At a very basic level, credit repair is cleaning up your credit report to improve your credit rating. Credit repair agencies try to help people improve their credit scores by reviewing their credit reports and correcting or eliminating negative or incorrect information that was reducing the score. For example, a credit repair agency cannot state exactly how its service would improve that rating. Credit bureaus have 30 days to respond to a dispute, and during that time, the disputed items are not considered in the person's credit score.
When determining strategies to pay off the supply of credit card debt more quickly, you'll likely consider the option of transferring your credit card balance. The more negative or erroneous information you remove from your credit reports, the healthier your credit score will be. Credit repair agencies may try to sell you all kinds of things, but no matter what, they have to disclose the costs up front. Under the Fair Credit Reporting Act, you have the right to clean up your credit report for accuracy.
This may consist of a cease-and-desist letter addressed to debt collectors on your behalf, but not all credit repair companies will offer it, and the process may vary depending on the company and the individual's needs. The dos and don'ts of managing a credit score can also be useful when it comes to improving credit.