Is Credit Restoration Legal?
Absolutely. The Fair Credit Reporting Act allows anyone to dispute inaccurate items on their credit reports. The FCRA (Fair Credit Reporting Act) and the FDCPA (Fair Debts Collections Practices Act) were designed to protect your rights, and initiated to hold creditors and credit agencies legally responsible for all claims they make against you. Any inaccurate, incomplete, outdated or unverifiable accounts must be removed or corrected.
How Long is the process?
Everyone’s credit situation is completely different, so how long it takes for you to achieve your expected results depends on the number of derogatory credit items on your reports, your participation in the credit education training and the level of credit bureau cooperation. KBFG, LLC will do our part by performing a comprehensive evaluation of your credit reports, weekly credit education training, dispute process, debt validation, statue of limitations, credit laws, consumer rights, and one on one coaching. Most of the wait-time is usually spent waiting for the credit bureaus or creditors to respond.
What’s needed to sign up?
Many of our clients have seen an increase of 100 points or more*; however, the actual amount will vary per customer. There are many factors that affect a credit score besides derogatory items. For example, the ability to pay down revolving debt, the type of credit you have, your length of credit history, even the number of inquiries on your credit file. It is especially important that no current accounts fall into a negative status.
To protect you from identity theft, the credit agencies require proof of identity and proof of residence before they will investigate your account. We attach these verification documents to each one of your dispute letters. To get started, send your identification documents to our processing center. A list of accepted documents has been provided below:
- Identity Verification / Social Security Verification (as required by the credit reporting agencies)
- Photocopy of your Social Security card
- Photocopy of your pay stub displaying your full Social Security number
- Photocopy of your W-2
Residence Verification / Address Verification (as required by the credit reporting agencies)
- Clear copy of a current bill (utility, telephone, credit card, etc.) with your complete name and current address
- Clear copy of your driver’s license with current mailing address
How Long Will It Take the Credit Bureaus to respond to disputes?
You will receive updated credit reports from all three credit agencies within 30 to 45 days. At that time, you will see what was deleted, updated or revised. If the credit agency does not respond to your dispute letter, do not be alarmed KBFG, LLC will walk you through step two of the process.