Credit Restoration Is Legal!

Every Day, We Are Asked This Question:  Is Credit Restoration Legal?

The answer is resoundingly:   YES! 

When the three major credit reporting agencies (CRA’s or Bureaus) started collecting and reporting data earlier in the 19^th century, the public found that inaccuracies abounded.  So Congress started taking notice due to the complaints of their constituents. In 1970, they passed the Fair Credit Reporting Act.  It has had a profound effect on the public’s ability to correct errors.

FCRA has had many updates over the years, but the main points are:

You have a RIGHT to dispute information on your credit report that you deem:

• Misleading
• Inaccurate
• Negative
• Incomplete
• Unverifiable

If during the investigation by the Bureaus, the disputed information cannot be verified as accurate, then the bureau must eliminate the information from your report. There is no charge for requesting an investigation.  If the credit bureau doesn’t respond within 30 days of your notification of a dispute item, that item must be removed from your credit report.

Only inaccurate information can be erased from your credit report.  Accurate negative information remains a part of your record for at least seven years from the time it is reported (10 years for bankruptcy).

Don’t use a company who offers to help you get credit by creating a second credit file using a false tax-id number or a new social security number.  This is sometimes called “file segregation”.  It’s illegal and you could be subject to serious penalties.

If you have a significant amount of debt, this can also affect your ability to get credit.  Some lenders will have a problem with extending credit if they see a significant amount of debt, even though all payments have been made.  The general consensus is to keep debt to less than 30% of your credit limit and to pay off the debt with the highest interest first.

There is NO requirement by law that credit bureaus report anything on you.  But because they get paid by merchants to keep track of your spending habits, this is a BIG BUSINESS for them.  They also sell your data to merchants/lenders who are interested in learning your payment histories, and who may wish to market to you.

Most people don’t have the time, persistence or experience to enforce their rights on credit bureaus.  KC Credit Services removes negative, inaccurate and incomplete info from your credit report.  We have helped numerous individuals qualify for new loans.  We can determine right over the phone if credit restoration will help you!  Call us at 877-655-8001today or click here.!