There are many instances when an individual’s credit history may be damaged for no fault of his. The negative report could be due to an illness or accident. At times a clerical error may occur at the credit reporting agency. A person with poor credit finds it difficult to get loans, may have to pay a higher interest rate and could also affect their ability to find a suitable job.
Today credit repair is feasible by referencing the Fair Credit Reporting Act and improving your credit score. The procedures to be followed to repair credit can take time. However, there are several specialized agencies which can improve your credit score for a fee, which is a fraction of the amount you will save in the long term.
The method used to fix credit by credit reporting agencies is to first procure credit reports and for each negative item in the credit report, the credit reporting agency is asked to furnish supporting evidence . If the credit reporting agency cannot provide any supporting evidence, the negative item has to be removed from the credit history. This results in the improvement of the credit score of the person over a period of time.