Do not let the credit repair process overwhelm you. Credit repair new Orleans is here to help.
Repairing your credit is not as difficult as you probably have heard it said, but it takes time and diligence. Simply use this guide and follow the steps to analyze your credit report, find errors that could damage your score, get advice on how to dispute those errors and avoid scams.
Obtain a copy of your report
The first thing you should do is request your free credit report from the three big agencies. Here is the information for your convenience, or you can visit https://www.whitejacobs.com/credit-repair-new-orleans/. The three agencies are: TransUnion, Experian and Equifax, who offer the same address and telephone number to contact them regarding a free report:
Review your reports for errors
Once you receive the reports from each credit agency, review them carefully. The reports will be different in each agency, so this will take some time. Search:
Errors in personal information, including names (and their variations), Social Security numbers or addresses
Negative elements, including bankruptcies, lawsuits, seizures, collection of accounts or overdue payments that are incorrect and / or outdated
The consultations of companies that you do not recognize. When a company reviews your credit report, information of the fact is created. Investigations on the report of companies that you do not know, can sometimes indicate fraud
Use this worksheet to list the problems that are found in the three credit reports. If you have any questions, contact the appropriate agency using the toll-free telephone numbers.
Repair credit worksheet
It is important to keep in mind that if there are legitimate negative elements in your reports, you cannot change them. What you can do is not make the same mistakes again and wait for the sanction period. Delays in payments, accounts in collection, debts declared uncollectible (charge-offs) and other items in public records, normally remain in your report for seven years.
Bankruptcy of Chapter 7 remains in the report for 10 years and tax charges pending payment, up to 15 years. The major credit bureaus will be able to eliminate Chapter 13 bankruptcy (where some of their debts are paid) in seven years from the filing date.
As the negative information gets older, the less damage you will do to your credit score. Current positive credit information, such as timely payments, can improve your score, even if the negative elements still remain on your report.
Disputing for errors
This is the hard part; It is almost an art form because you must be very meticulous. All your complaints must be in writing (letter form). You can write to both the credit bureaus and the creditor who provided the negative information. You can also make a phone call before writing to the creditor to try to quickly resolve the problem.
If that does not work, the Federal Trade Commission (FTC) offers a model letter for your convenience. Include copies (never originals) of the documents that support your position along with the letter. Establish only the facts in your letter and why you are disputing the information. Send the letter by certified mail, with an “acknowledgment of receipt” so that you can verify that the credit agency received it. Keep copies of everything.
The credit bureaus must act within 30 days of receiving your information and send all the information you have provided to the credit card company or other lender that has provided the disputed information. After receiving the information, the lender should review, investigate and inform the credit agency. If you are right and the information in dispute is inaccurate, the lender must notify the credit agency, which will allow them to correct the information in your report, solving the problem.
Once the review is complete, the agency is responsible for giving you the results in writing and a free copy of your report with the points in dispute (items) extracted from the report if the information cannot be verified. And you can request a copy from any employer that obtained your report in the last two years.
If the dispute is not resolved in your favor, you have the right to add a 100-word statement to your credit file explaining your version of the facts. This, however, may not be very useful, since most creditors will not be able to see or read that statement. It might be better for you, hire a lawyer specializing in consumer law or contact the Federal Trade Commission.
Avoid scams in credit repair
When your credit score is low, tensions are high and it is easy to become desperate to fix the situation quickly. That is when the scammers come up with guarantees such as:’s we can erase the bad credits or’ we can eliminate bad loans or liens on your credit. Nothing of this is true.
The CROA is applied by the Federal Trade Commission and requires credit repair New York companies to explain to you:
- your legal rights in a written contract that also details the services you are going to perform
- your right to cancel without charge, within three days
- how long it will take to get results
- the total cost that you will pay
Trying to resolve credit disputes is a long and arduous job, but it can be done. Just take your time, keep everything in writing, and do not fall into a quick solution, because this will bring you bigger problems in the future