Home | Credit Report | Credit Card | Loan | Insurance | Gas & Electricity | Mobile Phone

CREDIT
Credit Report
Credit Score
Credit Monitoring
Improve Credit Rating
Credit Repair
Identity Fraud
Credit Bureaus
Free Credit Report

CREDIT CARD
Choosing A Card
Credit Card Interest
Balance Transfer
Switching Cards
Cash Back Credit Cards
Airline Mileage Credit Cards
Credit Cards For Bad Credit
What To Do When Applying For A Card

LOAN
Mortgage
Remortgage
Debt Consolidation
Personal Loan
Payday Loan
Bad Credit Loan
Secured Loan
Credit Score and Loan Interest Rates

INSURANCE
Car Insurance
Home Insurance
Life Insurance
Medical Insurance
Dental Insurance
Travel Insurance
Bike Insurance
Pet Insurance

TRAVEL
UK Travel Tips
Major Travel Spots
Airports
Airlines
Hotels
Vacation
Package Deals

GAS & ELECTRICITY
How to switch
What to consider
Energy saving Tips

TELEPHONE
How to switch?
Things to consider
How to find the best deal?

BROADBAND INTERNET
Why and how to switch?
Things to consider
VOIP

MOBILE PHONE
How to buy the right mobile phone
How to switch
How to compare mobile phone tariffs

NEWS
Latest Consumer News


Credit Repair

What is credit repair?

Credit repair simply refers to getting your bad credit removed. You may think how this can be done. Everyday you might be reading advertisements in the many British newspapers from companies starting that they can remove your bad credit for you. You might also be getting a lot of advertisement emails regarding the same. You should never trust these companies and treat all advertisements as scam. In fact you can do credit repair by yourself by following the tips mentioned below.


Avoid scams

The first and foremost tip is to avoid any scam regarding advertisements that state that the companies can clean up your credit report by charging a nominal fee from you. The truth is that these companies wont be able to do the job. After you pay hundreds or even thousands of pounds to get a clear credit report, you may find out one day that the companies have simply disappeared taking your money with them. Beware of companies that claim they will get your credit report cleared after you pay them the necessary charges. Beware of companies that do not mention your legal rights to you and also do not provide you with any information on what you can do for yourself. Last but not the least you should be careful of those companies that advise you to dispute all information in your credit report or taken action which is illegal like creating a new credit identity. Chances are that you may fall in trouble with the credit card company or even the law later on.




Charges for providing false information

In the UK you could be charged or prosecuted for email or wire fraud if you use the mail of the telephone for a credit application and then give false information to the company. It is a crime to give false details on your Social Security Number and also your loan and credit information.



Credit Repairing

Let's discuss further on how you can do credit repair. First of all do tell the consumer company in writing what you think is incorrect in your credit report. State all the items of dispute in your letter to the company. Do not forget to enclose a copy of the credit report with the items of dispute circled in red. The consumer reporting companies will investigate the case and then get back to you within 30 days. The consumer reporting company will give you the results in writing after a thorough investigation. You can have a corrected copy of your report sent to your residence. 

Also tell the creditor or other information provider in writing that you dispute an item. Do not forget to attach copies of the documents that verify your claim. However in case the negative information on your report is accurate you have to accept the results and move on. Only passage of a considerable amount of time will assure its removal. Try to be careful in the future and not to repeat the same mistakes that you made in the past. A consumer reporting company can report most accurate negative information for as many as 7 years and any bankruptcy information for 10 years. However there is normally no time limit on reporting negative information like information about criminal convictions, etc.



Conclusion

Hence from the above discussion we conclude that negative credit report can only be removed with the passage of time and paying all your bills promptly and on time in the future, so as not to get any negative reports in the future. Do not ever go for any illegal way or shortcuts for your credit repair as you may fall in further trouble with the companies and also the law. Hence even one chance that you get fro credit repair maybe lost.



 
   



 

Latest News


February 25, 2012
Consumer sentiment edges up to year high

Consumer sentiment edges up to year highArticle from Reuters: NEW YORK | Fri Feb 24, 2012 10:41am EST NEW YORK (Reuters) – Consumer sentiment improved a tad in February to rack up a year high as Americans became more confident about the economy’s resilience, a survey released on Friday showed. The Thomson Reuters/University of Michigan’s [...]

> Read more


APNewsBreak: NY requires life insurance companies to start paying fully on …

APNewsBreak: NY requires life insurance companies to start paying fully on …Article from Washington Post:ALBANY, N.Y. — New York regulators on Friday told insurance companies they must pay out fully when members of the military are killed in action as the standard practice, rather than automatically establishing a kind of checking account that provides interest [...]

> Read more

February 24, 2012
Credit union director urges payday loan rate cap

Credit union director urges payday loan rate capArticle from BBC News:24 February 2012 Last updated at 12:07 ET Martin Treadgold thinks that the UK should have a cap on APR rates like many European countries The director of a West Midlands credit union has called on the government to cap the maximum interest rate levied [...]

> Read more


Bailed-out insurance company AIG posts $20 billion profit on a tax-related …

Bailed-out insurance company AIG posts $ 20 billion profit on a tax-related …Article from Washington Post:NEW YORK — American International Group, the insurance company that was bailed out by the government in 2008, reported a $ 19.8 billion profit in the fourth quarter of last year, nearly all of it due to a tax-related accounting [...]

> Read more

February 23, 2012
Consumer Comfort in US at Almost the Highest in Four Years

Consumer Comfort in US at Almost the Highest in Four YearsArticle from BusinessWeek:February 23, 2012, 12:09 PM EST Initial Jobless Claims in U.S. Hold at Four-Year Low Jobless Claims in U.S. Unexpectedly Fall to Four-Year Low Margins Widen at U.S. Companies as Wages Lag Behind: Economy Trade Deficit in U.S. Climbed in December to Six-Month [...]

> Read more

 

Home : Credit Report : Credit Card : Loan : Insurance : Travel : Utilities
© 2018. UKConsumerWorld.com. All Rights Reserved.