For individuals in the same boat as I have been, a lot of advertisements and commercials that promote credit report repair and restoration services can be too good an offer to pass up. These businesses advertise service that include removal of bankruptcies through creating brand new identities that guarantees deletion of all records of bad credit.
The offer is too good for you to pass, but the truth of the matter is a lot of these credit repair companies claim a lot but will not deliver. What they do successfully is cheat their clients and do the disappearing trick with the client's money. My own experience is that the only one I might ever trust to clean my credit up is only me. As for you, you would need the the help of your spouse. To be able to tackle the repair of bad credit, I ended up spending time and effort working on an individual debt repair plan that my family and I would stick with.
If your are still planning to engage some company to clean up credit report, here are some indicators if a credit repair company is following legal norms or not. To begin with, they are not anticipated to charge you as upfront fee prior to providing any service. Red flags like when this company dissuades you to contact the credit bureau immediately or avoids answering any question you might have on your legal rights as the debtor will clue you in on their legitimacy.
There are some disreputable credit repair services that advise you to begin disputing all the credit information that exists in your report- even if these are generally true. There are some who will advice you to try and do something illegal like trying to get a new Employer Identification Number instead of a Social Security Number to make use of the new identity. Mainly because these are illegal and fraudulent activities, you stand a chance to get prosecuted and be in worse situation. It is actually considered to be a federal crime if you submit false information when requesting credit, if you incorrectly represent your Social Security Number or get a new Employer Identification Number from the IRS with false information.
While nobody could delete the proper information contained in your credit report, you can request to get a reassessment. You can also ask a reinvestigation of a credit, which you think is actually inaccurate or never complete in some way. The Fair Credit Reporting Act allows you to discuss any mistake or old items 100% free. All you have to do is to ask the credit reporting agency for a dispute filing form or submit your points for disagreement. Be clear in identifying the item or items that you wish to dispute, give reasons why you wish to claim and request for a reinvestigation. Bear in mind to keep a copy of your factors of dispute on hand. If the investigation discovers an error, you may request that the corrected form be released to all who received your credit report for the past six months. You may also solicit the credit bureau to add your dispute reporting in all their coming reports, if the reinvestigation does not solve your dispute and the situation continues.
Though every state has their laws to regulate the operation of credit repairing companies, you have to be cautious in deciding on whom to trust when you aim to clean up credit score. If at all by chance you have been taken for a ride by any credit repair company with deceitful practices, report the issue immediately to your local consumer affairs office or your attorney general's office.
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