Credit repair is a service provided under the CROA that allows credit repair service providers to assist consumers in the correction of items on their consumer credit reports that prove to be inaccurate, outdated, or unverifiable. Any credit repair agency that claims to be able to remove ANY item other than those identified above is in violation of the Credit Repair Organizations Act (CROA).
Our service works by working with the creditors and credit bureaus to find legitimate reasons to have incorrect, unfair, or questionable items removed from our clients' credit reports. Often, we can find violations of certain requirements of those creditors. If we do, we leverage those violations as a way to get the creditor or bureau to remove the item in question.
This is a tricky question. For one, we can't tell you upfront that ANY item can or will be removed from our clients' credit reports. Again, like all legally compliant credit repair agencies, we can only remove items that show to be inaccurate, outdated, or unverifiable. However, MANY items on most people's reports could fall into one of those categories. For a list of items we have helped remove in the past, check out our results page.
We provide all our clients with an estimated time frame for service. In general, clients are usually with us from 3 to 6 months. However, this is not saying all items will be removed in that time frame or that all items will be removed at all. This is just the usual time frame people choose to stay in our program. Since we do not charge deletion fees until we achieve results, we work to achieve those results as fast as possible. Want a more detailed answer... check out our Timeline.
For our credit repair or other services costs, please refer to our pricing page. This section will serve to inform you of all other associated costs. These costs may include:
- Credit monitoring account will cost roughly $15-$30/mo.
- Postage. Some letters are recommended to be sent certified.
- Printing, Paper, Ink, Envelopes. This is a negligible cost, but hey... you asked about ALL associated costs.
Most other credit repair companies mail your correspondence for you. They do this to hide their tactics from you. They don't want you to see that all they do is claim the items are "not yours" over and over. In our service, you print, sign, and mail your own dispute letters. We, of course, create all of this correspondence for you, so your job is very easy. The reason we do things this way is quite simple. The FCRA allows the bureaus to ignore any letter that does not come directly from the consumer. They can't claim the letter didn't come from you if it has your signature, includes your proofs of identity, and was mailed from your zip code.
The simple answer is because the credit bureaus say so. Unfortunately, there is wording in the law to require you to give them information. If you don't supply the proof of your identity and address, the bureaus will simply ignore your dispute and you will get nowhere. Below is a list of what can be used as proofs.
As much as we would like to, there is simply no way to know the answer to this question. There are far too many factors involved in the credit scoring model; the biggest variable being the "human factor". We don't know what you are going to do during this process. You might get new lates, max out credit cards, get new credit, get new collections, get a judgment placed against you, or one of hundreds of other things that would change the outcome of your service. REMEMBER! CreditNerds.com is hired only to help remove items from your report that you wish for us to work on, the score change is simply a byproduct of our service.
We must make it very clear, CreditNerds.com does not give any type of loans or financing. Therefore, we can not tell you if you will be approved for any of those things. Many people come to us with very poor credit and hope to be approved for loans or funding programs with very strict financing guidelines. Remember from above, if we can't promise you ANY item is going to be removed from your report, how could we possibly assure you that you will be approved for a loan after working with our program? We are here to help and we help hundreds of people, but please do not expect miracles.
Short and sweet... NO. We want this service done as fast as possible. Think about it, we don't get deletion fees until items are removed. We would love for there to be a legal way to make things "disappear" in seven days. However, it just doesn't exist. Now for a little more detail... From the time the credit bureaus receive your dispute, they have 30 days to respond. This leads some people to believe that if it has been more than 30 calendar days, then they MUST remove those items. This is simply not the way it works. There are sections of the law that allow them additional time under certain conditions.
Some companies try to speed up their service by using online disputes. There are a whole host of reasons NOT to do this. Additionally, you should never dispute online either. Here's why:
When a dispute is entered online, it goes into EDRP or expedited dispute resolution process. This sounds great until you read a little further unto the FCRA. It clearly states that if a dispute goes into EDRP then the bureaus do not have to comply with certain sections of the FCRA.
Did you hear that? They get to ignore the law!
The sections they don't have to comply with are also quite handy in the credit repair process. One section is the "Method of Verification" section. If an item comes back as verified, they don't have to tell you "HOW" it was verified. Another section is the "Re-Insertion Letter" section. Usually, if an item is deleted, there are steps the bureau must follow in order to be able to re-insert that item. One of these steps is to send you a re-insertion letter before placing the item back on your report. The simple cost of creating and sending this letter drastically limits the amount of re-inserted items. If an item is processed under EDRP, THIS LETTER IS NO LONGER REQUIRED! They can just put the item back whenever they get good and ready.
Just take our advice... Don't dispute online.
Credit repair is kind of like getting your car fixed... The mechanic is going to need to see under the hood. You keeping a monitoring service is our way of looking under your proverbial credit "hood". It allows us to see exactly what needs to be done and check up on the bureaus and creditors. When they say something has been changed, we want to make sure it is REALLY changed.
Below you will find a collection of credit law references. Check them out, knowledge is POWER!
FCRA - Fair Credit Reporting Act
CROA - Credit Repair Organizations Act
FACTA - Fair and Accurate Credit Transactions Act
FCBA - Fair Credit Billing Act
TILA - Truth in Lending Act
FTC - General website for the Federal Trade Commission