Creditors have been known to reject an application from people who have been through credit counseling. Credit Repair and Debt Consolidation Credit counseling differs from credit repair and debt consolidation, which are other approaches debtors can take. Debt consolidation involves a loan and usually requires some type of collateral, such as home equity. Repairing credit is really about challenging any errors, and even some items that are perfectly valid, in one's credit history. One technique used in credit repair is challenging every negative piece of information on a credit report, even the ones that are undeniable.
Creditors have a limit on the amount of time they have to respond to challenges.
If they can't get to a challenge in a timely manner, the bad report is erased. If these pitches sound too good to be true, they are. Click here to learn how. Now's the perfect time to refinance. Sponsor Offers Improve your negotiating power.