It is quite possible to repair credit yourself through identifying discrepancies on your credit reports and filing disputes on your own. Whatever credit repair agencies can do can be done by an individual. The process is not easy though, because one needs to learn all the strategies and the laws governing credit repair. You may not achieve much success doing the work yourself, and it will take you longer to rebuild your credit. Hiring a credit repair company to fix your credit will increase the chances of success. Professional credit repair companies in Houston will go an extra mile to ensure that your credit report is fixed.
How it works
The best company Houston TX has experts who will review your reports to point out any errors and mistakes including expired negative items, credit history errors and duplicate accounts. The process takes a few days before it is completed.
Once they identify any errors on the reports, they will collect all documentation to back up their dispute and sent to the three credit reporting bureaus. They will work with the bureaus to determine what should and should be removed from the report.
Professional credit repair companies will review all the three reports to ensure they all contain the same information.
Are credit repair companies reliable?
Legitimate credit repair companies in Houston employ the services of licensed attorneys who understand all the nuances of the law and the trade. They have lots of experience and can negotiate with lenders on your behalf. The attorneys also apply federal consumer protection law provisions that help to boost your credit history.
Credit repair companies will work with you to:
- Understand and evaluate your credit reports
- Comprehend the way credit scores are determined
- Identify all the strategies needed to improve your credit standing
How to tell if a credit repair firm is legitimate and not a scam
To ensure you are not dealing with a scam, here are some pointers:
- A legitimate company offering credit repair services Houston will not ask to be paid upfront before commencing work.
- They will not prevent you from contacting the credit reporting bureaus directly.
- They will not make you dispute any accurate information in your credit report.
- They won’t ask you to provide any false information when applying for a loan or credit.
- A legitimate company will not forget to explain your legal rights when explaining their services.
If the company tells you to do these things, know that it’s a scam that needs to be reported to the Federal Trade Commission or the State Attorney General.
How to verify the legitimacy of credit repair companies
There are many ways of vetting credit repair companies in Houston including:
- Reading reviews of the company from the Better Business Bureau website.
- Searching the complaint database of the Consumer Financial Protection Bureau.
- Also, avoid companies that promise to improve your credit, create a new credit for you legally and more.
A credit counselor from Credit Counseling can help you understand your credit reports and how to improve your financial standing for the long term.
How long should credit repair take?
This is a process that involves different entities that contribute to the overall outcome. Credit bureaus take 30 days to investigate, verify the information and respond to your dispute. They will contact the company that provided the information and ask them to conduct an investigation. Once they get the results, they will send them within five days after completing the investigation.
If the dispute is frivolous, the credit bureau may decide not to investigate but will ensure they communicate to you within the five days.
How cautious should one be with credit repair companies?
When working with a credit firm, you should be cautious of scams. Sometimes the company hired may not work for your situation. In case you have issues, you are free to make a complaint to the Consumer Financial Protection Bureau.