The fact is that no credit repair company can do anything that you would not be able to do by yourself on your own.
The fact is that nobody can remove accurate information from your credit report.
In addition, the law requires that these so called “credit repair” companies will not charge you any money up front, but only after they have performed any services.
The fair credit reporting act is very clear:
- You are entitled to a free copy of your credit report if you’ve been denied credit, insurance or employment and request the report within 60 days of notice, or if you can prove that (1) you’re unemployed and plan to look for a job within 60 days, (2) you’re on welfare, or (3) your report is inaccurate because of fraud.
- If your application for credit, insurance, or employment is denied because of inaccurate or incomplete credit information, the company to which you applied must give you the name and address of the reporting credit bureau.
- There is no charge to dispute mistakes or outdated information on your credit record. Ask the credit bureau for a dispute form and submit it with any supporting documentation.
- Bankruptcy information can be reported for 10 years.
- Information about a lawsuit or judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer.
- Information reported because of an application for a job with a salary of more than $75,000 has no time limit.
- Information reported because of an application for more than $150,000 worth of credit or life insurance has no time limit.
If you have inaccurate information on your credit report that you would like to have removed you can very well do it yourself, and perhaps save hundreds of dollars that you would have paid to someone.
On The Federal Trade Commission website there is very useful information that we suggest you read as well. The link is provided to you in our outside resourcespage.
If you have any question about your specific situation, please do not hesitate to contact us, and a certified credit counselor will advise you.