Credit Report News, Tips & Advice
Website CertifiedPrivacy Protected

How to do a Rapid fix for your Credit Reports

By Andy Snyder
Published: Tuesday, February 2nd, 2010

Credit reports are important documents that are known for their imperfections. The erroneous reports credit bureaus are mostly generating are causing troubles to both the lenders and consumers. 

Too many people are denied of loan services and are subjected to high interest rates as a result of having low credit scores which may be caused by inaccuracies in their credit reports.  Lending professionals are also having their share of misfortune in this picture since errors in credit reports give low credit scores, fewer and fewer applicants can be considered for loans. Lenders’ business is, obviously, lending money to people thus having a large percentage of the population falling under low credit scorers, would mean fewer people can really be credit worthy and would also imply less business on their part.  

Every problem has its own way out. Unfortunately, having these credit report errors corrected will really take time. Neither lenders nor consumers benefit in this case and so to address this issue independent credit reporting agencies come up with rapid rescoring services.

This innovation in the credit industry hastens the dispute process on credit reports. This credit rescoring can fix credit report errors in the fastest way so far. It can compress the month-long waiting and processing of the old ways of dealing with clearing credit report inaccuracies into typically 72 hours. 

Scams relating to this innovation also are wide spreading so we must be careful especially because rapid rescoring is not a free service. Some people might deceive us and make us pay for a service they cannot render. 

Just like the credit report advice on knowing what establishment can do and cannot do for the consumer, we must also be educated on what legal rapid rescoring can do for us so that no one can have us fooled. 

Rapid rescoring cannot remove negative items such as late payments. But it can have it fixed if the creditor would verify that it was an on-time payment recorded as late. Rescoring cannot do something about your too much debt that you cannot settle yet but it can clear your too old accounts, meaning those debts that are more than 7 years old. This innovation cannot take care of any dispute you are currently working on but it can remove accounts that were placed under your name by errors. 

These are the things that a rapid rescoring company can and cannot do. A credit report advice: remember these things so you may know when to trust people offering such help and when not. 

If you are trying to have a major purchase like a house or a car, having your own error-bound credit report fixed in the fastest way possible will really help a lot. This accelerated method of fixing your record will also ask someone from you, aside from the fee, it needs you to prepare supporting documents or written verification and agreement from your creditor that an error really has occur on your account with them. So as a credit report advice, help reduce the time element in cleaning your messy credit report by preparing evidence. 

Rapid rescoring system is making a huge difference in processing dispute but this must not be a reason for you to refrain from being watchful of your credit records. It is still wiser to follow credit report advice on how to prevent errors on your file and unlike rapid rescoring this one is for free.

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.