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If you have inaccuracies or challenging listings on your credit report, you may have considered the credit repair option. The Fair Credit Reporting Act or the FCRA was enacted back in’79 to “promote the fairness, accuracy and privacy of personal information on credit reports”. This law also allows consumers to dispute information on their credit reports, which is important because it is anticipated that as many as 75% of all credit reports hold inaccuracies and wrong credit.

You have the right to dispute the errors on your account and if the credit bureaus and lenders cannot authenticate the correctness of the information it must be removed from your record. You can do credit repair on your own or you can also employ a professional service to aid you.

However, it is important to note that the Federal Trade Commission has stated very explicitly “No one can legally remove accurate and timely information from a credit report. The law allows you to ask for an investigation of information in your file that you dispute as inaccurate or incomplete”.

On the surface, this statement seems somewhat simple. This is one motive why the critics of credit repair and credit repair services try to tell you that there is little that you can do about your bad credit and any attempts to repair your credit may be pointless. The reality is that you can do quite a bit when it comes to repairing your credit.

Even thought the FTC statement seems quite upfront, there is quite a bit of indistinctness in the quote when it comes to real credit reports and real situations. Up to 75% of all credit reports are deemed to include mistakes. Since this is the case, credit repair companies really offer a advantageous service. Of course, you can do it yourself and you may want to think about that but it does take time and energy and if you already have a busy life you may not want to begin a major undertaking like that on your own.

And then again, while you are not supposed to be able to eliminate correct and timely information from a credit report, who determines exactly what is “accurate and timely”. Mistakes and miscommunications happen commonly between lenders and consumers. In many instances, something that is considered to be “truthful” may not be absolutely so.

Regularly, there are items that show up on a credit report that are completely incorrect. Listings showing on your report that belong to someone else, are identical entries, are the result of identity theft or have been listed longer than 7 years, are obviously imprecise and need to be removed from your account. These types of items commonly show up on credit reports.

You have the right to dispute anything on your credit that you deem to be misleading, ambiguous, unverifiable, biased or questionable. Occasionally there may even be issues that the lender believes are accurate but that you were never able to stick up for yourself from because your side of the story was never told. Lenders don’t always get things right just as consumers also make mistakes. That is one motive why it is so necessary to have the opportunity to be able to dispute anything on your report that is inaccurate, untimely, misleading, incomplete, ambiguous or questionable either on your own or with the assistance of a proficient credit repair service.

Repairing your credit may become required at some point. If you need further information about credit repair visit http://724Credit.com and don’t forget to sign up for a free credit repair course.

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