Fast Approval Loans
How do I repair my credit fast for immediate loan approval?
I was informed once that there is a way to repair your credit if you pay a certain amount of money in order to get approved for a homeowners loan. Is this true? And how do I find the repair person?
No. This is bogus. “Repairing” your credit is not a fast, overnight thing that can be done by paying a fee to someone. Don’t do it. I have done this sort of thing and it does work, but depending on what the negative items are in your credit report and which credit reporting agency it is it could take up to two years (maybe even longer) and there is no guarantee it will work at all.
The process involves taking advantage of a part of the Fair Credit Reporting Act which says if a customer disputes an item on a credit report the credit reporting agency has 30 days to investigate the claim and verify the accuracy of the item in question. If the agency cannot verify the accuracy within the time period then that item must be removed. The way credit repair works is that disputed items, even if they are legitimate, are constantly disputed using HANDWRITTEN dispute letters (“This is not mine, it does not belong to me, take it off”) that are sent to the credit bureau for each item disputed. The credit bureau then has 30 days, so you must wait for their results. If they verify it and do not take it off, send in another dispute letter the following month. Keep doing this until someone, somewhere along the line, slips up and does not verify the information in time. This method works with legitimate bad items as well as real mistakes. It just takes time, over a period of many months, so a year is not an unreasonable amount of time to expect something like this to take. it is NOT fast, and it is NOT immediate. But it does work if your work at it. You can do this yourself and paying someone a fee will not improve your chances at all. Anyone who says they can instantly repair your credit is just plain lying.
Negative credit items will remain on your credit report for 7 years, and a bankruptcy 10 years. These items will only be removed by the credit bureaus if they are unable to verify the accuracy of the information within 30 days of a dispute.
You need to check with the three major credit bureaus: Experian, Trans Union, and Equifax. You would be sending almost identical dispute letters to all three.