How To Repair Your Credit-Intro

 Your success in repairing your credit depends on your persistency in challenging accounts you feel are inaccurate, according to the credit repair industry. You also have the Federal Government on your side protecting you against credit bureau abuse and unfair descriptions of your credit rating.

The Federal Law, “The Fair Credit Reporting Act, (FCRA)” gives very specific procedures by which you can dispute any information in your credit report. Credit bureaus must follow the law or risk criminal prosecution for willfully ignoring your rights.

In the Section 611 of the Fair Credit Reporting Act says: If you question the accuracy of any item in your credit profile, the credit bureau is required to “re-investigate” (check out) the information and within a reasonable period of time send you the results of their investigation.

The law is not specific in defining “a reasonable period of time” but to protect you, the law states, the credit bureau must re-investigate the information immediately unless there is some good reason for the delay; such as, a breakdown of their computer system or some other disaster that may directly affect their normal operations.

 The credit bureau has the right not to check out your dispute – if they have reason to believe that your dispute is “frivolous or irrelevant.” The FCRA has advised credit bureaus not to use this clause as an excuse unless they are prepared to defend themselves in court. We will discuss how to avoid this problem later.

If the information checks out to be in error or can no longer be verified, the credit bureau by law, must promptly delete the information from its files.

Tip: Expect and demand to receive a prompt response from the Credit Bureaus. Allow about 15 to 35 days (depending on whether it is a local or out-of–town company), for them to get back with you with the results of their investigation.