Credit Repair and Credit Restoration: What’s the Difference?

Did you know that there is a difference between credit repair and credit restoration? If you try to repair your credit report, you will be writing letters and begging the reporting agencies to remove items that you think are inaccurate. Even if you are successful in removing an item, it will be back again after the dispute period ends and the entire process must be restarted. It’s a waste of time!

Restoration, on the other hand, disputes the right of reporting agencies to report your financial information because they operate illegally under federal law, which is pretty simple. The information must be removed or the reporting agency will face a severe fine as prescribed by federal law.

The Fair Credit Reporting Act says that credit reporting agencies must have verifiable evidence to legally report anything, which means that they must have an original document with the client’s signature and it must be in their possession.

You can plead (repair) the reporting agency to remove your bankruptcy, possession, foreclosure, late or late payments, and even those little credit card debt write-offs or you can request legal proof (restoration) that doesn’t they have and therefore you must remove the item on your report or pay a penalty when you require it to be removed and that means “any” item.

These reporting agencies are making millions of dollars operating outside of government rules because people just don’t know what the law says. You can read the law by searching for “Section 609 (a) (1) (A), Section (a) (1) (A), and Section 611 (5) (A) of the FCRA” and then letting that information sink in later. that you see for yourself.

Quite an amazing little law, right? So if you go in and force the reporting agencies to remove all the negatives from your report, you may be in a “nonexistent” state when your report is verified for, say, a life insurance policy. , renting an apartment and, in some cases, getting a job or even applying for credit!

You see, removing the bad stuff from your report is elementary and very easy to do. The real problem arises when you try to add good things to your report and that’s where most people run into trouble. There’s no law that says good things should be added when you ask, but don’t worry because it’s easy to do too.

Now that you know the difference between credit repair and restoration or how to remove any item, you may want to consider going one step further and learning how to get banks to eliminate credit card debt and make debt collectors pay. fines when they illegally try to collect money from you. This whole credit thing just requires a bit of education on the knowledge of the royal laws.