Credit repair refers to the process of disputing mistakes and errors that can appear in your credit report. If you think an item that appears on your report is inaccurate, you can ask the credit bureau to verify the information. The credit bureau usually has 30 days after receiving your dispute to investigate and verify information. Typically, the credit bureau will reach out to the company that provided the information and ask it to investigate. The credit bureau is required to send you the results of the investigation within five business days of the completion of the investigation.
But if the credit bureau determines the dispute is “frivolous” it can choose not to investigate as long as it communicates that to you within five days. This process is protected under the Fair Credit Reporting Act and it’s often necessary to ensure you have the best credit possible. Many mistakes, such as late payments, can negatively impact your credit score. This makes it harder to get loan and credit approvals at good interest rates. If you have poor credit, you may be struggling to qualify for a credit card, rent an apartment or even get a personal loan.
To help make you a better applicant, The Fico Expert will handle all the heavy lifting of working with the credit reporting agencies to improve your score. it can help to have a well-trained credit professional work through the process with you and that’s why we offer our premier services to you for an affordable rate.