According to the Federal Fair Credit Reporting Act (FCRA), credit bureaus must investigate and verify, upon request, the completeness and accuracy of information on your credit reports. The FCRA provides consumers the legal right to dispute inaccurate, incorrect, or misleading information on their credit reports.
Credit bureaus are given 30-45 days to investigate a credit dispute. If the bureaus determine they’ve been reporting inaccurate information, or if they are unable to verify the item, they either correct or remove the item in dispute. The bureaus then supply the consumer (you) with updated account information, usually in the form of new credit reports.
There are companies that will help you navigate the laws in order to increase your credit score. Credit repair companies will complete the necessary paper work to report information that is inaccurate with the goal of having it removed. Removing negative information can increase your credit score significantly.
There are a few services online that you can use to repair your credit. Below we have listed a few of them.
Ovation offers a personalized and proven credit repair program that will get you results. You can sign up online which only take a few minutes. Ovation can help remove or improve questionable items on credit reports which includes late payments, collections, charge offs, bankruptcies, inquiries, judgments, liens, repossessions, foreclosures, identity theft, fraud, and incorrect personal information.
Lexington Law is a law firm that has been around for 17 years that specializes in credit repair. They has served thousands of clients since 1991. Lexington Law works closely with credit bureaus and creditors to help clients clean up their credit. The process is simple; you give Lexington Law all the information they need, you then sit back and relax and they will go to work for you.
Veracity helps consumers decipher credit reports and choose which information should be disputed. Veracity’s specialists have analyzed thousands of reports, and they can quickly help you identify areas of potential concern. Whether you’re dealing with duplicate information, paid accounts that still show as unpaid or a collection account that keeps “resetting” the date of last activity. Correcting such problems can increase your credit score dramatically.