Should I Hire a Credit Restoration Company Like Go Clean Credit Report?

Posted by Tony Stark on February 22nd, 2021

Simply put, credit restoration, also known as credit dispute, is the procedure of challenging the accuracy or validity of account information contained in your credit report. Disputing information on your credit report with the three major credit bureaus (Equifax, Experian and TransUnion) is a legal requirement provided to consumers by the Fair Credit Reporting Act (FCRA) and many other federal laws and regulations. Credit Restoration Lexington KY are available to help you dispute information that may be erroneous. However, there is a lot of conflicting information on the topic of credit repair.

For starters, credit restoration is only one part of the total solution for improving your credit report. If you are serious about restoring your scores and getting approved for home, auto and other loans, for instance, you will also need to focus on establishing new spending habits, controlling your debt and financial irresponsibility and developing and maintaining healthy financial relationships. To accomplish this, you'll have to educate yourself on the entire process and decide which approach to take.

In terms of education, credit restoration is best achieved through educating yourself on the laws, regulations, methods and options regarding how to dispute information on your credit reports. The first step in this process is to become familiar with the Fair Credit Reporting Act and what it can do for you. The second step is to determine what type of disputes are appropriate for your situation. There are basically two types of disputes that you can pursue: disputing items on your credit report that are incorrect or unverifiable, and requesting that certain debts are removed from your reports because they are older, or due to your death, divorce or other circumstances. Credit repair companies are often helpful in the initial phase of this process, especially if you feel like you aren't getting the results you want. But be sure to contact a credit restoration company before attempting any credit repair on your own.

The third step is to write to the credit bureau with the dispute in question, requesting that the items be removed. Depending on the type of dispute, this could mean sending a letter to the individual credit account agency, or making a phone call to them. This next step, in terms of credit restoration, involves waiting 30 days in order to make sure the agency has time enough to respond to your complaint and then following up a second time to follow up with a follow-up letter. If the creditor still refuses to remove the disputed item, you will need to follow up a fourth time with a request for a hearing.

Depending on the nature of your financial situation, you may be able to pursue debt settlement on your own, without the help of a credit restoration company. If you are able to do this, there are many positive benefits to using this option. First, you won't have to wait for the official determination of your credit report, which can take several months. Second, you will not need to pay for the services of a credit restoration company, and third, you will be able to obtain your credit report and score through a more affordable method, without paying a deductible for the service. Debt settlement can also save you a great deal of money.

But should you decide to use a credit restoration company? There are some strong arguments in favor of using one. While it's true that the three federal laws make it harder for collection agencies to harass you, it is still fairly easy to be targeted by a collector. In addition, the Fair Credit Reporting Act makes it harder for collection agencies to use abusive, harassing, or intimidating tactics, so it's important that you watch out for these problems.

The alternative is a good credit score and report. Now, if you are asking the question "Should I hire a credit restoration firm to fix my bad credit score and errors or fix my own credit mistakes and make a fresh start, the answer is no." If you are really serious about fixing your finances and getting on top financially and rebuilding your credit reputation, then a credit counseling program is probably the best option. These services offer a wide range of financial solutions to help you get back on track and rebuild your credit reputation. They work with creditors to reduce interest rates, eliminate late fees, and clear up errors on your credit report.

In my opinion, the most important thing when considering a credit restoration company like go clean credit report is whether or not you're going to get a full assessment of your financial situation before deciding on a course of action. Even with reputable companies, it is often possible that they won't be able to do everything you need to successfully repair your credit. So, you want to make sure that they understand what is going on with your credit and that they will be able to set up a plan to make it right. Also, make sure that they have the proper training and credentials to be able to handle all of the tasks that need to be done.