The Ins and Outs of Credit Restoration

Credit Restoration

Repairing your credit is not something that can be done in a matter of days or even weeks. In fact, credit restoration can be a very long and tedious process for which most individuals have neither the time nor the patience. In simple terms, credit restoration is the process of finding and removing negative information from your credit record.

The first step in restoring your credit is asking for a copy of your credit report. Each of the three main consumer credit reporting companies – Experian, TransUnion, and Equifax – is required to send you a free copy of your credit report annually, if you request for that sort of service. While you may ask for copies from all three at the same time, many experts suggest getting the different credit reports on a staggered basis. The three reports usually contain the same information and could prove useful in detecting changes made to your records over a span of months.

Second, you could either look through these reports and dispute questionable records on your own, or get the services of a reputable credit restoration company to help you do it. A credit service firm will help you file the necessary documents with the credit reporting bureaus, coordinate disputes with both creditors and credit bureaus, and keep you updated about all developments.

Credit reporting companies are required to act on your disputes within 30 days. They are also required to forward your supporting documents to creditors or other information providers. Both the credit bureaus and creditors will then conduct an investigation and send back the results in writing. If they find out that the dispute is valid, the credit bureaus are required to remove the negative information from your record and send you a free copy of your amended credit record. A credit restoration company will also help ensure that all concerned parties, such as employers, creditors, or financial institutions you’ve transacted with, receive at least a notice of correction.

If you find multiple negative records in your credit report, it’s best not to face them head-on. We suggest that you get the services of a credible credit restoration firm to help you cope with the numerous demands of repairing credit. Allow KeyPoint to do all the nitty-gritty work of credit repair so that you can focus on work and life outside of it.

To schedule a free introductory consultation, call us at 1.800.745.7400 or send us a message.