Credit Repair
Credit Repair consists of two phases:
1. Removing the negative listings from your credit report and
2. Adding new, positive listings.
Since most creditors will reject you if you have even one or two negative listings, your first priority should be to repair any negative listings.
For instance, after bankruptcy your credit report will show many negative listings including the bankruptcy filing, bankruptcy discharge and numerous "included in bankruptcy" listings. (such as any credit cards included in the bankruptcy)
While removing a bankruptcy from your credit report is no easy proposition, it is possible and surely worth the effort.
Top 5 Most Damaging Negative Credit Items
- Charge Offs - a charge off often results in two negative listings - one from the original creditor and any successive collection agency
- Judgment/Public Record - a judgment can often attach to your home or personal assets
- Collection - even a single default can lead to a string of collections on your credit history
- Bankruptcy - a bankruptcy remains on your credit for up to 10 years (this is 3 additional years as compared to other types of delinquency)
- Repossession - repossessions are a major headache when applying for a mortgage or car loan
Can I Really Repair my Credit Reports?
Proven results certainly speak volumes. Although credit repair is not as quick or easy as changing the oil in your car, it can be done.
"HOW I DELETED CHARGE OFFS, COLLECTIONS, AND LATE PAYMENTS & RAISED MY CREDIT SCORE 177 POINTS!"
Learn How I Improved my credit score from 530 to 707 by deleting stubborn charge offs, collection agencies, and late payments from my credit reports -
"I went through some hard financial times a little while back. I lost my job and as a result I struggled to pay my car payment and credit card bills.
I was devastated.
I tried working with my creditors, but they made it almost impossible. Many of the credit card accounts were reported as "charge offs" to the credit bureaus without my knowledge.
To make matters, worse collection agencies got involved. They began checking my credit without my consent, which I was told hurt my credit score. There were also duplicate entries for the same accounts.
I wanted to start over, clear up the bad credit, and raise my credit score. I decided to hire professional credit repair attorneys. After reviewing many options, I chose the Lexington Law Firm.
They started the credit repair process almost immediately and cleared up four negative credit items after only 30 days!
They even deleted things that I had totally given up on. I monitored my score each month and saw that my score was steadily improving.
Below is a chart demonstrating the progress I made:
I enjoyed receiving Deletion Letters in the mail each time they removed an item.
Here are some of the Deletion Letters:
Lexington Law's Credit Attorneys cleared up other negative items including a medical collection item, charge offs, and a judgment.
My Credit Score is now 707 (which is above the national average). It continues to improve every month. I actually look forward to checking my credit score.
Here is a copy of my Credit Score:
My Current Credit Score - 707!  |
I recommend the Lexington Law Firm to anyone who is shouldering the stress and frustration of bad credit. Lexington Law has experiencing deleting all types of negative credit items including judgments, foreclosure, and more.
The results really do speak for themselves. Lexington Law has helped many people repair their credit reports. In fact, according to the Lexington Law Website, they deleted more than 600,000 negative credit items including collections, foreclosure, late payments, charge offs, repossession, and bankruptcy!
Click Here to Get Started on Your Credit Reports!
Or...
Click Here for a Free Consultation
Credit Repair Myth-Busters
Myth #1 -Credit bureaus are official
Nothing is further from the truth. There's so much wrong with practically every word of this fantasy. To be sure, there isn't anything much official about the credit bureaus at all. Rather, the major consumer reporting agencies (Equifax, Experian, and TransUnion) are simply three large for-profit companies.
In fact, you could own a piece of Equifax and Experian yourself just by telephoning your stockbroker, or logging into your e-trade account.
Sadly, the credit bureaus and creditors want you to believe that credit bureaus enjoy an official, quasi-governmental status. By perpetuating this myth, it is likely you will believe you be punished if you fight against sloppy reporting, usurious APRs, exploitative late fees, inexplicable surcharges, unethical debt collection practices, and worse.
Fortunately, that's just not so.
So contrary to the general attitude, there are no official bureaus. And while most Americans perceive their credit reports to have the same legal status as their driving records, the truth is that the government has no role in creating or maintaining your credit reports. In other words,
"No law mandates a credit report's existence, and such documents may be considered to be no more than a list of allegations remaining to be proven."
-Consumer Advocate Attorney - The Lexington Law Firm
Myth #2 -Paying Down a Charge-Off or Collection Will Repair my Credit
The act of paying off a debt will not improve your credit rating much, if at all. Negative credit is allowed to stay on the credit report for a maximum of seven and one half years, except for bankruptcy which may remain on the credit report for ten years.
By paying an outstanding, delinquent debt you will change the account status to "paid collection," "paid was late," or "paid was charged off" - which will still stand out as a very negative listing.
When you have outstanding debt, it is almost always prudent to seek professional help so that you may settle your debts without further damaging your credit.
The best way to eliminate a charge-off or collection is to negotiate for a "pay-for-deletion."
A pay-for-deletion is when you agree to settle the debt in exchange for the creditor removing the negative information from your credit report.
Myth #3 - Hiring a Credit Repair Company is Illegal
Some companies suggest that using a credit repair company is illegal. Sometimes, they'll send a letter to consumers that basically accuses them of having sought outside assistance with the problem. Note that they never actually come out and say plainly, "Using outside counsel is against the law," because it isn't.
Their goal is to intimidate you into backing down and accepting bad credit for the next seven years of your life. Credit bureaus would prefer that you do credit repair yourself since it is easier for them to ignore disputes and force you to give up on repairing your credit.
Hiring a credit repair attorney to represent you is no different than hiring a lawyer to represent you in a house closing, a business dispute, or for a traffic infraction. In sum, hiring a credit repair company is 100% legal.
