How Credit Repair Services Work

If you have ever experienced errors in your credit report, you should know about credit repair services. These are services that exist specifically in the event that a consumer notices discrepancies on one of their credit reports. These services can be done by a professional credit repair company.

To begin credit repair services, a reputable company will check your credit reports from all three major credit reporting agencies — Equifax, Experian and TransUnion. This is because it is the best way to find the source of any issues because each of the agencies use their own data furnishers, including lenders, debt collectors, credit card agencies and more, to report your credit information to them. In other words, there may be an error or multiple errors on one credit report, but not on the others.

When any errors have been found, you are required to provide the credit repair company all of your documents related to your credit history. This allows the professional helping you to determine the specific discrepancy and report the error or errors and your documentation is proof that an error was made.

The credit repair company will work with the company from which the error was reported or made to determine whether the item should be removed from your credit report. It is important to note that you have rights regarding your credit report, as per the Fair Credit Reporting Act, Fair Credit Billing Act and Fair Debt Collection Practices Act. These laws can ensure that you are treated fairly when you are in a situation where you require credit repair services.

Image: / MilanMarkovic