Today everything works on credit. Anywhere you go and do any financial transactions such as borrowing money, lending money or other financial transaction. For example, if you want to rent an apartment you need to have good credit or you'll pay more.
The question arises how does a lender or landlord check if your credit is good.
For this purpose, the credit department issues a credit report on the basis of your transactions, your payments as well as late payments and your financial work.
Many times, we don't have a good credit score due to many factors that we don't know. Increasing your credit score is commonly known as credit repair. Credit repair involves fixing your bad credit in any way and to shape it to make it good.
When companies talk about credit repair then it means the process of disputing errors on the credit report.
For disputing the errors from your credit score, you can directly move to credit bureaus on your own. This process is free of cost. In your formal dispute, you have to provide a detailed explanation of the error and include any supporting documentation and papers with it.
A Federal Trade Commission (FTC) study found that 1 out of 5 people have an error on at least one of their credit reports. You can check your credit reports for errors by getting free copies from a few websites that offer it free. Sometimes you may have to pay for it.
At times, people don't have time as well as don't know how to handle all this. For this, they can take help from credit repair companies or professionals that can help them to correct their credit reports and repair it.