Steven A Williams of The Credit Repair Shop has launched a new report focusing on the benefits of using a credit repair service, especially when living a busy lifestyle. It explains that the major credit reporting agencies won’t tell people about their rights under the law, and companies can easily place inaccurate, outdated and unvalidated negative items on all three credit reports.
More information can be found at: http://thecreditrepairshop.com.
The report details that the consumer has a right to make corrections on their credit reports and that they should do this by mail and not online, because the major credit reporting agencies don’t allow for enough characters to be used in their online forms. This means that consumers don’t also have to wait seven years for the negative items to drop off their credit reports.
Fixing bad credit can be highly important in today’s world, where credit score is used to classify borrowers and tell financial lenders how risky it will be to lend money for goods or services. However there are a number of problems with this.
First and foremost, there is confusion over the three different types of numbers used. The three major credit reporting agencies, Transunion, Experian, and Equifax, use different number ranges to classify borrowers, and each number range is different.
Normally, creditors will use a combination of the different scores to get an average rating, but this is problematic when the numbers are so different. In addition to this, when there are elements that bring bad credit rating to someone’s record, it can make it even harder to get back on track.
People have rights to validate any negative items that appear on their credit reports for accuracy, outdated information and validation of negative items if purchased by a collection agency.
Credit reporting and overcoming bad credit can often be a confusing process, and it’s for this reason that the report was launched, to help people get the best deal for themselves and their families. Interested parties can find out more by visiting the URL above.
Release ID: 164203