repair credit score

BuildMyCredit Can Help Rebuild Your Credit

Laguna Hills, CA (PRWEB) November 04, 2011

There are no laws that say credit information is required to be reported to the credit bureaus. There are no laws that say that the credit bureaus have to even exist. There are no laws that say a credit item had to stay on a credit report for a specific period of time. These thoughts might be a bit shocking to most consumers. We have all been trained and taught that credit items will report negatively or positively and stay on our credit for so many years. The truth of the matter is that this is just this way the system works. The credit bureaus exist because the creditors want them to exist. As a result of the lack of laws and regulations regarding these reporting matters, accurate and truthful information can easily be removed from the credit report legally. For instance all information on your report must be verifiable, within the allowable reporting periods, and must be reported with 100% accuracy.

According to Jeremy Blay, Operations Manager at Buildmycredit.com, “if you take a look at the Fair Credit Reporting Act section 609 (c)(2) it clearly says that a consumer reporting agency is not required to remove accurate derogatory information from a consumer’s file unless the information is outdated under section 605 or cannot be verified.” The statute says that “is not required to be removed,” it does not say that it CANNOT be removed. The government only places limits on how long items can remain on report. The bottom line is that anything can be removed if you have the right reasons or can provide the right legal solution to get the rule to work in your favor.

Searching the Internet may produce conflicting details about removing accurate information from a credit bureau, according to many industry experts and the credit consultants at BuildMyCredit.com. This could be mainly due the fact the Federal Trade Commission (FTC) and the credit bureaus spend big money trying to convince consumers otherwise. Why you ask? Sound a bit farfetched, kind of like the movie Mel Gibson starred in called Conspiracy Theory. The reality is unfortunately this is a very real situation. Think about the facts that support details regarding these processes and things start to seem a little more real. The creditors want you to be late and showing negative items on your reports, bottom line they earn more money by charging higher rates. The credit bureaus earn more money when the consumers are concerned they naturally and actively monitor their credit report. The more monitoring, the more credit reports that need to be run, get the picture? At the end of the day, credit bureaus are nothing more than simply large data warehouses that only make money when people want to look at their data. The FTC acts as big brother ensuring consumers and creditors follow protocol, and help to limit the amount of fraudulent activities between all entities. The bureaus have convinced consumers that they are powerless, and operate under the assumption that people will not bother to dispute their negative items which in turns keeps their scores lower, and the consumers interest rates higher, making guess who more money? The creditors and in return the bureau’s themselves.

The bottom line is that there is a good chance that many negative items can be removed if you understand the process associated with doing so. “Naturally, there are no guarantees…” says Justin Weller at BuildMyCredit.com, “I’ve seen several items removed from people’s credit, while helping repair credit. Removing negative items doesn’t negate the consumer’s responsibility to pay back the debt to the creditor.” The average consumer is at a clear disadvantage due to the lack of readily available information and resources needed to fix their own credit. It takes time and sometimes it takes money to work with an attorney to ensure the consumer’s rights are maintained. BuildMyCredit.com was founded on the principals of empowering consumers to take back their rights to have a report that is fair and valid. The main goal at BuildMyCredit.com is to help consumers restore their credit. Although an average consumer can work on their own credit report themselves, it is not recommended as sometimes you can do more harm than good.

For more information about how BuildMyCredit.com can help you log on to http://www.buildmycredit.com or call today for a free credit repair consultation at 1-855-4BUILDMYCREDIT or 1-855-428-4536.

BuildMyCredit, Inc.
23152 Verdugo Drive, Suite 160
Laguna Hills, CA 92653
(949) 916-5331
marketing(at)buildmycredit(dot)com

###

©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.