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• Repairing Your Credit Score
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• Establish your First Credit
• Credit Score Calculated
• Credit Mistakes – Avoid Making them
• What Affects My Credit Score?
• Rights Regarding Credit Repair

Your Rights Regarding Credit Repair

Once you owe money and got reported to the three agencies, you should start paying back the dues and start on with credit repair. Here are several not so well-known rights you have when dealing with credit repair companies, creditors and reporting services.

• You are entitled to a free report when you are denied for a credit application, insurance, postpaid cell phone or employment, if they did a background check on you. This should help you with your future credit repair actions. The report is yours for free, you just have to ask for it within sixty days after receiving the denial notice.
• You can get a free credit report every year, provided by the Annual Credit Report government service. Even though the information is pulled from the three reporting agencies, and each of these offer per-request credit reports, they won’t be able to offer it to you for free. The free report is only obtainable from the above mentioned service.
• If your report is inaccurate, or you have been subject to an identity theft, you are entitled for a free report you can further use in your credit repair process.
• Disputing mistakes in your report is free. However, if you hire a credit repair agency to help you build up your score, they will charge you for the consultancy service—including writing the dispute letter.
• Even if you have been able to obtain loans in the past, considering a credit repair solution can help you save fortunes in the long run. Statistics have shown that once you get out of the “gray” area and raise your score above 720 you can save up to a few hundred dollars per month on a house mortgage.
• When you have reported an inaccurate piece of information to your (alleged) creditor, he has to forward your note to the reporting agencies and, once proved you were right, he may not report the same issue again. Simple communication with your creditors can work wonders for your credit repair endeavors.
• Collection agencies may not call your office, call you at home before 8 AM or after 9 PM or contact your neighbors, friends or family attempting to collect the debt.

If anyone breaks your legal rights, make sure you document everything and file a complaint to the Federal Trade Commission.