Numerous credit repair companies promise to clean up consumers’ reports by disputing any inaccurate items with credit bureaus and opening new accounts with positive information on them, but this strategy could actually backfire and may even be illegal in many cases.
If you’re considering hiring a credit repair company, be careful in your selection process and thoroughly vet each company. Consumer review websites, reputation checks and educational resources provided are great places to begin your research; if a provider refuses to answer questions regarding fees, pricing or services it might be wiser to look elsewhere.
At the forefront of credit repair is accessing your reports. Each credit bureau provides one free report each year; during COVID-19 pandemic they began offering weekly reports until December 2023! Alternatively, credit-monitoring services like Experian, Credit Karma and Credit Sesame offer free access.
Your credit report contains valuable information, such as payment history, current balances and how much debt is owed. Therefore it’s essential to monitor it regularly so as to quickly detect any discrepancies that might appear on it.
Errors on your credit report can be devastatingly detrimental to both your score and peace of mind. Common mistakes include accounts that don’t belong to you, inaccurate addresses/phone numbers and outdated information.
Credit repair agencies can be invaluable tools in fighting back against errors reported to credit bureaus and creditors on your behalf, but cannot legally remove negative information such as unpaid medical bills or delinquent student loans from your report.
No credit repair company should promise an instantaneous increase in your score; any that do so are likely attempting to defraud their clients and break the law by charging upfront fees before their services have been performed.
If you have fallen victim to credit fraud or identity theft, Lexington Law’s team of attorneys can assist in recovering from it. Their experts can conduct an in-depth review of your credit report to identify any inaccurate negative items and provide advice and assistance that maximizes lender accommodations.
Lexington Law provides customized service with an unconditional money-back guarantee; if significant changes don’t appear to your report within 30 days, they’ll refund your money. Furthermore, their focus tracks cover various topics to provide more tailored assistance from their team, such as mortgages, auto loans and personal finance. For more information on Lexington Law services visit their website; for general knowledge about credit repair, negative items and the credit reporting process visit their blog.
