The Truth About Credit Repair

Only consistent efforts and making payments on your debts will improve your credit. Therefore, it's important to carefully choose your credit counseling agency. Some businesses make promises about repairing your credit that they cannot deliver.

Beware of companies that:

• Promise to erase your bad credit or remove bankruptcies and judgments from your credit file. If negative information is in your credit report, but it's accurate, then no one can have it removed.
• Promise you fast and easy credit repair. If you have bad credit, it can take years to repair your credit legitimately.
• Offer to create a new identity for you. If you make false statements on loan applications, or use a fake Social Security number, you will be committing fraud. You can also be charged for mail or wire fraud if you use the mail or telephone to apply for credit and provide false information.
• Want you to pay before they will provide any service. The company might not be legitimate.
• Will not tell you your rights and what you can do yourself. Remember you can order the credit report yourself. If you see errors on your report, you can also request that the credit reporting agencies correct them.