Credit Reports: What is Rapid Rescoring?

There are plenty of so-called professional companies which advertise their abilities to fix credit reports in forty-eight hours for a small (or even sizable) fee, but most of those services are fraudulent. There is really only one type of legitimate credit solution that doesn't take several months to initiate, and that is rapid credit rescoring. Rapid rescoring is performed by about two-hundred companies nationwide, and is onle useful in certain cases.

Rapid rescoring is the act of removing negative aspects of a credit report in a condensced amount of time, usually between forty-eight and seventy-two hours. It is different from the fraudulent services that run amok in our society because they are sanctioned by the three credit bureaus and work exclusively through them. Rapid rescoring is only a viable solution if you meet certain criteria.

First, rapid rescoring companies will not fix something unless it legitimately needs to be fixed. One such instance would be an incidence of identity theft where a fraudulent charge has been made in your name, but the information has not been removed from your credit report. Rapid rescoring could also be a useful tool if you have recently paid off a large loan or line of credit, but the creditor has yet to mark the account paid in full. 

Rapid rescoring usually costs around $50.00 for each item that they fix, which is quite low compared to what they could charge. Further, you must be able to present proof that the information on your credit report is false in order for them to correct it. In some cases, you must obtain the proof from your creditor; in other cases, the rapid rescoring company will contact your credit and obtain it for themselves.