A credit repair service is a company that will handle the dispute process and will attempt to remove bad credit on your behalf. Additionally, they can help with debt validation, debt negotiation, court intervention, goodwill intervention, and escalated dispute requests.
You should also ensure that whoever you hire has attorneys on staff if your case requires legal representation. We would encourage you to avoid hiring a private attorney because they will often charge you an hourly rate, which will quickly turn into an expensive bill.
How does the credit repair service work?
All you have to do is forward a copy of each one of your credit reports and indicate what items you want the service to dispute for you. The next step is merely opening your mailbox and reading the communications from the credit bureaus regarding your dispute.
You typically will get a letter requesting more information about the dispute; forward this on to your credit repair company. It is a common tactic of the credit bureaus to seek more information from consumers. However, this is nothing more than the bureaus stalling. They hope and have seen that by doing this, many individuals will give up and live with bad credit.
Then the bureau deems your dispute valid and investigates it by contacting the lender or collection agency to verify the account and the details regarding it. The lender or collection agency will not check the account with the bureaus. According to federal law, the bureaus must then erase the item from your credit report.
The reason lenders rarely verify old debts is because they have already taken the tax deduction for the mortgage and sold it off to a collection agency. In other words, lenders have nothing more to gain by spending person-hours and resources verifying any non-collectible debts.
If you have an item that is verified by the credit bureaus, then by legal professionals working on your side, you will still have options to remove this item. It may call for debt negotiation or court action. The bottom line is you don’t have to live with bad credit no matter what.
One seldom known fact is that before you pay any old debts, you should request debt validation. You can do this, or if you have a professional service working with you, then they can do it on your behalf. This request will require the debt collector to give you legal evidence that they can collect your debt and own your debt.
There are many rumors in the debt collection industry that agencies will sell a debt but continue to contact the individual for payment. Further, there are many documented cases where the debt collector could just not come up with the paperwork to show that they owned the debt. If this happens, your debt is wiped clean; you don’t have to pay, and it is an easy item to remove from your report.
So why wait to visit https://bluewatercredit.com/, the website of Blue Water Credit repair company to get the best service from a professional and reputable provider with long-term experience in the industry.