frequently asked questions
If you have a question, we are here for you. Here is a selection of our most frequently asked questions. If you can't find the answer that you are looking for just go to our Contact Us page and send your question over or give us a call.
How long does information remain on my report?
Credit bureaus report credit information for a period of seven (7) years. Some states have special provisions for collections and paid liens. Chapter 7 and Chapter 11 bankruptcies are each reported for 10 years, and chapter 13 bankruptcies is reported for 10 years, both measured from the date of the filing.
What if Deleted Items Reappear on My Credit Report?
On occasion, a negative listing that was recently deleted will eventually be verified by the creditor. The Fair Credit Reporting Act requires that the credit bureau inform you of reinstatement of a previously deleted listing. The FCRA also makes it more difficult for credit bureaus to re-report listings. Because of these factors, it is fairly rare for listings to come back on your credit history once they've been deleted. If an item is re-reported, it is a simple matter to challenge the listing again at a future time in order to press for permanent deletion.
Does Paying Off My Bills Repair My Credit?
You would think that would be true. But, again, the credit reporting system just doesn't work that way. When you pay an old debt, the negative credit listing doesn't disappear. In fact, it re-ages and the seven year clock begins again with that negative listing. And, the most ironic thing is that a paid, current negative listing is not any better than an unpaid negative listing. That's not always true, but in most cases, you won't get much further by paying the old debt. The good news is that we can help you settle those debts and save you a lot of money in the process.
Why should I use a Credit Repair Company?
The most common reasons are that individuals either have already tried themselves or obtained limited results, or they just don't have the time to undertake this task. If you decide to use us, you can be assured that you will be receiving the best assistance and service possible.
How long does the Credit Restoration Process take?
The Credit Restoration Process varies in time length for each individual client. Acknowledge these key words "process" and "individual." Synonyms for the word process are; procedure, progression, course of action or system. Synonyms for individual are; private, personal, special, or for one person.
Any individual that has more serious credit related issues such as a previous foreclosure, unpaid tax liens, civil judgments, bad debt charge-offs, multiple collection accounts or a previous bankruptcy may require more effort and time spent than another with only minor credit issues. Although consumers should have high expectations of our process, they should also retain some sense of realism. The process will take some time. Patience, individual fortitude and resilience are all considered to be required prerequisites of any of our potential clients.
One should not expect some "miraculous" event where every single negative item or personal liability owed gets wiped clean from the credit reports. The reality is that a bad credit rating or low credit score cannot somehow be "magically transformed" to a "sparkling clean" credit history over a matter of a couple days or weeks. In other words, there is no "magical wand" effect. It is a matter of getting professional help and resolving past issues in an acceptable and affordable manner.
New clients should allow a minimum period of three months for significant or desired results to be realized. Keep in mind, usually credit problems that are being addressed have taken several years to make. Some debts may need to be resolved through negotiation, mediation and/or settlement strategies which may extend the process. No one person's credit issues or problems will be exactly the same as another. Every situation differs as does each and every person who comes to us for help.
If unresolved credit issues are currently preventing you from obtaining your needs, wants or desires, you may be at a "defining moment" or "turning point" in life. Those who start the process and follow it through to the end will experience a life changing event. For those who decide to do nothing, that same event may not come to pass. In simple terms, the options become; (1) Begin the journey forward for a better financial future and an improved quality of life, or (2) Stay idle and stagnated in the same situation. The decision is yours.
Bill collectors call me repeatedly at home and on my job. What can I do? What are my rights?
Bill collectors are legally allowed to contact you if there is a legitimate debt owed. But, they cannot continue to contact your place of employment if it jeopardizes your continued employment. Employers want personal issues of their employees to be left at home. This includes calls from bill collectors. Also, how would you pay the debt if you lost your employment? Personal issues concerning your financial problems should not interfere with the workplace environment.
I have previously filed for Chapter 7 Bankruptcy. Can Credit Restoration still help me?
The Credit Restoration process is an essential part of financial recovery after bankruptcy. Credit reports are not updated with the status of previous debts owed until the bankruptcy is fully completed. Creditors also may not update accounts discharged through bankruptcy without adequate evidence. Although the initial filing stops creditors from pursuing collection measures, the liability remains until the court formally discharges the debts.
Some individuals file bankruptcy only to have it dismissed later. Creditors have become quite aware of this occurrence. For that reason, creditors do not discharge debts owed based on a bankruptcy filing alone. The initial filing only prevents further collection activity, legal actions and creditor contact.
As well, the bankruptcy attorney's job is usually completed when you receive a letter of "Discharge of Debtor" from the United States Bankruptcy Court. Attorneys are not responsible for updating any previously reported information to the credit reporting agencies. Nor is the U.S. Bankruptcy Court. Credit reporting is a separate issue apart from the bankruptcy process.
I am a victim of Identity Theft. Is it possible to repair the damage to my credit record?
Yes. In all identity theft or credit fraud cases resolved for clients, one thing can be noted. It does require a more in depth investigation pertaining the debt(s) origin to get fraudulent accounts removed from credit record files. But it is possible.
It makes no sense for an individual to suffer financially because of another person's criminal behavior. Although, it happens on a much larger scale than people think. It is a growing problem nationally. Not only do creditors lose millions of dollars, but also the person wronged suffers financially. Recently under new guidelines of the Fair Credit Reporting Act, consumers believing that they are the victims of credit fraud can get their credit reports for free.
Is credit repair legal?
Yes, although it depends on the method. For example, while it is legal to challenge negative items on your credit reports which you believe to be inaccurate, misleading, or unverifiable, accurate information is supposed to remain on your credit report. By contrast, it is entirely illegal to create a "new" identity by applying for an Employer Identification Number to use instead of one's Social Security Number — a process known as file segregation.
Why does credit repair carry a negative connotation?
Credit repair's reputation can be traced directly to exploitative and predatory companies operating within the credit repair arena such as that advocating file segregation. Many are reckless fly-by-night operations seeking a quick profit. Unsuspecting consumers are the unfortunate victims of such operations, and the damage inflicted upon them reflects negatively on the industry as a whole.
