Create Your Credit Recovery Road Map
No two credit reports or clients are the same. Each client has different needs, desires and credit reports. We first need to find out what yours are and what your credit report looks like. In order to accomplish this, we will spend the time to review each and every item on your credit report and determine what can be done to improve your credit. You would be shocked at the amount of errors contained on your credit report. In fact, an 8 year study conducted the Federal Trade Commission (FTC) found that 1 in 5 credit reports have easily noticeable errors on their credit report and many of those are causing the credit scores to be lower than they should be. This study isn’t even taking into account minor errors such as incorrect account balances, closed accounts shown as open, open foreclosures and bankruptcy that have been closed and much more. This study estimates there are some 40 million people walking around paying higher interest rates than they should be paying, being denied loans they are otherwise eligible for and maybe even been denied employment opportunities they should have received. Although this figure is staggering, we think that number is even much higher based on our own work in this field.
By sitting down with one of our paralegals and taking the time to review your entire report item by item we can separate the fact from the fiction. We can use the information gained from this to create your personalized road map that we will guide you down to improve your score. This process usually takes no more than 30 minutes, it’s free and even if you don’t hire ACS to improve your credit, going through this process will be invaluable and well worth the investment of time.
Going Down Your Road to Credit Recovery
After completing your personal road map to credit recovery, ACS will begin the process of sending out dispute letters to correct or eliminate items on your report. Many of these dispute letters will be responded to by the credit bureaus by fixing or removing the item(s). This process causes your score to increase. In some instances, the response may ask for additional information and we will collect and provide that information in what is called a supplemental response. As a result of the supplemental response, a decision will usually be rendered by the bureau on what it intends to do to correct the information.
In an ideal world, the procedure described above would work with every credit report, credit account and bureau, but as you may already know we aren’t operating in an ideal world. In fact, the credit bureaus do not operate by a uniform protocol every time and in fact are not compliant with what the Fair Credit Reporting Act (FCRA) requires it do when a consumer does dispute items on their credit report. ACS has customized client tracking software that will flag these occurrences, automatically email you to let you know about it and give you the option of speaking with an FCRA attorney with our law firm about taking further action. This attorney consultation cost you no money, is part of our credit recovery service and if it is determined the best course of action is to move forward there is no fee unless the law firm recovers money for you. In other words, the fee agreement with the law firm is contingent on you getting money and getting the disputed item on your report fixed or removed. If the law firm fails to get you money, you pay nothing a period.
Once you reach the end of your road to credit recovery with ACS, every inaccurate item will have been either fixed or removed one way or the other. Some are fixed or removed quickly while others may take more time. At the end of the day, you need to be able to look at each and every item on your credit report and know everything is correct, accurate and actually yours. Once this has been achieved, your credit score will have reached its maximum level as a result of the dispute process and your road to recovery complete.