{"id":72550,"date":"2012-09-25T11:00:09","date_gmt":"2012-09-25T17:00:09","guid":{"rendered":"http:\/\/www.creditrepair.com\/blog\/?p=72550"},"modified":"2015-10-22T11:45:05","modified_gmt":"2015-10-22T17:45:05","slug":"5-myths-of-credit-repair","status":"publish","type":"post","link":"https:\/\/www.creditrepair.com\/blog\/credit-repair\/5-myths-of-credit-repair\/","title":{"rendered":"5 Myths of Credit Repair"},"content":{"rendered":"

\"5<\/a><\/p>\n

5 Myths of Credit Repair<\/h1>\n

Myth 1: The nature of credit bureaus<\/h2>\n

Credit bureaus are official, quasi-governmental agencies, and American institutions that work alongside your creditors to keep every adult citizen towing the financial line.<\/p>\n

Fact: They are for-profit businesses and have no government affiliation.<\/p>\n

Myth 2: Your credit report is reviewed carefully<\/h2>\n

Fact: Required by federal law to contain information that is fairly reported, 100% accurate, and fully substantiated upon consumer request.<\/p>\n

Myth 3: Including a credit statement alongside the baddies on your credit is helpful<\/h2>\n

Fact: Statement may be viewed as an admission of guilt. Loans are approved or denied based on numbers – the FICO score, and not words. Statements may be viewed as excuses.<\/p>\n

Myth 4: Negative items must remain for 7 years<\/h2>\n

Fact: In the United States, credit reporting is entirely voluntary, with no enforceable minimum time period. If creditors cannot (or would rather not) document FAIR, ACCURATE and SUBSTANTIATED credit reporting, then their credit report data must be removed.<\/p>\n

Myth 5: Seeking help in repairing credit is unlawful<\/h2>\n

Fact: Attorney Generals (AGs) have authority to file a lawsuit under the Fair Credit Reporting Act.<\/p>\n","protected":false},"excerpt":{"rendered":"

5 Myths of Credit Repair Myth 1: The nature of credit bureaus Credit bureaus are official, quasi-governmental agencies, and American institutions that work alongside your creditors to keep every adult citizen towing the financial line. Fact: They are for-profit businesses and have no government affiliation. 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