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It has been estimated that as many as 75% of all credit reports have errors and inaccuracies. The FCRA is the Fair Credit Reporting Act and it was enacted back in’79 to allow consumers the occasion to dispute troubles on their credit report and to encourage the fairness, accuracy and privacy of personal information on credit reports. With so many probable errors on credit reports it is likely that at some point you may need to reflect on credit repair as an option to eradicate the incorrect listings on your account.

You can dispute errors on your credit report and the lenders and credit bureaus have a specific quantity of time to validate the authenticity of the information or it must be removed from your account. You can carry out credit repair by submitting the disputes on your own or you can employ the services of a professional credit repair company.

Be alert however, that the Federal Trade Commission states clearly on their website that “No one can legally remove accurate and timely information from a credit report. The law allows you to ask for an investigation of information in your file that you dispute as inaccurate or incomplete”.

This statement seems to be very forthright and it is one reason why credit repair critics try to persuade against you from trying to repair your credit by convincing you that credit repair is futile. Yet, the fact is that you can make major changes to your credit score and your credit report by taking steps to repair your credit.

The FTC quote may seem to be clear but there is actually quite a bit of uncertainty. In fact, up to 75% of all reports contain mistakes and erroneous information. Credit repair companies actually offer a valuable service. You can always take the steps to repair your credit yourself also, but it can be lengthy and maddening and you may not want to attempt such a project if you are like many folks these days and short on time.

Since “accurate and timely” information should not be removed from a credit report, what are the criteria to define “accurate and timely”? Many times miscommunications or mistakes happen between consumers and lenders and something that may be considered “accurate” may not be that at all.

Frequently, there are items that show up on a credit report that are entirely erroneous. Listings showing on your report that belong to someone else, are identical entries, are the consequence of identity theft or have been listed longer than 7 years, are blatantly imprecise and need to be removed from your account. These types of items regularly show up on credit reports.

You have the right to dispute anything on your credit that you reason to be misleading, ambiguous, unverifiable, biased or questionable. Intermittently there may even be issues that the lender believes are accurate but that you were never able to represent yourself from because your side of the story was never told. Lenders don’t always get things right just as consumers also make mistakes. That is one motive why it is so imperative to have the chance to be able to dispute anything on your report that is inaccurate, untimely, misleading, incomplete, ambiguous or questionable either on your own or with the assist of a professional credit repair service.

Repairing your credit may well become necessary at some point. If you need further information about repair my credit report visit http://724Credit.com and don’t forget to sign up for a free credit repair course.