A good credit standing proves to be beneficial in various ways. With good credit, you will most likely be eligible for a loan to finance big purchases such as a property or a vehicle. However, there are instances wherein there may be inaccuracies with your credit report, leading to bad credit. This is where credit repair companies come in handy. However, the question remains as to whether they can indeed help you fix your credit.
Well, the answer is yes!
A credit repair company will be able to help you fix your credit, for as long as the items in your credit report qualify for dispute.
One of the items that can qualify for a dispute is erroneous ones that cover basic errors such as spelling mistakes or even misreported amounts. When you explore online sources, you are most likely to find an independent guide to credit repair services which you can refer to in case you need to identify the types of errors in your credit report. While you may overlook certain items such as a misplaced decimal point, a credit repair company will ensure that all these little details are meticulously checked and verified.
Another item that can qualify for dispute is an outdated item which is generally easy to fix. Most of these are negative items that can already be removed after a certain period. For instance, hard credit inquiries last for only a couple of years but delinquent payments need to be on your credit report for up to seven years. As soon as these items hit their maximum age, then they should be automatically removed from your credit report. Otherwise, you can file a dispute to have these items removed.
Fraudulent items also qualify for a dispute. This can happen in case you become a victim of identity theft, with fraudulent accounts ending up in your credit report. While these accounts may seem legitimate initially, further investigation can reveal their exact origin. Apart from these items though, make sure that you also report any cases of identity theft for proper handling by the authorities.
Finally, unsubstantiated items can also qualify as items for a dispute in your credit report. These are quite challenging to handle on your own because these items involve the accounts in your report that cannot be corroborated by the proper information providers. In this case, you need to get in touch with each of them but if they are unable to show that the debt or derogatory mark indeed belongs to you, then these items will be removed by the credit bureau accordingly.
Indeed, a credit repair company will be able to help you fix your credit on the condition that the items in your credit report qualify for a dispute. This means that if you have erroneous, outdated, fraudulent, or unsubstantiated items in your credit report, a credit repair company will be able to offer their assistance. Just keep in mind to only engage with reputable companies who will look out for your best interest.