Frequently Asked Questions

Here are some common FAQs. Please call us if you have other questions - Toll Free at 1-877-782-7839 or at (270) 982-4747

Can I repair my credit report myself?

Yes. You have the legal right to work out your credit disputes with the credit agencies and credit grantors yourself. Given some experience and study, you could do some of what our staff does. It is much like your right as a citizen to represent yourself in court.

Many people, however, choose to ask Credit One to represent them because of the depth of our experience. But, should you wish, you could represent yourself. Another factor to consider is the amount of time and follow-up required to coordinate disputes with all three credit reporting agencies and the creditors appearing on your credit report. With that said, we encourage consumers to dispute their own credit if they have the time and knowledge to do so.

Can I remove a bankruptcy?

There is not one type of negative listing that cannot be removed from a credit report if it is questionable and disputable. While negative items such as bankruptcy or unpaid debts are certainly more difficult to remove from the credit report, this has more to do with the operational systems of the credit bureaus than with the severity of the bad credit item. For example, judgments and tax liens are severely negative listings yet have been considerably easier to remove.

How much will credit repair cost me?

Credit One has created an affordable pricing structure for both an Individual or Family. We accept payments online by credit card or debit card, checking and saving account using one of our easy payment plans. No matter which method you choose, rest assured we will never post unauthorized charges to your credit card. Charges will be posted only on the dates as dictated by your billing cycle, and only in the amount approved by you.

Is credit repair legal?

Although the credit bureaus would like to have you think otherwise, there is absolutely nothing illegal about disputing questionable items on your credit report. In fact, it is your explicit right by law to do so (see Fair Credit Reporting Act).

Moreover, the federal Fair Credit Billing Act affords consumers the right to request extensive information regarding billing and account history. The Truth in Lending Act stipulates conditions for establishing credit accounts. And, finally, the Fair Debt Collection Practices Act allocates specific rights to citizens regarding accounts that have passed into collection status.

Using a variety of strategies, we will advocate for your consumer rights.

Does paying my bills restore my credit?

You would think that would be true. But, again, the credit reporting system just doesn't work that way. When you pay an old debt, the negative credit listing doesn't disappear. Once paid, it may appear on your credit report as a paid delinquency, charge off or collection (whatever the case may be.) That is, you won't get very far paying your debts unless you also work to restore your credit at the same time.

Do I need to pay my bills?

If there are delinquent accounts appearing on your credit reports that have not been paid off, the actual debt behind the listing remains the same even if the account is deleted from your credit report. You may still owe the same money that you validly owed in the first place subject to your state's applicable statute of limitations. If you don't pay the debt, the creditor or a collection agency may re-report the item. So removing the listing without addressing the debt is only a temporary solution. In fact, we will only dispute credit listings that you indicate are inaccurate, unverifiable or misleading. If you feel that a negative credit listing is 100% accurate, timely and verifiable, then you shouldn't dispute it.

How do I get updates on casework?

Credit reports will arrive first at your home and then you will forward photocopies of them to us. So, when we accomplish deletions and improvements, you will see them first on your credit report. Additionally, you are always welcome to call or email and request an update of the progress of your case.

What if deleted items reappear?

On occasion, a negative listing that was recently deleted may eventually be verified by the creditor. The Fair Credit Reporting Act requires that the credit bureau inform you before the re-report a previously deleted listing. The FCRA also makes it more difficult for credit bureaus to re-report listings. Because of these factors, it is fairly rare for listings to come back on once they've been deleted.

If a questionable credit item is re-reported, it is a simple matter to challenge the listing again at a future time to press for permanent deletion.

How much does bad credit cost?

As you consider working with Credit One you would do well to look at the price you are already paying for bad credit. If the cost of the service can produce much greater savings, you would be wise to make the investment. Below are just a few examples of the cost of bad credit.

Credit Cards

Most if not all prime credit cards are entirely out of reach to consumers with bad credit. And the few credit cards that are available to them (known as "sub-prime" cards) typically require extremely high setup fees or recurring monthly fees, offer very low credit lines, often require cash deposits, and in most cases do not even report your positive credit activity to the credit bureaus.

Automobile Financing

Most if not all prime credit cards are entirely out of reach to consumers with bad credit. And the few credit cards that are available to them (known as "sub-prime" cards) typically require extremely high setup fees or recurring monthly fees, offer very low credit lines, often require cash deposits, and in most cases do not even report your positive credit activity to the credit bureaus.

$20,000 car paid over 5 years:
Credit Status Rate Payment Cost of Bad Credit
Perfect 10% $424.94 $0.00
Mildly Damaged 14% $465.37 $4,722.54
Damaged 20% $529.88 $8,593.30

Home Mortgage

Bad credit in auto financing can really hurt, but it is nothing compared to the cost of bad credit when a home is involved. A typical home can cost between $50,000 and $130,000 more in interest if you are buying the home with bad credit.

$100,000 home paid over 30 years:
Credit Status Rate Payment Cost of Bad Credit
Perfect 7% $655.30 $0.00
Mildly Damaged 9% $804.62 $50,155.24
Damaged 12% $1,028.61 $130,791.63