You have the right to dispute items showing up on your credit report. In 1970 the FCRA or the Fair Credit Reporting Act was enacted that gave consumers the right to dispute any item showing on their credit report that is inaccurate, incomplete, untimely, misleading, unverifiable, biased, ambiguous or unclear. This includes such things as bankruptcies and foreclosures.
False identities, inaccurate balances, untimely listing, overly ambiguous listings and more frequently show up on credit reports. You can dispute anything that shows up on your credit for any reason if you feel that it is not completely accurate. After you issue a dispute the creditor and the credit bureau have a certain amount of time to verify the accuracy of the listing. If it cannot be verified within the time frame then it must be removed from your account.
However, the FCRA does not give you the right to ?debt repair?. If there is a valid and accurate debt showing on your credit you cannot legally get it removed. When you owe a debt you are liable for it until it is paid off. Credit repair cannot be used in a case of someone trying to evade a legitimate debt.
There are critics of credit repair that tend to confuse the two issues. Debt repair is not legitimate and it is not legal. However, credit repair is a useful and valid service that many people can benefit from.
If you have an honest, reliable and accurate listing showing on your credit report you do not have the right to get it removed. However, if the listing is completely inaccurate, ambiguous, misleading, unverifiable, biased or outdated you have the right to issue a dispute. You just don?t have the right to remove a valid debt from your credit report.
If you have problematic debt, there are a few options that you can take advantage of. You can pay the debt down or pay it off. You can consolidate all of your debts into one, fixed rate loan or you can talk with your creditors and see if they are willing to settle the debt in any way. This can relieve you of your debt but it can damage your credit.
But credit repair cannot be used to get out of paying a legitimate debt. Credit repair is for inaccurate credit but it cannot legally be used for debt repair. However, do not let this dissuade you from taking advantage of your rights to credit repair. If you have negative or inaccurate credit you have the right to try to get it removed.
You can issues disputes and do credit repair on your own or you can use a legitimate credit repair organization. There are a few outstanding companies that operate within full compliance of the law. These companies offer a valuable and beneficial service that can help you clean up your credit if you have listings that are inaccurate, misleading, incomplete, biased, or ambiguous.