The Basics to Understanding your Credit Score pt1
History of Credit Report Repair
A U.S. District Court Judge by the name of Judge J. Wexler entered into law the following legal opinion that third parties could assist in the correction of credit reports. This is how credit repair companies became part of the private business sector.
This created a big problem for the credit bureaus. Understanding that credit repair companies would invest years to find out the credit bureaus operational procedures and figure out the loops holes in these laws necessary to remove a client’s bad credit early.
Simply put, credit bureaus are privately held companies only in existence to make a profit. Forced to combat this devastating legal decision they realized it would be far more cost effective to spend a few million dollars a year convincing the American public that these techniques simply don’t work. By spreading propaganda and discrediting credit repair companies, the “big three” saved millions of dollars a year by convincing the American public that negative marks or bad credit must remain in your credit file for at least seven years? This statement simply just isn’t true and we prove that everyday.
Creditors on the other hand, are responsible to report 4.8 billion pieces of information to these credit bureaus daily. They just don’t have the resources or time to do their job effectively or efficiently. Creditors simply make a lot of mistakes in their filing procedures to your credit file. These mistakes in their filing procedures make it possible for us to remove these items legally and permanently.
There is another law contained in the Fair Credit Act of 1934 that you should be aware of; it states any frivolous request for an item to be investigated or re investigated may be ignored by the credit bureaus. That’s right; a credit bureau can legally ignore your request for a dispute based on one pretext or another. This is where FR Credit Repair comes to work for you. Let’s face it; you wouldn’t represent yourself in a court of law. Well your credit score is much too important and should be handled by a professional specializing in this area only. Our expertise in the Fair Credit Reporting Act Laws and years of experience with credit bureaus are essential to your success! Simply put, FR Credit Repair can make the difference between you being approved for a loan or not.
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