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What happens at credit repair?

By Derek Brown
Published: Sunday, March 28th, 2010

Credit repair is a process where a company takes action at inaccuracies of your credit report. Anyone can do it, but with a repair company, it is a no-hassle process for you—all for a price of course. Always less of the stress, the repair will handle all the negotiations, contacting credit bureaus, and follow up-s to verifications.

After having all your queries answered and choosing a trusted repair company, what happens is a series of steps to finally fix the inaccuracies. There will be analysis of the credit report with regards to your complains. Aside from these, finding more errors can be made. You will be informed about these and the processes that will take place right after.

A dispute letter will be made using a format. This will be sent to the three credit bureaus, TransUnion, Experian and Equifax to let them know about the disputes. Follow ups and verifications will be made to settle the errors, which may include wrong personal information, change of address and reporting purchases that were not made by client but was part of the credit report.

Having a report repair agency work on the problem will also help in the detection of identity theft. It has been reported that inaccuracies in yearly reports are probable basis of theft. The earlier discovered, the earlier fixed.

You do not want to pay for the penalties that you did not make and you do not want to be put to blame for inaccuracies that you did not wish to come out in your credit report. So seek for the best and know that you will always have options.

However, be on the lookout for the following signs, 1. Requesting payment before actual actions are done 2. Pertinent information which you ought to know is concealed from you and 3. Having hidden charges especially if they say you would get it for free. When you encounter any of these, one should think twice of getting the services of that particular company.

The repair won’t take long if there are less inaccuracies and you know the purchases that you have made. It is important what you know about the inaccuracy and the skill of the repair company will handle everything else. It is best to get a company that offers 24 hour service, so that anytime, you can contact and ask for progress reports.

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