FAQ

Can you trust credit repair companies?
What is the Fair Credit Reporting Act?
What is a Credit Score?
How will my credit scores be improved?
What are the different types of credit scores?
Does paying off past-due accounts offset their negative status?
How long does it take?
Is Credit Repair Legal?
Is there anything that cannot be removed from a credit report?
How do you restore bad credit?
Will deleted items reappear?
If I keep paying my bills, will that raise my credit score?
Can I restore my own credit?

Can you trust credit repair companies?

Like any industry anywhere, there are good companies, average companies, and really poor companies. You really need to do your homework when it comes to searching for the credit repair company that is best for you and your needs.

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What is the Fair Credit Reporting Act?

In the early 1970's, Congress passed the Fair Credit Reporting Act
to modulate the relationship between consumers, creditors and the credit bureaus. This law gives you various rights as to what information of yours can be reported and how your information can be reported. One of the most important provisions of the law for the consumer, allows you to challenge inaccurate, unused or misleading items as they appear on your credit report.

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What is a Credit Score?

A credit score is a number generated by a mathematical formula that is meant to predict credit worthiness. The most common of the credit score standards is the FICO score by Fair Isaac. The FICO score ranges from 350-850 and is intended as a predictor of whether or not you will be 90 days late on a loan obligation. Fair Isaac uses thousands of credit reports to calibrate the FICO scoring model and is very secretive of the exact formula.

How will my credit scores be improved?

Attractive Credit will work on disputing untimely, misleading, inaccurate information from your payment history that are not being reported in full compliance with credit law. We will also show you how to maximize your debt ratio score, even if paying off credit cards is not an option. According to the Government Accountability Office, 80-90% of credit reports have serious errors on them, and this does not even include other errors that affect your credit.

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What are the different types of credit scores?

There are generally two types of scores, generic bureau-based scores and custom scores. Among the bureau-based scores, the most widely used score in the financial service industry is the FICO score, generated by the Fair-Isaac Company. Each credit bureau can also generate its own credit score. The bureau-based credit scores draw on statistics from a large number of consumers across a variety of accounts. Custom scores are generated by individual lenders who rely on credit bureaus and other information, such as account history, from their own portfolios. Scores are not just used to rate the credit worthiness of consumers. Lenders also use scores to predict consumer response to offers sent in the mail.

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Does paying off past-due accounts offset their negative status?

No. Many people presume that if they pay off an account, the previous negative information is automatically deleted from their credit reports. What you don't know is, once an account is late, sent to collections or charged off, the negative information is reported until the accepted amount of time is up. If you pay off an account or become current, your credit is better than if you never paid it at all, but the previous negative information remains the same.

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How long does it take?

Most people will see progress within the first 90 days. Unquestionably, everyone's credit situation is different. You must understand that each individual file is unique and the necessary amount of work it takes for a specific client to obtain their goals may differ from the work it takes for the next client. We work with creditors, collection agencies, government agencies, and reporting agencies all over the country, and most of our time is spent waiting for the credit bureaus to respond to our inquiries, so we get those disputes to the bureaus as fast as possible. The most successful results are always accomplished from the clients that completely follow all of our instructions and procedures.

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Is Credit Repair Legal?

Yes. There is a specific body of legislation, the Credit Repair Organizations Act (CROA) that summarizes how credit repair companies may legally operate. This Federal regulation is proof that the industry as a whole is not a "scam." Of course, in every industry there have been and always will be some less-than-honest companies, but taking the time to find the right partner with a legitimate, professional company can provide immeasurable benefits. You are given certain rights under the Fair Credit Reporting Act (FCRA), including the right to question inaccurate, obsolete and deceiving items appearing on your credit reports. We offer our services and proficiency to help you declare these rights.

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Is there anything that cannot be removed from a credit report?

No, we may dispute any items that you feel should be disputed, and the credit bureaus must verify these items. The only exception to this is that they do not have to verify any inquiries on your report. However, if you feel that an inquiry should not be reported, then the company that allegedly asked for your credit report can be contacted and that inquiry may be disputed with them.

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How do you restore bad credit?

Attractive Credit will help you by using your rights under the 5 laws of credit repair. By law, the credit bureaus have 30 days to investigate items on your credit report that are disputed. If they cannot validate the information they are reporting within this time period, then they must revise or delete the information. We also reciprocate with creditors who also must verify information they are reporting, or cease from reporting inaccurate information. Through continuous communication with both the creditors and credit bureaus, we can help you restore your credit situation.

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Will deleted items reappear?

The Fair Credit Reporting Act makes it very difficult for the credit bureaus to report negative items more than once. Does it happen from time to time? Yes, the credit bureaus make mistakes. We will simply re-challenge this item with the magnitude of the previous deletion in our favor.

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If I keep paying my bills, will that raise my credit score?

Yes. Paying your bills on time will do nothing but help your credit score. Good payment histories will help you buy a home, refinance, or qualify for new credit.

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Can I restore my own credit?

Yes, you can. With the right knowledge, anyone can repair their own credit. Attractive Credit even offers a $37 step by step video course on how to do it yourself. The system contains everything there is to know about improving fico scores. Nevertheless, it is time consuming, will require patience, dedication and certain tactics and strategies. If you are a busy person, the do it yourself credit repair course would most likely not benefit you. In this case, Attractive Credit can provide the credit repair services for you. I know for a fact that we probably know more about credit repair than you would, just as you are probably better at what you do than we would be, and we can definitely help you avoid making the common mistakes most people make. We do it every day and we know all the tricks of the trade.

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