What is a credit repair agency?

 



A credit repair organisation is an organisation that assists consumers in dealing with and improving their bad Credit Score Solutions. Consumers may lack the necessary knowledge and/or time to file their disagreements for a credit rating correction. Credit Repair Agencies can assist such consumers in filing their disputes. It is recommended that you check the legitimacy of a credit repair agency before entrusting them with your private details. According to the Federal Trade Commission, there seem to be a number of unlicensed agencies that intend to defraud customers.





What issues can occur with a credit information report?

There are two types of problems that can cause errors in your credit report:

a. incorrect information stored in your credit history and credit report

b. Missing a payment can have a negative impact on your credit report for the following reasons:

  • financial difficulty.
  • missed credit card payments as a result of domestic or international relocation.
  • Charges or annual fees are disputed with the lender.
  • Failure to receive a card statement, resulting in missed payments.
  • Disagreements with the lender due to fra


Things to remember

  • On the internet sites of credit rating agencies, the dispute is free of charge.
  • Any changes to your credit history must be approved by your bank or financial institution.
  • Even if you apply for credit counselling through a credit counselling agency, the final credit report is sent only to the consumer's email or postal address. The information is private and will not be shared with anyone else.

 


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