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Credit Repair

FAQs > Credit Repair

What is credit repair?

Credit repair is the process of fixing bad credit through the removal of inaccuracies, mistakes, or unverifiable information on a credit report to improve and elevate a client's credit score. It often involves engaging with credit bureaus and creditors to challenge negative and incorrect entries, ensuring that the information presented in a credit report is a true and fair representation of an individual's credit history. The credit bureaus and creditors are required by federal law to provide p...

How does credit repair work?

Credit repair is a multi-step process that focuses on auditing your credit report and challenging any inaccuracies. Steps we take to repair your credit: - Obtain Credit Reports: We start by obtaining the most recent copies of your credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion). - Credit Profile Audit: Next we carefully review your reports to identify any inaccuracies or discrepancies which may be having a negative impact on your credit. - Dispute ...

How long does credit repair take?

There is no definitive timeline for credit repair, as the process varies based on each person’s credit needs. How many negative items you have, what kind of negative items they are, how quickly your creditors and the bureaus respond to challenges - these are all factors that will influence your unique credit repair case. Credit bureaus are required to respond and resolve credit disputes within 30 days - sometimes 45 days in special circumstances. Though that seems like a short timeline, the ave...

How can bad credit be legally repaired?

At Smart Dispute, we use a compliant and strategic approach to help clients legally repair their credit by addressing inaccuracies, outdated information, or unverifiable items on their credit report. Here’s how our process works: - Comprehensive Credit Analysis: First, we obtain your credit report from all three major credit bureaus (Experian, Equifax, and TransUnion). Our team carefully analyzes each report to identify any potential errors or inconsistencies that may be negatively affecting yo...

Can I apply for credit while doing credit repair?

We strongly advise against applying for new credit while we are repairing your credit. Applying for credit during this time can lead to additional inquiries on your report, which may lower your score and interfere with the progress we’re making. New credit accounts can complicate the dispute process, potentially delaying results and reducing the effectiveness of our work on your behalf. For the best possible outcome, it’s essential to focus solely on improving your current credit profile. Once ...

How long do negative items stay on my credit report?

Negative items can linger on your credit report for up to seven years, but that doesn’t mean you have to wait that long to see improvements. Here's how it works: - Late Payments: Usually stay on your report for seven years from the date of the first missed payment. - Collections: These remain for seven years from when the account first became delinquent. - Bankruptcies: Chapter 7 bankruptcies can last up to 10 years, while Chapter 13 bankruptcies typically stay for seven years. - Inquiries: Har...

What type of items can be removed from my credit report?

Many items can be removed from your credit report, especially if they're inaccurate or unverifiable. Here's a list of items that can potentially be removed or corrected: - Inaccuracies or Errors: These are the most common targets for credit repair. If something on your credit report is not accurate, we can work to have it removed. - Old Debts: Most negative items should fall off your credit report after 7 years (or up to 10 years for certain types of bankruptcy). If they don't, we can dis...

What if all my negative items are accurate?

While you may believe the items on your credit report are accurate, many dishonest collection agencies illegally change dates and details of accounts to keep them on your reports for longer. Even if all the negative items on your credit report are accurate, there are still strategies and approaches we can employ to assist in improving your credit. First and foremost, it's essential to ensure that all the information, even if negative, is reported correctly, timely, and adheres to the legal stan...

Can inquiries be removed from my credit report?

Too many inquiries or credit applications can hurt your credit score. You can challenge any inquiry with Smart Dispute that you do not recognize, or you believe may be questionable, but the circumstances under which they can be removed are specific. Here's a breakdown: - Types of Inquiries: - Hard Inquiries: These are inquiries made by lenders or credit card companies when you apply for credit. Hard inquiries can impact your credit score for up to 12 months and will stay on your report...

Should I pay off collections on my credit report?

Deciding whether to pay off collections on your credit report depends on various factors. Here are some considerations to help you make an informed decision: - Credit Score Impact: Paying off collections won't necessarily boost your credit score immediately. In the past, paying off a collections account could improve your credit score. However, the newer credit scoring models (like FICO 9 and VantageScore 3.0) don't factor in paid collections, which means that paying off a collection might not ...

Why Avoid Speaking to Collection Agencies by Phone

They bombard you with nonstop calls, harassing you all day, but answering might be the worst thing you can do. Speaking to a collection agency over the phone can be problematic for several reasons: - No Paper Trail: Collection agencies thrive on verbal agreements that leave you with no proof. They count on you not documenting your conversations so they can twist your words or deny promises later. - High-Pressure Tactics: These agents are trained to manipulate and intimidate you. Over the phone,...

What is the Fair Credit Reporting Act?

The Fair Credit Reporting Act (FCRA) was written in 1970 as an amendment to the Consumer Credit Protection Act. The FCRA provides additional measures of consumer protection in the areas of fairness, accuracy, and privacy of the information collected by the credit bureaus. It also allows you to personally engage in credit repair and maintenance processes, verifying that the information in your credit report is correct. Here's why the FCRA was created and its primary objectives: - Protect Co...