It seems every medium now-a-days, Internet, Television, Radio, Billboards, has an advertisement regarding credit repair and free credit reporting. The real truth of the matter is Credit Repair can be done and should be done by you.
The Federal Trade Commission (FTC) encourages you to do so. In the Fair Credit Reporting Act (FCRA) passed by congress spells out very clearly the exact process for the reporting entities, merchants, banks, lenders as well as the consumers, borrowers.
However, like just about everything the government gets its hands on, the written language is similar to what I call "Legal Vernacular." It becomes overwhelming very quickly, but it is still discernible if you apply yourself to its study.
This is where the Credit Repair companies come in. They act as intermediaries and help you apply what is rightfully yours to do yourself. And that is OK as long as the process is not abused. The abuse of their tactics is the problem.
No entity or person can guaranty you the removal of derogatory items on your credit report.
No entity or person can erase your bad credit history.
They make false claims in regards to be able to remove tax liens, judgments, and bad loans from your credit file.
Truth is this. Only legitimate items reported in error are typically removed and only time and a good history of timeliness in payments can produce good results in improving your credit scores.
But knowledge is power. By understanding exactly how the FCRA truly governs itself and the Credit Reporting industry, you can definitely benefit yourself by applying all the rules they allow and seeing a significantly better Credit Score in a matter of months.
No magic elixirs. No Smoke and Mirrors.
For further in depth knowledge into this subject please visit us at http://www.hoffmanngrp.net
Daivd Hoffmann Please visit us at http://www.hoffmanngrp.net
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