Traditional Rip Off
If you have issues with your Credit Score/Credit File, DO NOT look to Credit Repair for your answer
The reason for this is because credit repair does NOT work.
How the Rip Off Works?
- Quite simply put, the way that traditional credit repair companies work is that they will write letters to the credit bureaus on your behalf and explain that those items were not yours, that you did not recognize them or that they had errors on them and must be removed.
- They mail these letters off and hope that the bureaus will be nice and agree with them and delete them from your credit report.
Why Doesn’t It Work?
- The issue here is that the credit bureaus are largely unregulated when it comes to internal procedures. The credit bureaus are private companies, they are not government agencies.
- The ONLY thing that they must agree to do is to respond to your request in 30 days. The truth is, your file is handed off to a data entry person located overseas. They have 3 minutes to review your file.
- They look to first see if an item you dispute has been disputed in the past and if it is, they leave the item there as verified.
- If it has not, they send a request to the creditor and if the creditor states that you have a file with them, it stays.
- Therefore, only a small number of items are ever removed from your credit report.
- It is also why unscrupulous companies have people sign up for a monthly fee and take 24 months to finish a file. Many items on a credit report will fall off within a 24-month time frame (since things can legally only stay on a report for a certain length of time).
When they fall off anyway, these credit repair companies take the credit for it. TOTAL RIP OFF!