The term “credit sweep” is used to describe a process typically called credit repair.
Credit repair companies use this term to make you think difficult things are easier than they are. For example, do you want to fix your credit or have it fixed? One of those implies you do it one of those apply someone else does it.
Do you want to go through a credit repair process or do you want your credit sweep? One of those sounds like a lot of work, time, energy, and money and the other sounds like a click of a button.
A “credit sweep” doesn’t exist. It simply a marketing gimmick designed by someone who wants to imply credit repair is easier than it is.
I should clarify that credit sweeps do not exist legally. There are people who would gain access to the ability to do rapid resource and EOSCAR transactions and will illegally delete items from your credit report. But, this is not only fraudulent but shortsighted. Suppose I can click a button and delete a collection account from your credit report. Well, that creditor will report that item next month anyway; it will pop right back on. The credit sweep, therefore, was useless.
Credit repair isn’t a short process
No part of credit repair happens over night. Tradelines, credit repair, debt settlement… these all take time. The only instant part of credit repair is the part where you can damage your credit overnight. Properly and permanently fixing it takes much longer. We recommend that you be very wary with individuals that promise quick results – they likely are scammers that don’t comply with Federal regulations.
All in all, the credit sweep process is not a real process and you should pay no attention to companies that offer it. If you’re looking for credit repair, the market is saturated with everything from scammers to people who dedicated their lives to the industry. During your search for credit repair companies, use your brain and use your gut. If they offer credit sweeps, do not hire them.
Updated: November 2, 2021