Errors on credit reports are a common problem and can impact many aspects of your life and finances. Most individuals are unsure of how to correct it or have little success attempting to do so on their own. Credit repair organizations provide much needed assistance with correcting credit report errors.
Importance of Correcting Errors
Mistakes on credit reports can affect consumers financially and limit opportunities available to them. Credit scores are used to determine insurance rates and interest rates for credit cards and loans. They can therefore cost a consumer a significant amount of money in higher interest payments, especially when added up over the life of a loan. Low scores can also limit a consumer’s ability to get approved for credit cards, loans, insurance coverage, apartment rentals, and even job opportunities. With the increasing reliance on credit scores by more organizations, the impact of credit report errors will continue to grow.
Assistance with Correcting Credit Report Errors
Most consumers know that you can contact credit bureaus regarding incorrect information that appear on a credit report. However, that single attempt or contacting only the credit bureaus is not always sufficient. Repetitive letters may be required in addition to other actions such as contacting other parties involved. The approach may vary depending on a consumer’s situation and some may be more successful than others. Most consumers need some level of assistance with correcting credit report errors and navigating this entire process.
Services Offered by Credit Repair Organizations
Credit repair organizations, such as Financial Investments & Trust, provide assistance with correcting credit report errors. We assist consumers with analyzing credit reports and following up with credit bureaus, debt collectors, or medical billing services. We evaluate each customer’s unique situation, highlight issues harming credit worthiness, and formulate a strategy to address them. Financial Investments & Trust will prepare all necessary investigatory materials on your behalf and forward all documentation as your liaison. Contact us for further information on our services.