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With so much information available online regarding credit repair, you might begin to wonder if credit repair is possible or, for that matter, legal. In short, yes, you have the right to repair your credit and the U.S. government has even enacted laws which give you this right.

Do Credit Bureaus and Creditors Want You to Clean Up Your Credit?

In the credit world, creditors and credit bureaus would like you to think that credit reporting is infallible and unchangeable. In reality, it is in their interest only for you to believe this.

How does it benefit these businesses if you take away their ability to collect debts? The answer is it DOESNT. If your credit report is accurate, they stand to lose, not gain. This is where the common myths about online credit repair originate.

With regard to your legal rights, the Fair Credit Reporting Act (FCRA) was enacted to protect your right to challenge any negative entries or information shown on your credit report. This is information which the lending agencies would prefer you didn't know.

The FCRA forces both creditors and credit bureaus to conduct an investigation and report their findings back to you. They have 30 days to do this and, if a specific negative item cannot be verified, they MUST delete it. This is a legitimate way of repairing your credit and improving your credit score.

Without Taking Steps to Fix Your Credit Reports, You May Live with Bad Credit for 7-10 Years

Instead of remaining on your credit report for up to 7 years, a negative item could be removed quickly and give you a fresh start when it comes to rebuilding your credit. If youve made the decision to repair your credit, consider contacting the experts at Lexington Law who can tell you where to start and assist you through the process of credit repair.