Nothing But The Real Truth About Credit Repair
Accurate and timely information cannot be removed from your credit report, even if you have paid off a once delinquent debt. The fact that it is paid off is to your credit; however, the fact that the account was once delinquent is also true and can remain on your credit files from up to seven years..
Bankruptcy information can be reported for up to ten years. Information reported because of an application for a job with a salary of more the $20,000 has not time limit. Information reported because of an application for more than $50,000 worth of credit line or life insurance has no time limitation. Default information concerning a US Government insured or guaranteed loan can be reported for seven years after certain grantor actions.
Information concerning a law suit or a judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer. No one can legally remove accurate and timely negative information from a credit report. The law does, however, allow consumer's to request an investigation or re-investigation of the facts and information in your credit file that you dispute as inaccurate or incomplete. Which I can help you with that in a timely manner saving you time and frustration of not doing it the right way the first time. Everyone agrees that we need an oil change for our cars but how many of us do it ourselves. Think about it, its messy and so are the credit bureaus.
Credit repair clinics or services can't do anything to improve your credit report that you can't do for yourself, at little or no cost. Avoid companies that want you to pay for credit repair services before they provide any services. It is illegal for telemarketers who offer credit repair services to request payment until after they have delivered the service.
Everyday companies nationwide appeal to consumers with poor credit histories. They promise, for a fee - usually paid up-front - or setup fees, or first work fees to clean up your credit report so you can get a car loan, a home mortgage, insurance, or even a job. The truth is, says the FTC, that they can't deliver on their promises and claims.
According to hundreds of reports, consumers pay hundreds or thousands of dollars in up-front fees and these companies do nothing to improve your credit report, many credit repair companies simply vanish with the consumer's money. These companies do not tell you your legal rights and what you can do yourself for free. They often recommend that you do not contact a credit bureau directly. Lawyers are the ones who are known to do this.
Or they advise you to dispute all information on your credit report or to create a new credit identity which is illegal. If you follow any illegal advice or commit fraud, you also may be subject to prosecution.
Written By Educational Credit Consultant-Wanda Strickfaden
Sunday, August 10, 2014
Labels: Information concerning a law suit, Nothing But The Real Truth About Credit Repair, Wanda Strickfaden review
Wanda Strickfaden has an incredible ability to motivate and educate our country. Strickfaden is a public educational speaker on all things credit. You can buy her 2nd edition book Credit Repair: Real Answers To Your Credit Problems which has been nominated for Book of the year award.Wanda Strickfaden appears on Radio and TV to discuss current news on the credit scoring system with overwhelming positive feedback from audience members. There is never a dull moment when she gathers people together for social events and meetings. Follow Wanda Strickfaden to get updated on interesting and relevant content.Wanda Strickfaden welcomes you to send her messages on google +