Credit repair agencies often say they can remove bad credit from your credit report, legally. This isn’t true. No one can. Simply don’t believe them. Do your own research.
The law entitles you to be able to ask for an investigation of information in your credit file to is considered to be inaccurate or incomplete, or misleading. This is a free service. Indeed anything a credit repair company can do for you, you can actually do for free or little to no charge yourself. So why not do it yourself?
The Fair Credit Reporting Act (FCRA) states that:
o You are entitled to get a free report if any company refuses you credit such as a loan, credit card, mortgage, etc. as long as you ask for the report within 60 days of the decision against you. If you are unemployed you are also allowed to apply for one free view of your credit report. This also applies if you are on welfare, or if because of fraud or ID theft your report is inaccurate.
o Each of the three national consumer reporting companies is required to provide you with a free copy of your report once every 12 months. These three companies are Equifax, Experian and TransUnion. You ca order your report from a central website by downloading this form ftc.gov/bcp/conline/edcams/credit/ and sending it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The telephone number is: 1-877-322-8228. You may order one report from each of the three companies in the same application, for no charge.
o Also without charge, you can identify and dispute mistakes or out-of-date items in your report. Once more, under the FCRA, both the consumer reporting company and the information provider (that being the organization, company, or person that gives information about you to the consumer reporting company) have the responsibility to correct information in your credit report that is wrong or incomplete. Contact these companies to take full advantage of your rights under the FCRA law.
Once you have followed these simple but highly effective procedures you will be much the wiser about why you may not be getting the credit you deserve. And, even better, while a credit repair company might charge you, you can get these services at no charge if you make the enquiries yourself.