Credit repair software helps consumers to improve their Credit report and correct erroneous information on their credit report. Many times a person’s credit report contains inaccurate or false information. The Fair Credit Reporting Act gives consumers the right to dispute inaccurate information and ask for corrections. This allows the consumer to get a better understanding of his or her credit score and to make adjustments accordingly. However, many people don’t know how to use this law to improve their credit scores.
Using the Fair Credit Reporting Act to improve your scores is easy. You must first know how the entire system works. Each month, the credit bureaus release their credit report. They do this after receiving all of your application for loans, credit cards, auto insurance and so on. When the credit agencies get your application they check to see if you made all the required payments. If these payments are missing they place a notation on your credit reports saying that you need to make the payment or that you have bad credit.
Those who are part of a lawsuit don’t have access to this free information. So how can these people find out if they have any errors on their credit reports? This is where the credit repair look at this site companies come into play. These companies will search through all of the data bases to find out if there are any mistakes.
Many times the credit repair services charge a reasonable fee for this service. For example, you only pay a few dollars a month for the initial three years. Then you pay an annual fee for the services. The yearly fee can be as much as thirty dollars per year. Then you will get a free copy of your credit report at the end of each year.
If you find a mistake in your credit report you can dispute it with the credit reporting agency. This process could take a few weeks and in many cases up to one month. This is the reason why those who find negative items on their report, do not want to wait to contact the company.
When you hire a company to help you with your dispute remember that they will check your credit reports first. After they find the error they have to inform the bureaus. In most cases the bureaus are then able to correct the problem. Many times they will give you 60 days to provide them with proof that you are not making these errors.