The Fair Credit Reporting Act does not require the agencies to tell the customer why they are removing the inaccurate information. They are required only to provide the customer with the correct information. It is the credit repair companies’ responsibility to find the inaccurate information and make the corrections. If they fail to do this, the customer is allowed to make a complaint under the FRCA to the credit bureaus.

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