Credit Restoration FAQ Section
If your questions are not answered here please use the contact form on the contact page
Do the Credit Companies Have to Share My Information With The Bureaus?
In order to prevent identity theft, the credit companies are required to share your information with the bureaus. The bureaus keep a record of all of your financial transactions including when you make a purchase and when you repay a debt. This is important for credit companies to verify that you are who you say you are and that your credit report is accurate. An example of this is the credit card you used when buying your new phone.
I Want to get started with my credit repair, but who should I contact?
Go to the sign up page and fill in the required information and I will contact you with the next steps.
What is the purpose of a credit score?
A credit score is a number that is calculated based on your credit history. It can be used to help predict your likelihood of paying back loans and other types of debt.
The purpose of a credit score is to predict the likelihood that the person will pay back loans and other types of debt. This number is calculated by looking at your credit history and it can be used to help make decisions about whether or not someone should get a loan or what interest rate they should be charged for the loan.
What is an FCRA dispute letter?
An FCRA dispute letter is a letter that is written by an individual who has been denied credit or had their credit score lowered due to a violation of the Fair Credit Reporting Act.
The purpose of an FCRA dispute letter is to initiate the process of correcting a person's credit report. The letter should include the following information:
-The consumer's name, address, and phone number
-The date and time that the consumer contacted the company about their credit report
-A detailed description of why they believe their credit report was inaccurate or incomplete
-A copy of any documents that support the consumer's claim such as copies of police reports, court records, etc.
What is the Fair Credit Reporting act?
The Fair Credit Reporting Act (FCRA) is a federal law in the United States that regulates how credit reporting agencies (CRA) collect, share, and store information about consumers.
The FCRA provides a framework for the operation of CRA and their use of data. The FCRA also gives individuals rights to know what information is in their files and to correct or dispute any inaccurate or incomplete information.
How do credit reporting agencies use the information they get?
Credit reporting agencies collect and analyze information about the creditworthiness of individuals and organizations.
Credit reporting agencies are in charge of collecting, analyzing, and sharing credit data with other financial institutions. They are also in charge of helping consumers get access to credit by making it easier for them to apply for loans.
Credit reporting agencies use the information they get from consumers to determine their creditworthiness. They use a variety of sources such as public records, consumer reports, inquiries from lenders, and information from other financial institutions.
How do I know if I have bad credit?
Everyone wants to know how they can get a good credit score. But what if you need to know the opposite – how do you know if your credit score is bad? There are a few ways you can find out if your credit score is bad.
The best way is to enlist in a credit monitoring service. For a small monthly fee they will provide you with all 3 credit scores and full credit reports from all 3 agencies. I use and recommend Credit Hero