Credit Repair

Tips To Hire The Best Company To Repair Credit History

There are certain laws that regulate the process when it comes to hiring a third party to repair credit history. Therefore, if you are considering hiring a credit repair organization to perform this task on your behalf, you must first be well aware of those laws. Unawareness of these laws is the main reason why many consumers often get trapped into credit fixing scams. Following are some of the basic things about the Credit Repair Organization Act that you must always keep in mind before you sign up with a company.

The Company Must Provide You A Written Statement

When it comes to choosing a company to repair credit history, the first thing that is very important for you to check is whether the company provides a written statement to you. This statement must explain your legal rights regarding credit repair. For example, it must clearly tell you that there is no need to hire a third party agency to perform this task and that the laws have provided you the legal right to file your disputes with the credit bureaus on your own. The statement must also explain the procedure that consumers have to follow in this regard. Besides that, it should also explain to you that there is no legal way to remove accurate negative entries. Even if you hire a third party agency, you can only hire them to remove the errors from your report, not to remove the accurate negative entries. If a company is making such claims, they are doing this illegally, and so, you must stay away from them. Last, but the least, this written statement must also inform you that you have the right to due the agency in case you find that they are violating the Credit Repair Organization Act.

Things That Are Legally Prohibited For The Credit Repair Companies

Before you hire a company to repair credit history, you must also be very well aware of the fact that the laws also prohibit these companies from getting involved in unfair activities that include telling a lie about your credit report, creating a new credit file for you, and making promises to remove all negative credit listings. The most important thing to note here is that these companies are also prohibited from charging their service fee upfront. It means they cannot ask you to make the fee payment in advance. As per the laws, they must first perform the task they have promised and then charge their fee. Besides that, the provision regarding the fee must also be clearly explained in the contract that you sign with them. You are strongly recommended to review the terms and conditions of the contract thoroughly. Make sure that you understand the provisions regarding the fee and that the fee is a reasonable one, which you can easily afford.

Overall, if you are aware of the laws, you can easily choose the best company to repair credit history. Credit repair companies are not illegal organizations, but they must abide by the laws as explained under the Credit Repair Organization Act.


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Posted in Credit Repair, Credit Repair Services | 1 Comment »

One Response to “Tips To Hire The Best Company To Repair Credit History”

  1. Ritchie says:

    Credit Repair Companies can be found every where if you speak on Goggle. These companies will do a bombardment upon you. All these companies are not genuine so it is very important to search for a reputable and genuine company which can do the much needed repair to your credit. Without charging a hefty amount from you as the fee, some company professional will tell you that they will delete all the negative entries from your credit report which is impossible legally. It may happen that they try to do it by some unfair means which is an illegal process and you should not become a part of such an illegal activity. The Credit Repair Company can not demand their fee in advance, first they have to perform their services only then they can take each and every thing in writing from them, it will be good to sign a contract or agreement in writing. If you get a written statement from the company, you will come to know that there is no shortcut to just get the credit repair accurate without any errors. One more thing is that any company can only remove the errors; they can not remove any accurate entry from your credit report. Your awareness regarding the rules will play an important role to get your credit report repaired.

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