You see the ads everywhere. Companies are offering to repair your credit for a fee. But what most people don’t realize is that you don’t need to hire anyone correct inaccurate or incomplete information on your credit report. In fact, many credit repair offers are scams that, at best, waste your money and, at worst, involve you in a crime.Under the Fair Credit Reporting Act, you can challenge information that you believe is inaccurate. If the reporting agency cannot verify the accuracy of the information, they must remove it.
But it is important to remember that it is illegal to dispute information that you know to be correct. For example, those companies that claim to be able to remove negative information from your credit report even if it is truthful and accurate are engaging in illegal tactics.
Consumers are entitled to a free credit report annually from each of the major reporting agencies. Gte a copy of your free annual credit report by clicking here.
If you have errors on your credit report, you should speak with an experienced lawyer to work through the issues and protect your legal rights.
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