What You Need To Know During The Credit Repair Process
Quick question: When you are battling a poor credit score, who or what is the most important ally to have by your side? If you are thinking credit repair, you are close – but not close enough. If you are thinking additional credit, then you are certainly way off the mark.
The answer is credit education.
To put it another way, your most important ally is the knowledge you possess about your financial report and the credit repair process in general. We understand that conducting financial research is not the most exciting thing to read. In this case, however, it definitely can save your credit score and your finances from sinking further.
We have mentioned this before, and we will say it again: credit repair begins with you. You hold the key to your financial recovery.
Why Credit Education is Important
Imagine you have approached a credit repair agency to improve your FICO score. The agency sweet-talks you into believing that they can guarantee an improvement on your score and even asks you to pay a fee upfront. The next thing you know, your score has not changed and the money you paid has amounted to nothing. Worse still, the credit repair agency does not answer your calls or reply to your emails.
This is why staying informed about credit repair laws and consumer protection is very important. With the proper credit education, you would have known that the only way of improving your score is by removing unverified, erroneous items. Additionally, you would have known that credit repair agencies need to be paid only if they are successful in removing the errors from your report.
Two Things You Need To Know
Think of this a dummy’s guide to credit repair. We have summarized the entire process in two brief segments. There are many other factors and aspects, but these two are the most critical things to know when you choose to improve your FICO score:
This is always the first step in any repair process. When an agency decides to pick up your case, the first thing they do is comb through your report. Any unverified claims are identified and marked for dispute.
The erroneous claims are brought to the attention of the respective lender. The appropriate laws are applied to remove these items from your credit report. The new report is then communicated to the credit bureaus.
Credit education is vast and changing. It’s necessary to stay up-to-date on the latest information regarding credit in general, the credit bureaus, and laws that affect your credit.
Looking for more information about how to handle your credit? Do you need to start the credit repair process? At Action Credit Repair, our experts will provide a personalized credit consultation, an audit of your credit history, and offer solutions to all of your credit obstacles. Contact us today to speak with an experienced professional: Call 518-945-2299 or email [email protected].