Credit Repair Service
Can a credit repair service help you fix your credit report and fix your credit score?
According to federal legislation, CROA, a credit repair service can work with a consumer to hold credit bureaus, creditors, and collectors accountable to credit reporting rules.
To start with a credit repair service should request, and review with you, copies of your credit reports and credit scores from the three major credit bureaus. A credit repair service will interview you and review your credit reports for unauthorized accounts, inaccurate reporting and errors.
After a credit repair service examines a credit report and finds it contains errors a credit repair service can take action. Under the law, the credit bureau, creditor, and collector are obligated to report accurate information.
Below are questions you should ask yourself as you consider using a credit repair service:
• Does the credit repair service provide, upfront, and for free, a credit repair evaluation including analysis of your income, expenses, credit reports, credit scores and credit repair service needs?
• As part of your free credit repair evaluation have you been advised on how to access and monitor credit repair progress including how to review your credit reports and credit scores every 30 days?
• Does the credit repair service offer no upfront fees and no long term contract? Can you cancel your credit repair contract at any time?
• Finally, does credit repair service pass the smell test? Does it make sense? Do you understand the scope and objectives of the credit repair plan? Does the credit repair plan sound realistic and doable?
