Credit Repair, Does it REALLY work?

As a well known finance and credit guru I am commonly asked if credit repair really works. Credit repair can be an extremely effective tool if performed the right way.

Be careful who you choose because many credit repair companies collect money from consumers for credit repair services, but the services they perform are nothing more than mailing the credit bureaus simple dispute letters.

Some companies perform only a few simple disputes, for example it might be disputed that the consumer was never late on an account. The hope is that the creditor will not reply to the dispute letter and the items will be magically removed off the credit report as a result. These types of disputes depend on ignorance or human error to be effective.

Over the last few years the credit bureaus have wised up to these credit repair methods. To counter, the credit bureaus now use sophisticated computer systems named E-Oscar and OCR.

The credit bureaus E-Oscar and OCR computer systems filter letters which appear to come from credit repair companies then delay tactics are implemented to slow down or stop the repair process. The credit bureaus computer then processes the dispute electronically nearly eliminating any kind of human error.

The credit bureau computers now render these types of disputes minimally effective. Some items will get deleted to simply be placed back on the report a short time later, and typically the only accounts that will be permanently removed are older accounts creditors no longer care about.

BUT, all hope is not lost

TRUE credit repair is actually very effective, but it also is time consuming. Accounts have to be disputed to the credit bureaus in a mythological manner and the most effective disputes are done direct with the creditor themselves.

There are hundreds of laws designed to protect consumers such as FACTA, HIPPA , The Fair Credit Billing Act, The Fair Debt Collection Practices Act, and many more laws which can be used to get your negative credit items permanently deleted.

Many creditors blatantly ignore and violate multiple Federal laws with the hopes that you will not have the knowledge or time to be able to challenge them.

Most people do not possess the legal knowledge to defend themselves. You would have to spend endless time learning all of the hundreds of consumer protection laws to know enough to challenge your creditors successfully on your own.

Using Federal and state law violations as leverage to force creditors to delete negative items is a VERY effective repair tactic. Credit companies who do this and participate in direct creditor disputing typically see deletion rates of 70% or higher.

The drawback is in order to delete your negative accounts; you will spend countless hours learning how to dispute your credit items. Or you can find a highly recommended professional company to do it for you instead. But make sure you find a reputable credit repair company.

There are only a few truly 100% legal credit repair companies in the United States. One of the largest and best companies who produce the fastest results is Elite Credit out of the Tampa Bay area in Florida (www.perfectcreditfast.com.) I have personally seen their credit results, and even I am impressed. You will not find better or stronger results at such an affordable price anywhere.

Or you can visit credit forums and start learning how to try to fix your credit your own. Whatever you do, do not decide to do NOTHING. Credit problems are estimated to cost an individual consumer over $1,000,000 over a 30 year time period.

Strong dispute methods should remove over 70% of your negative items, and this could be the difference between you just struggling living paycheck to paycheck or living the life of your dreams.

Get started now with fixing your own credit, or hire a professional to do it for you. Whichever you chose, stop delaying and get started today on rebuilding your credit profile and your financial security.

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