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Credit Repair Companies- Credit Law Center

Credit Repair Companies

First, what is a credit repair company? The definition of a credit repair company might be different then you think here is CROA’s definition (federal law that governs credit repair companies)  The easiest way to explain what a credit repair company is; it’s a company that charges a fee to assist a consumer in disputing or assisting and consumer with their credit report. A good credit repair company will do more than just send letters to the credit reporting agencies for you. The credit repair process normally needs more than just disputing items on our credit report. Unfortunately in the current credit system we live in, no credit is the same as bad credit. Knowledgeable credit repair companies will assist you in establishing credit as well. If you are just starting out with no credit history you can and probably will be treated the same as someone with “bad” credit. Here is a great resource to help you establish credit: Here you will find accounts that are designed for people who have no credit and people with bad credit. Please keep in mind these are accounts that are designed to help you establish credit. T  hey are not the cheapest cards or products but they will get you a trade line.

Good news/ bad news, once you have opened a trade line or an account you are on your way.  However, it will take 6 months of history before you will be able to generate a credit score. This is just some basic information that a good credit repair company should be telling you.  Credit Law Center hopes that you work with them, but if you choose not to, Credit Law Center hopes that you find a good company that is a member of Nasco and complies with all the federal and state laws. You will find that the best companies are law firms that practice in consumer rights and are well versed in the Fair Credit Reporting Act.

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