Questions & Answers

Q – What are your fees for helping me with credit correction?

A – We are 100% free. Our goal as a non-profit is to help everyone successfully dispute any error on their credit report. If our dispute is unsuccessful, we will call upon our network of attorneys and legal action will be taken. Again, there is no out of pocket cost for you.


Q – How long does it normally take to have the credit agencies correct an error(s)?

A – It will typically take 30-45 days to have your error corrected. However, the credit reporting agencies are many times unresponsive in correcting these errors and often require a re-dispute or litigation.


Q – What separates Credit KODA from Credit Repair Companies? 

A – Aside from being absolutely free, the main difference is we take the next step to ensure your error is corrected by filing a lawsuit.  Few if any credit repair companies are backed by a law firm like Credit KODA. Again, this legal support is all at zero cost to you and may also provide you with some reward money for your time and effort. 


Q – What is the relationship between Credit KODA and their network of attorneys?

A – Credit KODA have formed a strategic alliance with a network of attorneys to assist anyone dealing with errors on their credit report. Credit KODA exists to help people dispute any incorrect information and if the dispute is not resolved, they will turn to their attorney network to take legal action against the Credit Reporting Agencies and any creditors who are at fault for not properly reporting your credit history.


Q – How do I know what is in my credit report?

A – We encourage you to regularly check your credit reports. You can do so once a year at no cost by contacting www.annualcreditreport.com or you can call 877-322-8228 to request copies to be mailed to you. 


Q – What are most common errors found on people’s credit reports, and how best to fix them?

A – The 10 most common errors we see on credit reports are:

— A balance showing due on a settled or paid account.

— A balance shown after the creditor discharged the debt with a 1099-C

— Duplicate accounts being shown 

— The debt buyer and original creditor are both reporting a balance due

— An unknown account on your report (ID theft)

— A short sale being listed as a foreclosure 

— A debt that was discharged in a bankruptcy still reporting a balance

— Negative account still being reported after 7 years

— Personal information mixed up with that of someone else 

— The authorized user report shows all user activity, not just authorized users


Q – What is the easiest way to obtain a copy of my credit report?  

A – The easiest way to obtain all three of your credit reports is to visit www.annualcreditreport.com where you can download a copy from each of the three credit bureaus for free. We recommend saving these reports in PDF Format and then saving to your computer in case you need to reference them in the future. In some instances, people can be locked out from obtaining this information. If this happens call 877-322-8228 and request that a copy be mailed to you.


Q – What is considered a “good” and a “bad” credit score?

A – Your credit score can range from 300 to 850. 

300-579: Poor

580-669: Fair

670-739: Good

740-799: Very Good

800-850: Excellent


Q – What are the best ways to improve my poor credit score?

A – Always be sure to make your payments on time, and never miss one. Regularly check your credit reports to be sure all information is being reported correctly. Keep your credit card balances low and think before you purchase something on credit.


Q – What are the three main Credit Reporting Agencies and how do they compute credit scores?

A – The three main credit reporting agencies are TransUnion, Equifax, and Experian. Each credit reporting agency has their own model for determining your credit score. They consider the amount of debt owed, the length of an individual’s credit history, new credit, and consider a person’s mix of credit cards, retail accounts, installment loans, finance company accounts and mortgage accounts. 


Q – What if my identity has been stolen, will this affect my otherwise good credit?

A – If you believe your identity has been stolen it very well could negatively impact your credit score. Contact us immediately so we can work to have any fraudulent accounts removed from your credit reports, as well as any attempts to open new accounts in your name. 


Q – How long will a bankruptcy filing stay on my credit report? 

A – If you have filed for bankruptcy in the past you can expect the credit reporting agencies to list this on your credit report for 7 to 10 years. If you filed Chapter 7 it will be listed on your credit report for 10 years, and if you filed Chapter 13 it will appear for 7 years. Please understand that if you started the bankruptcy process but never completed it, a bankruptcy mark will still appear on your credit report for the same duration of time as mentioned. However, instead of the motion being filed it will be noted as dismissed. 


Q – What is the Fair Credit Reporting Act and how does it protect me?

A – Fair Credit Reporting Act or FCRA is a consumer protection law that helps to ensure the accuracy, fairness, and privacy of the information in a consumer’s credit bureau files. The purpose of this federal law is to regulate the way credit agencies can collect, access, and share the information in your personal credit reports. 


Q – The debt collection agency will not verify my debt. Is this a FCRA violation? 

A – When a debt collection agency takes on your past due account, they must notify you via mail or telephone. From the time of the notification you then have 30 days to request verification of the debt. If you request verification, we recommend this be done with a letter sent via certified mail. If you realize your debt has been sent to a collection agency and it has been past the 30 days from when they first inherited the account, they no longer are obligated to verify the debt and are no longer in any violation of the FCRA for not responding to your request. 


Q – Are there any allowances for late or missed payment due to financial hardships from COVID-19?

A – Many creditors are offering forbearance during these uncertain financial times. Forbearance will grant you permission to postpone payments for a certain amount of time. If you do file forbearance, please be sure to ask your creditor before you plan to skip the payment. Also, be aware of the terms of the forbearance as in many instances creditors will expect a lump sum at the end of the forbearance for the missed months. Sometimes this can compound the problem rather than help.


Q – Why was Credit KODA formed? 

A- It is our mission to fight for the little guy and right the wrongs for people that are unable to do it themselves. Credit KODA was formed as a non-profit to show separation from the rotten credit repair industry. The fact is fixing errors is not hard if you know what you’re doing, and we believe everyone should have free access to ensure their credit report is correct. Our goal is to hold Credit Reporting Agencies responsible for not correcting errors when that should be corrected. Credit KODA in alliance with our network of attorneys can do just that.

Request a Free Credit Correction Consultation.