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FAQ - General Credit

Question - The truth about the credit bureaus?

Answer - The credit bureaus are for profit entities and they are not in any way affiliated with the United States government. They make money by selling your information to people looking for that information. They lose money when they are required to investigate items on your credit report. Remember the most important thing about the credit bureaus "They DON'T care if your credit report is correct, they are concerned with their bottom line". Therefore, the bureaus do whatever they can to dismiss and not investigate a dispute record. The bureaus actually resort to scare tactics and intimidation to keep people from filing disputes.

The credit bureaus have declared war against credit repair companies and any organization that sells do-it-yourself instructions on repairing credit. The bureaus' campaign to discredit the repair companies through the media is obvious and blatant. They even go so far as to send anti-credit repair literature to persons they believe are using credit repair services.

You do not have to live with bad credit for the seven to ten years it takes for negative items to be deleted by the credit bureaus. Credit worthiness can usually be restored within 3-12 months, depending upon your individual circumstances. Whatever path you choose to address your credit issues, we can assure you that thousands of individuals like yourself have become credit worthy once again. Credit Mechanics offers our clients the most cost effective way to systematically tackle their personal credit issues. Our experienced team of professionals will tailor our proprietary program specifically to meet the needs of your individual set of circumstances and at an affordable price. Return to FAQ

Question - Should I listen to what the credit bureaus say about credit repair companies?

Answer - I wouldn't pay any attention to the credit bureaus. You must remember that there only goal is to make money they DON'T care if your report is correct. They only care about the profits they make and by disputing items on your credit report they are losing money. Losing money bothers any corporation, so in order to combat this financial burden they resort to scare tactics and propaganda. These scare tactics can be very effective and a majority of people disputing incorrect items on their credit reports fear reprisal so they don't continue disputing records. You have rights under the Fair Credit Reporting Act and the Fair Debt Collection Practices Act. You shouldn't allow the credit bureaus the power to trample on your rights. Return to FAQ

Question - If I delete a negative item, the bureaus can just put it back on my credit report?

Answer - The credit bureaus love to spread this myth throughout the media. Truthfully, the credit bureaus will often temporarily delete a negative listing if they haven't heard from the credit grantor after approximately thirty days. If by chance the creditor verifies the disputed item, say after six weeks, the credit bureau will often reinsert the negative listing on the credit report. Generally, creditors fail to respond and the negative listing is permanently deleted. However, don't be discouraged if the creditor verifies the item, the disputed account may be challenged again and again until it is successfully and permanentaly removed.

If the credit bureau decides to put a deleted item back on your record, the Fair Credit Reporting Act instructs the credit bureaus to inform you before they re-report a negative listing. Sometimes a creditor will verify a deleted negative item. The Fair Credit Reporting Act also makes it more difficult for the credit bureaus to re-report previously deleted items. Due to these restrictions, it is more difficult for the bureaus to put deleted listings back on credit reports. However, on the remote chance that that an item is re-reported, Credit Mechanics will simply challenge the listing again and asks for a permanent deletion. . Return to FAQ

Question - Do I have any rights regarding my credit file and the credit bureaus?

Answer - You have the following rights:

-You have the right to dispute inaccurate information in your credit report by contacting the credit bureaus. The credit bureau may not charge any fee for this service. Any pertinent information and copies of all documents you have concerning an error should be given to the credit bureau. If the credit bureau's reinvestigation does not resolve the dispute to your satisfaction, you may send a brief statement to the credit bureau, to be kept in your file, explaining why you think the record is inaccurate. This is called a consumer statement and it has absolutely no bearing on your credit scores. The credit bureau must include a summary of your statement about the disputed information with any report it issues about you.

-You have a right to obtain a copy of your credit report from the credit bureaus. There is no fee, if you have been turned down for credit, employment, insurance, or a rental dwelling because of information in your credit report within the preceding 60 days. You are also entitled to receive a free copy if you are unemployed and intend to apply for employment in the next 60 days, if you are receiving public welfare assistance, or if you have reason to believe that there is inaccurate information in your credit report resulting from fraud. You may be charged a reasonable fee for all other credit reports.

-You have a right to sue a credit repair organization that violates the Credit Repair Organization Act. This law prohibits deceptive practices by credit repair organizations.

-You have the right to cancel your contract with any credit repair organization for any reason within 3 business days from the date you signed it. Return to FAQ

Question - Aren't the credit bureaus government agencies?

Answer - No they have no affiliation with the government. They are all private for profit entities that make money selling your information to credit providers and other user of credit information. Return to FAQ