A credit report of an individual is a summary of his credit history to check whether loan and bill payments were duly made on time or not, if there were any bounced checks and so on. This report is prepared by credit bureaus and provided for a fee to banks, mortgage companies and other lending institutions. The purpose is to help them decide about a person's creditworthiness for loan approvals. A high credit score can get approval for your loan quickly and vice versa. At times your credit report may have some mistakes in your personal details. You may also see some other errors like an overdue loan that's not taken by you, an overdraft amount that is not yours, a wrong balance and many other errors. If you are in desperate need to apply for a loan or credit card then credit repair programs can help you get these items corrected and raise your credit score to an extent that it is acceptable to lending institutions. Credit repair companies know the tricks of the trade and will navigate around rules to raise your credit score a bit. It's not possible to delete all the errors on your report but they will search for genuine and legitimate errors and work with credit bureaus to get them deleted on your behalf for a fee. However, before you use these services its best to know more about credit repair programs. Ideally there's nothing different or new that these programs do that you cannot do legally. Anyone can run through the credit report and if there is an error, can simply file an online dispute or write a certified mail to the credit bureau. The credit bureau will then get back to the source of the information and if your dispute is correct then they will make the changes at the source. You should ideally hear back from them within 30 days of sending the dispute. And if this doesn't work, it's advisable to get in touch with an attorney who will guide you further. Many of the credit report companies are fraudulent and you need to be cautious before using their services. They may ask you to create a new identity or alter the identity to clear off your bad credits, which is illegal. Most of them will claim to fix all your bad credit but do not fall prey to these scams. Opt for companies that are reputed and have been around for a long time. You should make payments only after you have received their service. It's wise to be alert and do a bit of background check before using the services of these companies. You can also know more about credit repair programs that are genuine by logging on to the internet. Make your selection based on client reviews and comments. The firms will even guide you on how you can get your credit score raised in the future. Research and know more about credit repair programs as it's easy to get scammed these days. Be sure to calculate the risks involved before you decide to use these credit report programs.
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