Credit Repair

To live the American dream requires a level of financial freedom. To many Americans, this dream has not materialized due to outweighing circumstances that have affected their credit status.

So, what does your credit score really mean? Having a strong credit score allows individuals to obtain financing for items such as your home, automobile, or simply better interest rates on your credit cards. Majority of creditors utilize your credit score as a sole determining factor for risk. The better your score, the lower the risk. This allows you to be able to qualify for financing at a lower rate.

Established in 1970, the Federal Trade Commission enacted the The Fair Credit Reporting Act (FCRA) to promote fairness, impartiality, accuracy and the privacy of individual information reported to credit bureaus by creditors and others.

This act allows a consumer to investigate and challenge the accuracy, validity, and completeness of the information on his or her credit report.

In the event that a discovery is made regarding inaccurate information placed on an individual’s credit report, the bureaus are mandated by law to conduct their own investigation within a “reasonable period of time” (30 days), to determine a outcome of the derogatory item in dispute.

After an investigation has been conducted by the credit bureau, and the disputed item has been deemed valid as an incorrect reporting or “is found to be inaccurate or can no longer be verified, the credit bureau shall be required to delete such information.”

Visit Credit Counselors company list look-up government website.