Is Credit Repair Illegal?

Credit repair is LEGAL. You may have heard some mention that credit repair is actually illegal, but the fact of the matter is there is nothing illegal about credit repair and disputing inaccurate information about your credit file. The Fair Credit Reporting Act (FCRA) actually encourages people to dispute inaccurate information

So what is Credit Monitoring?

Credit monitoring is the automated process of keeping an eye on your credit. Credit monitoring helps protect you against identity theft and monitors any changes and/or inquiries made to your credit file by alerting you within approximately 24 hours of any major changes made to your credit file.

Can I get a Copy of My Credit Report at Any Time?

By law, you're entitled to one free credit report annually from the credit bureaus. This can be accessed at www.annualcreditreport.com - You can also request a free copy of your credit report if you were denied credit; however, you can only request a copy from the specific credit bureau that supplied the credit report to the creditor who denied you.

Will Requesting a Credit Report Affect My Credit?

No. Requesting a credit report will NOT affect your credit. You have the right to look at your credit report without it affecting your credit or score. When you request your credit report it's called a "consumer pull" and has no effect on your credit. The only time when requesting a credit report can affect your credit is when you ask a possible creditor to inquire about your credit. This is because it implies that you're possibly opening a new line of credit.

What can be taken off my credit report?

Any inaccurate, unverifiable accounts such as inquiries, old addresses, additional names on the report (you must have at least one name on your report), unpaid collections, charge-offs, repossessions, bankruptcies, medical bills, credit card debt, and divorce debts

What is a credit score?

A credit score is a number summarizing your credit risk, based on your credit data. A credit score helps lenders evaluate your credit profile and influences the credit that's available to you, including loan and credit card approvals, interest rates, credit limits and more

What are FICO scores?

FICO® Scores are the most widely used credit scores. Each FICO® Score is a three-digit number calculated from the data on your credit reports at the three major credit bureaus —Experian, TransUnion and Equifax. Your FICO® Scores predict how likely you are to pay back a credit obligation as agreed. Lenders use FICO® Scores to help them quickly, consistently and objectively evaluate potential borrowers' credit risk.

Can I repair my own credit?

You sure can. You just need to contact the bureaus and your creditors to address any errors on your credit. That being said, it has been expressed that the process can be time consuming and confusing. Working with a reputable credit repair company like Level-Up can help you remove these items from your reports quickly and efficiently. However, you can also select our “DIY” SERVICE PLAN, that includes a detailed step by step E-Book by signing up.

How long does credit repair take?

Honestly, we can’t say. There’s no way to predict in advance how long it will take to repair your credit, as every credit situation is different. The average consumer typically stays with us for six months. After six months of service your terms may be “reevaluated based on your needs. However, we will work diligently and efficiently to get items removed in an expeditious manner.

*YOUR RESULTS WILL VARY & ARE NOT GUARANTEED

What are the three Credit Bureaus?

The three main credit bureaus are Equifax, Experian and TransUnion. However, there are many more bureaus, these are just the main three. When lenders want to see your credit report, they will request it from one or more of these reporting agencies.

Are credit scores and credit reports the same thing?

No, your credit score is just one piece of your credit report. Your credit report also includes identifying information, trade lines, credit history, credit inquiries, public records, collections and other late payment information. 

What is a VantageScore?

VantageScore is a credit score developed jointly by Experian, Equifax and TransUnion. This score uses the same formula across all three credit reporting agencies, resulting in a more accurate and consistent picture of your credit history, behavior, and spending trends.

Do inquires for “PreApproved” offers affect a credit score?

No. Only applications for credit initiated by the consumer will affect your score. Inquiries into your credit for account review purposes as well as preapproved offers of credit have No effect on credit scores.

If my spouse had bad credit before we were married, will that affect a credit score?

If you hold a joint credit account, have cosigned a loan or have authorized use of another person's credit, these items could affect a score if they appear on your credit report. It's important that joint account holders or authorized users understand that their credit behavior does affect the other joint account holder or main account holder.

A credit account held solely in the name of your spouse, your child or any other family member cannot impact your credit score. However, in community-property states, all debt acquired during a marriage is considered a joint debt, regardless if the account is joint or in the name of an individual spouse

Can anyone check my credit rating or do they need a written authorization?

Most institutions or business acquaintances will get your written authorization to retrieve your credit file. However, the Fair Credit Reporting Act allows anyone to obtain or pull a credit report on anyone else, as long as a "legitimate business need" for the credit information exists. *NOTE: Although a "legitimate business need" is vague, someone could retrieve a credit report on your client and in defense to their action could say that they were thinking of doing business with your client and needed the information. Your client’s privacy, in our opinion, could be violated by the vagueness of such an otherwise fine legislation..

I received my credit reports from two different credit bureaus, and they had different information. Why?

Keep in mind that members or subscribers of the credit bureau transmit payment history information to them for your credit report. If that financial institution, credit card company or lender is not a member of that credit-reporting agency, information concerning that company might not show in your credit file.

Why should I pay a company to repair my bad credit if everything is going to reappear after a few months?

If you use a reliable credit repair service, everything WON’T reappear after a few months – if you have been the victim of identity theft, all of the wrong information should be removed. Most reputable bad credit repair services correct your entire credit file and stick with it until most issues are resolved and cleared. Your bad credit might have a long and deep trail, so it could take time to completely clear your credit file of all issues.

Can I cancel the agreement after signing?

Yes, you have up to (3) days after you sign to cancel the agreement, without penalty. You also will have a 90 day Money Back Guarantee to end the agreement if we are not getting some results. We ask that you all at least allow 90 business days to see results. *Note - Do to Covid-19 limitations, the Credit Bureaus have extended their response time from 30 days to 45 days.

What is a Good Score?

The higher your credit score, the better; however, there is no real industry standard. Credit scores range from 350-850. Each creditor/lender judges your credit score differently and takes other factors into consideration when determining your eligibility and/or risk. Typically, anything above 690 is considered a great score. Below a 620 is frequently referred to as “sub-prime.”