Establish Good Credit and Fix Bad Credit
Odds are there are negative items listed on your credit reports that do not belong there. By law, you have the right to dispute these negative items. Any negative listing you feel may be inaccurate, untimely, misleading, incomplete, ambiguous, unverifiable, biased or unclear ("questionable") can be disputed with the credit bureaus.
If the item cannot be verified, then it must be removed from your credit report.
By taking a two pronged approach to improving your credit through ongoing management of your credit and through fixing the errors in your credit reports, many people have seen dramatic results in a relatively short period of time. If you simply sit back and wait for your credit score to improve, it may be a number of years before you see a significant shift, but by proactively working to fix your credit, you may see noticeable improvement in your credit score in only a matter of months.
When your credit is broken to begin with because of an imperfect credit system, you shouldn't have to wait for years for the problem to fix itself. Take advantage of your right to a fair and accurate credit score by working to fix your credit reports.
Call now for a free credit consultation and learn how we can help you on your path to better credit. 1-888-596-4997
What does it mean to fix bad credit?
Only a portion of the people looking for information about how to fix their credit realize how close to the truth they really are. Even though they may only be looking for a way to raise their credit scores, the fact of the matter is that in many cases, they are actually in need of fixing something that is broken. The credit system in this country is far from perfect and because of it, millions of Americans have credit scores that are not accurate assessments of their credit risk. In a word, their credit score is broken. Fixing their credit is exactly what they need to do.
Studies show that the majority of credit reports contain errors. Whether through clerical errors, mistaken identities, improper accounting, or simple misunderstandings, there are an estimated 200+ million Americans with errors on their credit reports. And in many cases, these errors are significant. As many as 25% of all credit reports contain errors serious enough to cause someone to be denied on a credit application.
So when talking about fixing bad credit, there is more to it than just trying to increase a credit score. It is about repairing the errors and omissions in your credit reports. Responsibly managing your credit will help you start working towards a better credit score, but truly fixing bad credit requires that you also focus on the source of the problem.
Getting straight information about how to fix my credit
Getting accurate information about credit repair can be both confusing and frustrating. There are two drastically opposed positions on credit repair, and research on the subject can leave you feeling like you know less than when you started. It's important to know that neither view is completely accurate. They both neglect the full story and miss the middle ground entirely -- which is legal credit repair. For people wondering "how to fix my credit?" it's important to understand why there's so much conflicting information about credit repair.
Credit repair scams: "We can fix any bad credit"
Fly-by-night credit repair clinics offering quick fixes to credit problems have tarnished the reputation of legitimate credit repair companies. At best, they promise results they can't live up to, and at worst, they employ illegal methods. In short, these businesses scammed millions of dollars from consumers who wanted to improve their credit scores before the government took steps to shut them down. It is these credit repair scams that are in large part responsible for the negative association many people have with the term "credit repair." Not every undesirable item can be removed from a credit report, and you should stay away from any business making this claim.
The FTC and credit bureaus: "Fixing bad credit isn't possible"
The unethical and sometimes illegal behavior of some companies has given credit repair a bad name, not only with consumers but also with the Federal Trade Commission, creditors and credit bureaus. The federal government has gone to great lengths to stop these illegal practices, but in the process has put legitimate credit repair companies in the same category as the bad ones. Government agencies and credit bureaus alike toe the line implying that consumers shouldn't try to fix bad credit, because it simply can't be done. This leaves consumers with one option: sit back, wait, and wait some more until the negative listings reach the maximum time they can be on a credit report, eventually falling off on their own.
The middle ground: "There are legal ways to fix your credit."
Run the risk of being scammed or wait years for your credit to fix itself. Neither sounds like a good option. Luckily, if you need to fix your credit there's a third route: legal credit repair. Your right to fix your credit is legally protected under the Fair Credit Reporting Act (FCRA) and other federal legislation. Among other things, these laws entitle you to free or reasonably priced copies of your credit report; they set a maximum time that negative items can remain in your files; and probably most importantly, set strict guidelines for credit bureaus when it comes to handling disputes.
Credit bureaus are legally obligated to verify disputed items, and if you feel that a negative item on your credit report is inaccurate and shouldn't be there, you have the right to request verification. If the item cannot be verified with the creditor who placed it there, it has to be removed. This is one of the most powerful tools in legal credit repair, and an option that may be available to you.
When you need to fix your credit, it's important to remember two things: 1) Disreputable companies promising quick fixes still abound, so be on the alert for scams. 2) The statement that it's impossible to repair your credit is FALSE. With this in mind, remember that there are other options to simply waiting for your credit to fix itself. The law protects your right as a consumer to dispute negative items on your credit report, and if they are inaccurate or unverifiable, have them corrected or removed.
Credit Repair is challenging, so if you're not sure where to start, Lexington Law may be able to help. Lexington Law's credit repair services have assisted clients with the removal of millions of questionable negative items from their credit reports. To learn more about credit repair and whether or not it may be right for you, Lexington Law offers a free credit consultation.