| What We Do
Credit Reports are Filled with Errors
Credit bureaus don't keep very good records. In fact, there's at minimum a 1 in 3 chance that your credit report contains mistakes ... and that's on the LOW end. The Charles Givens organization estimates that an unbelievable 90% of credit reports contain mistakes!
So it's clear that, using even the low estimate, it's extremely likely that accounts in your credit report have mistakes, or may not even be your accounts at all!
But worst of all ... even ONE mistake can result in you being turned down for credit!
The Fair Credit Reporting Act
In 1972 the US Congress passed the Fair Credit Reporting Act (FCRA) to address these abuses.
This law grants the consumers certain rights under the law in reference to credit reporting, among them the right to insist that credit bureaus verify information in their credit report the consumer believes is being reported inaccurately.
We Examine Your Report For Inaccurate Information
We all well-versed in consumer rights under the Fair Credit Reporting Act, and with the remedies available to you to make sure that everything in your credit report is being reported accurately.
We will analyze and evaluate your credit report and look for items that we think, based on our expertise, have a high likelihood of inaccuracy. After identifying possible items of concern, we will guide you in requesting review and verification of their accuracy by the major credit bureaus, as required by the FCRA.
What Types of Errors Can Take Place?
- Details of an account are not being reported accurately
- Accounts are not yours
- Paid off accounts are not shown as paid off
- Account was always paid on time but shows late payments on the credit report
- Accounts that were paid off shown as turned over for collection
- The details of a mortgage are being reported inaccurately
- You applied for an account but never opened it
- Your account was not credited with payments that you had made
- Employer information is incorrect
- Incorrect salary
- Wrong address
- Wrong social security number
- Reports legal actions as pending that were already settled
- Incorrect credit limits
- Account closed by you is shown as closed by the merchant
- Report incorrectly shows you as having filed for bankruptcy
- An account was opened by your child in your name
- Bankruptcy being reported as pending although it has been discharged
- Car loans that were paid off shown as still open
- Report shows settled foreclosures as still pending
- Report erroneously shows pending legal actions
We Set Up a Plan of Action
In discussion with you, we will prepare and implement a plan to help you confirm that all the account in your credit report are being reported accurately ... to confirm that it was you in fact who applied for all the accounts in question, and that every detail of those accounts is being reported correctly.
We will guide you in implementing the strategy, and we will work together in the execution of the plan until any and all inaccurate information has been corrected.
We Analyze Other Issues in Your Credit Report As Well
There are issues other than negative accounts that can cause you to have a low credit score. But unfortunately this is where a lot of "Credit Repair Agencies" quit!
But we don't stop there. We go beyond just challenging account information in your credit report.
Were your aware that the number of requests for your credit report can lower your score? And because the credit bureaus are so bad at keeping records accurate, there's a high likelihood that requests were made that you did not authorize (as required by law).
Yet another matter that bears careful attention is the "debt ratio" ... your level of debt compared to your "credit limit." We also help you modify this ratio to raise your credit score.
"Types" of debt also affect your credit score. Too many debts of the same kind (revolving or installment debt) also negatively impact your score. We'll look for difficulties in this area and help you to achieve a better balance. |
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