If you’re feeling hopeless because your finances have gotten out of control — you’re not the only one. Millions of Americans are deep in credit card debt and stressed out without any idea of how to find solutions.
The good news is there are a few non-conventional options for negotiating with creditors for lowering payments and removing negative payment history from your credit report. Keep reading to learn how credit report negotiations can help improve your financial life.
Credit Report Negotiations – The Basics
Before seeking credit repair options from credit repair specialists its important to understand how credit report negotiations work. Want to read the Bills.com review of Lexington Law Firm services and their credit report negotiation services?
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The Credit Repair Organizations Act (CROA) is the federal law that regulates what services debt relief agencies and credit repair organizations can provide.
For example, credit repair organizations are prohibited from doing the following:
- Accepting payment for services from consumers until all services are provided.
- Removing accurate information from credit reports.
- Providing services to consumers without having a written contract with the terms and conditions of all services that will be provided for the consumer.
It’s important for consumers seeking debt relief and credit repair services to understand that getting out of debt is the first step to take towards clearing up your credit report.
If you have current unpaid debts when you seek debt relief support services, those past due accounts will continue to show up on your credit report.
Talking to a debt relief expert about what steps to take to get out of debt is one of the best things you can do to start improving your financial situation.
Debt relief experts can educate you on important debt relief concerns including what services are available under the Fair Credit Reporting Act (FCRA) and Current CROA standards.
Steps You Can Take On Your Own
If you’re not ready to seek services from a debt relief agency, there are certain steps you can take on your own towards clearing up your credit file. Start by paying down all of your debts as much as possible before moving on to the next step of contacting credit bureaus to update your credit report.
Once you’re sure you’ve taken all of the right steps to reduce your debt, you can move on to the next step of contacting the credit bureaus. The three primary credit bureaus operating in the United States are Trans Union, Equifax, and Experian.
Each of these credit reporting agencies maintain their own individual reporting standards. They all have their own rating system and credit scoring requirements. Contact each credit bureau by visiting their website to learn more about how to dispute your credit history, request a copy of your credit report, and to request a letter of deletion for outdated or incorrectly reporting items on your credit report.
Credit Report Negotiation – Get Help From The Experts
When do-it-yourself credit report negotiation seems to far out of reach, consider using the services of an expert. Expert credit report negotiation services are provided by companies like the Lexington Law Firm and similar agencies. In the article below, Bills.com provides a review of services provided by Lexington Law Firm. The review includes the basics on how credit repair works according to Lexington Law Firm.
It also includes a wide variety of customer testimonials about the credit report negotiation services they received from Lexington Law Firm. Reading reviews like these before deciding on which debt relief service or credit report negotiation service you’ll use can save you time and money. You’ll save time in the long run by researching each potential company in advance. Learning more about credit report negotiation services is as easy as completing a quick Google search on your computer or mobile phone.