Ok, so you finally got your credit pulled and you have some confusing jargon stuff that you do not know what they even do? How about some actual, pertinent information that someone could use to help their rating or score don’t you think you should have everything in black and white, so that you do not have any last minute surprises, and do some approval credit repair letters?
If you have ever applied for some type of financing, you know what a simple process it really is. You fill out an application with some information about yourself, and then you are either approved or not. The ‘process’ can be very confusing, and most consumers do not feel their experience makes sense. With so many people trying to repair their credit, it seems like only one aspect of the credit system is being talked about.
One of the most overlooked parts of credit repair is the actual approval process. It is more difficult than most assume, and not always easy to get through. With the credit bureaus having been forced to change their practices and guidelines, the approval process is taking longer than it has in the past. It now involves going directly to the source, in this case the creditor, to see if they can be helped. Most creditors are still turning over files to credit bureaus because they want to be able to report their situation. This only means they do not always hand over the records directly, but they are often more receptive to being faxed direct to the bureau.
If the creditor is trying to avoid producing the record to the bureau, they will do everything they can to change that. Identity damaging lawsuits are a common thing for a creditor to pursue, and many likely will try to get you into some kind of settlement just so they can move forward with the process. The thing to keep in mind is that if they are going to be resistant to producing the records, it is actually a positive thing for your score. If they are willing to go through with the kind of work that it takes to make a report, it is likely to increase the amount of work you have to do, but it is still going to be the right thing to do if you want the change you want your file to reflect.
You want to also factor in, of course, the fees of an attorney you may be thinking about hiring. These attorneys are often going to be the ones who are trying to wipe out some of the information on your file that cannot be verified. This can seem like a huge waste of money, but consider that making amends will be all that you are going to be doing at the end of the process. In the end, the repair does last quite some time, especially if you are going through the process with an expert in the field of credit repair.
You also need to consider that bureaus have a window of patience when it comes to handling disputes. It used to be that after 7 years, the entry could no longer appear on your credit report. That is no longer the case, and you should expect your file to remain on your credit report for at least 7 years after the fact. Therefore, no matter how bad the situation looks, give it time. It is the credit bureaus job to keep files, and they are in fact in the low err on the fence as long as you are willing and able to try to fix the situation.