Why does credit repair take so long? How long does it take to repair my credit? 6 months? A Year?
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First of all before you begin to send anything to any company you first need to understand what these companies actually do and how they actually work. There are three different credit agencies that their job is to collect Emirate of consumer data and information and put it on a report. These are all privately held company‘s that are completely different from each other although they kind of do the same thing but they have their own specific way on how to do it and you can’t approach them with the same exact strategy otherwise you are for sure going to be disappointed. Now back again what exactly do these financial institutions do they collect consumer data and they keep it on file now why do they do that the reason why they do that is it is because their job to protect the banks to a analyze risk in order to maximize profit and minimize loss. Now here is you with a damaged and maybe compromised Credit report with little to no reason why it was in the first place maybe you got into a car accident maybe you had a health emergency maybe you got a divorce maybe you were just young and irresponsible and now everything is changed the point is they don’t know why and that’s important because we all deserve a second chance especially being an American citizen we have all these beautiful consumer rights that allow us to rectify those past mistakes, which I will illustrate and another video for you. So again these agencies use your data to make profit from you which it is a conflict of their interest to remove negative accounts for you because they’ve already analyzed in made a decision that you are a risk to them which is precisely why your credit score is very low and you still have negative accounts on your report maybe you have hired a credit repair company in the past or maybe you have even followed this exact do it yourself guide from the FTC only to find that your item is simply not coming off because that’s the most likely thing that will happen. So with that being said I think it’s fair to say we have enough information to collect and say that these agencies are definitely not here to help you in this matter and whatever guide they have is not sufficient enough for you to repair your credit nonetheless these agencies are funded by lobbyists i.e. the banks And the government is in by partisan biased and kind of supportive to them So at this point I’m sure we can understand that you need advice from the FTC is unreliable and being at the mercy of the credit agencies by certified mail that’s supposed to take 30 days however you cannot rely on that number because like I said it will take 7 to 10 days for that mail just to be received by the bureaus and if it gets to the right address that’s only the department that receives the mail it’s not the specific person or department that would investigate that document and so understanding the exchange and receiving process of these departments is very important because you would send your dispute will take 7 to 10 days so let’s just say 37 days for it to be received then how long does it take for that dispute to be sent to the correct apartment and then issued back as a formal complaint or investigation to the specific company?
OK here’s where it gets a little concerning to me because they suggest that you provide those same agencies that are protecting those financial institutions to share your personal documents including your identification your home address your private contract or lack of one so they can share it with the creditor.
Well first of all don’t you think that’s a little bit too much to give or invasive to your privacy after all if the creditor did do business with you in the first place shouldn’t they have those documents to begin with?
Be careful with this trick because there are a lot of tricks that the bureaus use in order to just deny your disputes, and right now we’re just talking about the mailing system we’re not talking about the online speeding system that I’m pretty sure enough people know about already considering Experian has their free credit monitoring that they’re giving to the masses of people well disputing things online with Experian is definitely another topic however I will tell you now it’s a lot worse than the mail system
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