There has been a time when all of us have been through a financial despair at some point in our lives. The experience would have left a bitter taste in our mouth. The result would have been a damaged credit score. This damaged credit score has resulted in every aspect of our lives. It makes an appearance in our decision making to obtain anything on credit: be it the hire purchase scheme on the washing machine or the refrigerator or the cooker or even the microwave. Applying for a credit card will also make all the difference between getting and losing one depending on the Credit Rating.
There are companies like Fowler and Fowler that help individuals in “cleaning “or “fixing” their credit record even if they have been denied credit. This is a Credit Repair Company that will attempt to help you clean up your credit record by offering you expert advice. Sometimes the experts from the Credit Repair Company will use your right to dispute the accuracy of the credit bureau’s file. The firms will either do it on your behalf or advise you to challenge virtually everything that is there on the file whether it is accurate or not. When the Credit Repair Company, for a timely reply initiates this process with the Credit Bureau it becomes very time consuming. The Credit Bureau will be unable to verify the information within the given time and hence they remove it from the file until they can re-investigate it.
If the information is found to be correct then it is re-entered into the file. Either the records cannot be taken off by the Credit Repair Company or by the individual until the 5-10 year period as allowed by the law has expired. There is always another way to do the honors: Credit File Segregation. Here the Credit Repair Company may advise the individual to create an entirely new record. This is usually done by obtaining the Employer Identification Number, from the company, normally used by the companies to report any financial information to the Internal Revenue Service. This is an illegal offense-according o the Internal Revenue Service. Once the identity is changed then the current identity with no match with the old one.
Some file segregation companies advise you to use a new mailing address and a phone number on credit applications as well. This will make sure that your identities don’t match each other. There are laws governing the credit repair services to make sure that they don’t misrepresent their advertised services. They will not be able to charge you until they have completely performed the services as promised to you and within six months.
I would like to thank you at Fowler and Fowler for your services. My credit score is now above 700. I was able to get a car financed for only 6.9% and I have been approved for a new mortgage at only 5%. When I first decided to get help with my credit history I wasn't sure if it would be worth it. I would now freely recommend your services to anyone who has old credit history that is causing them problems.
C.L. of Tulsa. OK
Just a quick note to say thank you and you're doing a great job, please keep up the good work!! My FICO score has gone up to 625 as of today---from the low 500's in October, that's wonderful. Merry Christmas and Happy New Year.
L. R. of Naperville, IL