Credit Repair

Whether you are struggling to come back from a bankruptcy or you just have really ugly credit you probably are searching for the best tips and advice to start rebuilding and repairing your credit. This website has been created to assist you in all things credit. Take a moment to learn about credit, how to get it, find out what credit you have, and even repair it.

If you are at the point where you might be considering bankruptcy as the only viable way to repair your credit-think again! There are ways to get it done, although they will take plenty of time, that leave you with more options than bankruptcy which will leave a big black mark on your credit for seven to ten years.

You can subscribe to a credit repair service but if paying for this service is prohibitive you can learn what you need to do to repair your credit yourself. Your creditors want to help you in this endeavor, believe it or not, because if you fail so do they! If you can take advantage of a free credit counseling service (make sure they are really free) then this is a good place to start. If you are going to go it alone follow these tips.

Figure out your income, all sources
Lay out all your debts, bills and financial obligations
Check your credit (choose from our menu to find out how to do this free)
Clear up any inaccuracies
Contact each creditor to go over re-payment options
Ask for late payment entries to be removed once you have re-established on time payments
Make an agreement in writing with your creditor that after any judgments have been paid in full they will remove them and report account as closed

After you are current on bills make sure you stay that way or all your work is for naught!

While you cannot legally remove information from a credit report that is accurate, you are allowed by law to dispute mistakes or outdated items for free. Submit your dispute in writing to the credit reporting agency and be sure to follow up on it until it is taken care of. This is the first step on your path to credit repair. You can do everything a credit repair clinic can at little or no cost.

If you decide not to go it alone and want to work with a credit repair service look for the following criteria before choosing who you will work with:

What the payment terms for services are, including the total cost
Detailed description of any services that will be performed
Length of time it will take to achieve goals
What guarantees they offer
Check their credentials
Ask for references

Be sure the first four on this list are included in any contract you sign. A credit repair company cannot:

Make any false claims about their services or fees
Charge you any fees until the process has been completed as promised
Perform any services without a signed contract
Must wait to complete the three-day waiting period (during which time you can change your mind)

Beware of companies that offer "credit repair." "Credit repair" companies often use ads that suggest they can help you overcome bad credit. Some of these companies charge hundreds if not thousands of dollars to "clean up" bad credit reports. However, these companies cannot do anymore than you can only do what you can do yourself - and at no charge. Credit repair is up to you. No company has a "secret" method to remove negative information.

The FTC states on their website:

Many states have laws regulating credit repair companies. State law enforcement officials may be helpful if you’ve lost money to credit repair scams.

If you’ve had a problem with a credit repair company, don’t be embarrassed to report it. While you may fear that contacting the government will only make your problems worse, remember that laws are in place to protect you. Contact your local consumer affairs office or your state Attorney General (AGs). Many AGs have toll-free consumer hotlines. Check the Blue Pages of your telephone directory for the phone number or check www.naag.org for a list of state Attorneys General.