What is Credit Repair?
As a continuing installation to our blog here at CreditForums.org, we’d like to touch on credit repair just a bit. This is a hot topic among consumers, especially those with imperfect credit histories.
So without further ado, let’s talk definitions. Credit repair is usually considered the act of sending dispute letters to the three major credit bureaus for accounts with negative history. Law requires that the credit bureaus supply proof that their records are correct, otherwise they must remove the information from the information. Therefore, if a bureau cannot prove that “x” account is past due, it may no longer be marked as late on your credit report and your credit scores may improve as a result.
That, in a nutshell, is what is typically thought of as credit repair. There are companies out there who specialize in this service and there are also ways to go about disputing your credit report on your own. Stay tuned for more information on both.