Repairing your credit – Frequently Asked Questions
1) How long will it take to repair my credit?
That time frame depends on how “broken” it is. It could take as short as a couple of months to as long as 12 months, again keep in mind that it is determined by how severe the errors are. Also if you don’t follow up then that will delay the time frame as well.
2) Don’t I need to hire a professional service to do this?
That’s entirely up to you, you can accomplish this if you follow our program and are willing to spend some time on it. If you are a person that likes to see things get done in your own time frame, want to save money and not want to allow other people access to some of the personal information that will be needed to repair your credit. Then you should repair it yourself. However, if you don’t want go through the steps, there are firms that will handle the process for you for a setup fee and a monthly service.
3) What about credit counseling, doesn’t that help me in the same way?
Counseling services are the surest way to create more credit problems. All that most counselors do is contact your current creditors and work out a smaller payment arrangement and you pay a monthly fee to the counselor for those phone calls. Almost every time that happens, the creditors accept the payments but still report negatively, i.e. past due. You might as well call the creditors yourself and work out the same arrangement and send the money that you would have paid the counselor to one of your creditors.
4) If I send to the credit agencies a written comment to be placed on my credit report, won’t that repair my credit?
Presently, applying for credit and the approval process is computer automated. The comments can’t be read by a computer and taken in to consideration in the approval of your credit request. Therefore, errors and credit mistakes need to be disputed and removed.
5) There are so many places that report credit why is that?
There are many services that you can order your credit report from. Don’t get the services confused with the agencies. The primary credit agencies are Transunion, Equifax, and Experian . Credit services only report your information, they can‘t correct errors, only agencies have the authority to correct credit errors. Most services can merge this information from all 3 agencies and filter it in an easy format for the creditors to utilize. This report is called a tri-merged credit report.