|Forum Home > General Discussion > CREDIT REPAIR -VS- CREDIT RESTORATION|
In this example, we will outline the difference between credit repair and credit restoration. The credit restoration process I use takes full advantage of Section 609 of the Fair Credit Reporting Act (FCRA). We as consumers may dispute information which is misleading, Inaccurate, or Unverifiable. Simply buy generating dispute letters and Laws from the Fair Credit Reporting ACT (FCRA). But I force the first Law into action that is Section 609 of the (FCRA). While using all 13 other Federal and State Statute of Limitation Laws to go alone with the process to completely Restore your credit and build your score up. Credit Restoration is about education on every aspect of your credit, credit score, debt collectors, and anything effecting your credit negatively that shouldn't be.
Typically involves the client writing letter to creditors reporting information and attempting to prove you made or not making late payments. And that the information that is being reported is somehow inaccurate, or misleading. So, you are trying to repair this situation to not have bad remarks on your credit report card. They require the client to provide the information they need to assist in the dispute process, which can be time consuming and a nerve wracking experience for the client. Are the people hired by the client to help improve the reports that are on the client’s credit report? Credit repair is most successful when the information is Unverifiable.
Also, credit repair is a lengthy and expensive process which often fails to deliver what has been promised to the customer. Because credit repair companies must, by law, Charge a start up fee and then charge a monthly fee it is in the credit repair companies best financial interest to draw the process out as long as possible.
Credit Repair is often successful in having some items removed, only to have it re-report in a different reporting cycle. Just as well on another Bureau’s report while not showing on the report is was originally on. Making the process longer because you now have to get it off the bureau it wasn’t on in the first place.
Lastly, credit repair cannot delete (All) types of negative information from a credit report, and therefore, may not have the desire outcome.
Deals directly with the credit bureaus; we do not write letters to creditors or ask that information be changed or modified to improve a credit score. Instead, we assist our clients in disputing the credit bureaus legal right to report our private financia; Information as Inaccurrate, Unverifiable, or Outdated.
We force the credit bureaus to comply with the Federal and State Laws. By making them produce verifiable proof they can legally report your private financial information. This means the credit bureaus MUST have a copy of an original document with your signature on it.
If the credit bureaus do not remove or change an item they are reporting to current paid as agreed once they cannot produce a document with your signature on it, they are in violation of federal law and subject themselves to a $1,000.00 fine for each item they report. It does not matter how accurate the information may be. If the credit bureau cannot provide documentation with your signature on it, they cannot legally report that information.
There are NO negative items which cannot legally be removed from a credit report if the credit bureaus cannot, or will not provide verifiable proof that the item reported is yours.
True Credit Restoration is permanent and the information, once removed from a credit report, cannot be re-reported without penalty for reporting information the credit bureaus KNOWS they do not have the documentation for.
It also provides an educational program to educate clients on how the credit system works and how to maximize your credit scores by adding positive information to their credit profiles.
On the other hand, if once reported into the credit bureaus that they are in violation of the (Federal and State Laws) and they provide proof of your signature there is other step that needs to be taking into consideration in which make the process lengthy but worth it for your financial future. Remember Credit Restoration is a research process and credit repair is trial and error process.
Most people that are doing credit restoration will take the time to evaluate your credit situation before taking any money from you. But, you may be entitling to paying a consultation fee instead based on the experience of the person. Please ask for any contracts from any person claiming to do either job of credit repair or credit restoration. Remember their are 14 Federal Laws whom ever you are choosing should show you all laws. Also, should know your Statute of Limitation Law make them provide that before paying any money.
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