Does anyone know the steps to repairing credit? Someone told me there were ways of just sending letters to get stuff removed form your credit, is that true? place i can go to get these letters for free?
2007-07-03 07:05:56 · 9 answers · asked by Steele B 2 in Business & Finance ➔ Credit
There are a few very good credit discussion boards, like creditboards or creditinfocenter, that are totally free to use. Never pay for information that you can get for free.
Click on Forums on the sites and you will find sample letter templates, discussions about credit repair, etc.
You should also do some reading in the FCRA and if you are dealing with collectors read the FDCPA.
2007-07-03 09:26:37 · answer #1 · answered by echo 7 · 0⤊ 0⤋
Yeah it's true. I used to work for one of those credit repair companies, 4 weeks but I got the idea of how to do it. The fair credit reporting act made it that you can dispute any credit reporting on your report. If you dispute something, the credit agency has 30 or 60 days (I forget) to prove the legitimacy of the credit reporting. 60% to 75% of the time, they don't have the time to do it and have to take what you are disputing off as a result. Read the fair credit reprting act, write the letters yourself quoting the 30 or 60 day limit they have and then follow up. Keep in mind, say you owe citbank $3,000 from a credit card you had in college and you get it taken off your credit report. When you call up citibank, they will still ask for thier $3,000 ebfore giving you a new card. All this disputing does it take it off your report.
2007-07-03 14:12:39 · answer #2 · answered by Amazon Woman 2 · 0⤊ 0⤋
Someone told you incorrectly and completely wrongly. The only action you can take with your credit report(s) is to ask for a free copy from each of the three major credit reporting bureaus, check what is in your file, and request removal of any items which are not valid and correct. If all the information contained therein is correct, you live with your credit history until time passing clears it up.
2007-07-03 14:08:59 · answer #3 · answered by acermill 7 · 0⤊ 1⤋
You can challenge any item on your report, and the reporting company had a specific number of days to complete an investigation. Get copies of your reports and write your challenge letters listing each specific entry you want to challenge. Then wait for December 8th and send them certified mail. A lot of people take vacations in December and early January. The work load builds up and your chances of winning by default due to missing the deadline go up.
2007-07-03 14:12:15 · answer #4 · answered by Automation Wizard 6 · 0⤊ 0⤋
Call Experian, Trans Union, and Equifax. You should be able to get one free credit report a year. Then they will also send you information on how to dispute what is on your credit report. If they don't do it you can always contact an attorney.
2007-07-03 14:09:13 · answer #5 · answered by Kogie 2 · 0⤊ 0⤋
Only if there are errors.
Valid entries of negative items will stay on for 7 years (or 10 if it is a bankruptcy.)
Anyone who offers to remove VALID negative items, for a fee, is a criminal, and will rip you off.
2007-07-03 14:09:30 · answer #6 · answered by No Chance Without Bernoulli 7 · 0⤊ 0⤋
I had the same problem, I have applied online here http://www.financeconsultant.org/creditrepair.html and within couple of days they solved my credit score problems.
2007-07-03 14:19:21 · answer #7 · answered by Anonymous · 0⤊ 1⤋
get a copy of "Life After Debt" by Bob hammond.
2007-07-03 14:38:59 · answer #8 · answered by Anonymous · 0⤊ 0⤋
You can remove anything as long as it's untrue.
Anything that is on your credit that is true can not be removed by anything except time.
7-years for most things, 10-for chapter 7 bankruptcy and 15-for tax liens.
2007-07-03 14:13:48 · answer #9 · answered by ? 7 · 1⤊ 21⤋