Credit report repair is important if an individual has missed or made late payments and intends to apply for mortgage refinance, a loan or credit cards in the future. Lenders report to the three leading credit reference agencies (Experian, Equifax and TransUnion) each month and their feedback can be the difference between a high and a low credit score, not to mention acceptance and rejection.

How Credit Report Repair Works

Fortunately, a bad credit rating needn't be a life sentence. It is designed to reflect an individual's credit worthiness in the short to medium term, not be a bar to ever qualifying for credit. Even filing for chapter 7 bankruptcy will only show on a report for a period of 10 years. Complying with the T&C's of credit agreements in the future could mean that a consumer can borrow money in as little as two years.