Credit Repair - The importance of maintaining good credit

To a lot of people, maintaining a respectable credit history is crucial to obtaining housing, insurance, employment, and other necessities.  Unfortunately, the prevailing economic conditions have wreaked so much instability in the labor market that even responsible consumers have been pushed into overwhelming debts.  It is within these circumstances that individuals become victimized by disreputable organizations that provide to magically clear-up their credit histories.  In their bid to regain their economic independence, they end up losing additional time and cash. 

How, then, is one able to separate legitimate credit improvement organizations and credit repair scams?  The key to answering this real question is to examine the provisions of Title IV from the Credit Protection Act, better known since the Credit improvement Organizations Act.  According to this law, credit improvement organizations are prohibited from charging upfront fees prior to the completion of any agreed upon credit repair service.  These organizations will also be required to inform their prospective clients of the rights and also the steps they are able to undertake their own to fix their credit histories.  

One important right that consumers have is the to be aware of items in the reports from credit reporting agencies concerning them.  As these reports become the bases for decisions on their loan applications, they have to ensure that all of the reported information are accurate and true. 

There are three major consumer reporting companies in the usa: Equifax, Experian, and TransUnion.  All turn out required legally to provide consumers with a free copy of their credit reports once every 12 months upon the concerned consumer’s request.  

In occasions when consumers do find inaccuracies in their credit file, they have the right to dispute the info and also the consumer reporting companies are obligated legally to research the dispute within 30 days.  It is important to take note though how the only stuff that can be cleared up from one’s credit report are any mistakes.  No individual or credit improvement organization has the power to legally eradicate any accurate negative information from a credit report, and also to claim otherwise is simply plain deception.

In conclusion, consumers have to exercise caution when availing the expertise of credit improvement organizations.  If ever they opt to achieve this, they need to check what their rights are, and the obligations of these organizations underneath the law.  

The process to delete bad credit can be time consuming. If you are working within a certain time frame and need a faster process, options are available. Reading through your credit report and eliminating the negative marks, through disputation, can erase bad credit. Visit the following link for more information on how to repair your credit quickly and legally:

Fix Bad Credit