Legal Credit Repair.

Credit Repair is legal. Can you really improve your credit score? There are a number of federal and local laws that govern the reporting of consumer credit information. Each of these laws offer provisions for the consumer to challenge information that is reported by the credit reporting agencies that is erroneous or just reported wrong. So first we must know that credit repair is legal.

Are Credit Repair Companies Legitimate?

In the past many credit restoration companies where either out right scams, multi level marketing schemes, pyramid companies or just ma and pa shops that would take advantage of the vulnerable consumers. Today there are laws that protect the consumers against such companies. The Federal Trade Commission as well as state agencies monitor these companies and are tasked to enforce the applicable laws that govern such repair and restoration entities. Also the legitimate companies thought it important to monitor themselves so the formed trade associations like many other industries to set higher standards of protection and service for the consumer. These associations set the bar high for companies seeking to be associated with them so they can improve the image of the industry, especially member companies. So with a little due diligence it is easier to find reputable credit improvement companies that do not over charge and under deliver.

Does Legal Credit Repair Work.

Yes it does. There are thousands of people who have their credit improved with the assistance of such companies every month. I could ask you to take my word for it, but who am I to you? This is a testimony of a loan officer who submitted one of his customers to have their credit score improved and a mortgage late payment removed and here are the results:

I referred a borrower over mid July with a score of 598.  Not quite 2 months later, I repulled credit to find his middle score jumped 100 points!!!   And a mortgage 30 day late was taken off.  The loan is going to be subbed tomorrow!  Love it when that happens.  I was honestly just hoping that I could get his score above 620 to do an FHA refi.  After having a conversation with Specialized Credit, we decided to re-pull credit and see what we could do.   After pulling credit, he now has a mid score of 680 and his 30 day mortgage late was no longer there.  Not only could I do a refinance for him, I can now go conventional at a lower rate with no mortgage insurance.  Saving him $768 a month by paying off credit card debt that he is now paying 14% on.  Taking his mortgage rate from 6.625% to 4.875%.  This also gives him 20K cash out.  HUGE deal for him.  He is taking care of almost $15,000 in credit card debt and getting 20K cash out for a lower payment than he is paying now on his mortgage. Thanks Specialized!!! That is a $4K deal in my pipeline!!!

Marty Blackmon
Loan Specialist
Salt Lake City, Utah

See The Benefit.

This is not just to improve a credit score. Credit restoration is all about a financial benefit. In this case the customer lowered their interest rate and saved over $750.00 per month plus put $20,000.00 in cash on top of the savings. Yes being able to improve your credit score is a great feature. To lower your mortgage payment and get cash out as you refinance and consolidate your bills is the benefit that makes it all worth while. If you are a consumer who wants to improve your credit score send me an email at louisj@howtogetthebestcredit.com or leave a comment below. All comments are moderated and we will not publish or share your contact information.

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