Why I Don’t Need to Hire a Credit Repair Company in Iowa

In today's society, thousands of Americans are suffering from bad credit in Iowa and across the country. This typically occurs from too much debt, late payments, debt settlement, bankruptcy, and foreclosure among other things. Because of poor credit scores and too many companies offering to make your credit better, you might fall victim to an Iowa credit repair scam.

If a credit repair company promises that they can fix your credit, do not fall for their promises. A credit repair company should be forthright and let you know that you can try and repair your own credit. If you would rather not or do not have the time, you can pay a company to dispute inaccurate information on your credit report. The only information that can be disputed is old information over seven years or incorrect information.

The credit repair company should review your credit report with you to verify the old or inaccurate information and should explain the process. They will have to write letters to each of the three credit bureaus asking for the incorrect or old items to be removed from your credit report. The three credit bureaus (Experian, TransUnion, and Equifax) will launch their own investigations into your matter with each particular creditor. The investigation typically takes 30-45 days. After this time, the bureau will either delete or correct the mistakes in your credit report that it cannot verify.

Not all credit repair companies in Iowa are bad. The good companies have been approved by the Iowa attorney general's office, have legitimate contracts, look at your overall picture, provide some type of credit counseling, and their practice follows the Credit Repair Organizations Act.

Remember, you can do everything a credit repair company can do. Being desperate for good credit can leave you open and vulnerable to credit repair scams. The only thing that can really help your credit report is time because items fall off after seven years or ten years for bankruptcy. If you have been taken advantage of and are a victim of credit repair fraud, contact an Iowa consumer fraud attorney at the law firm of Brady & O'Shea today at (319) 866-9277 and speak with a knowledgeable lawyer to find out your legal options.