FAQs On credit Part 2
There are three common ways to
repair your credit report:
1) hire a lawyer,
2) hire a credit counseling company,
3) do-it-yourself. Hiring a lawyer can be extraordinarily expensive at rates of over $300 per hour of work. Hiring a credit counseling company typically costs upwards of $1,500, and can be risky as there are many credit counseling companies with shaky reputation which make big promises, but in reality just take advantage of customers without any real results. That is why the Federal Trade Commission has issued a consumer warning on this topic and has strongly suggested to consumers
to adopt a do-it-yourself approach. The issue until now has been that there were no comprehensive resources as to what exactly you need to do as a consumer to correct your credit report. With the Hi Score Program being released to the market, the guesswork is over, and everyone has affordable and easily understandable and practical tools to
repair credit.
Is credit repair legal?
Repairing incorrect items on your credit report is perfectly legal. In fact, the credit reporting bureaus encourage it because it usually helps them detect fraud. One thing you cannot do however is remove negative comments from your record if they are accurate. Here's the official word directly from the FTC:
"No one can legally remove accurate and timely negative information from a credit report. The law allows you to ask for an investigation of information in your file that you dispute as inaccurate or incomplete. There is no charge for this. Everything a credit repair clinic can do for you legally, you can do for yourself at little or NO cost." — Federal Trade Commission
Author -- Rockmond Dunbar . Rockmond is an experienced
Credit Score Repair Expert and producer of
Credit Repair Kit. He is the owner of Hi Score Inc . A Guide to
Improve Credit Score and
Raise FICO score
