Credit Repair Companies; Real or Rip-Off

There are many credit repair companies that refer to themselves as "Credit Consultants" or "Credit Advisors" that claim that they can remove negative information from your credit report.



These companies usually lure you in with variations of the message "If you were turned down because of bad credit, we can help." You are then typically charged hundreds and sometimes thousands of dollars for the promise of the company to clean up your bad credit report. The truth is, these companies can only do what you can do for yourself and what’s even better… it’s free of charge.



No one or no company has the legal ability to remove negative reported information from a credit report that is reported accurately. Many credit repair companies deceive their clients by promising that bankruptcies, judgments, tax liens, and charged-off accounts can be removed from your credit report in usually five months to a year.



Credit repair companies bombard credit reporting agencies with requests to verify the negative reported information and if the credit reporting agency can not verify the information within 30 days, the information is then removed. Be warned that in the event that the information is later verified to be accurate, it is then put back on the report as a negative reporting.



Be advised: Before you sign a contract with a credit repair company or give them any money:



You may obtain a copy of your credit report on your own for free and you may dispute any incorrectly reported entries on your credit report. Be sure to contact the company reporting the negative information on your report in writing. Keep a copy of all correspondence.



Many credit repair companies claim that they can get you a credit card regardless of your credit rating. Typically, these cards are secured credit cards that require high application fees or deposits that must be paid prior to receiving the card. You may apply for these cards yourself. Applications are available online, through the mail and at your local bank.



Many fraudulent credit repair companies have been shut down by law enforcement agencies, but it is hard to do unless complaints and reports are made about the company doing so. If you feel that a credit repair company took advantage of you, do not hesitate to contact the Better Business Bureau or the Federal Trade Commission.



For assistance to legally, quickly, and accurately help improve your credit score and begin the journey to financial stability go to:



http://www.attorneycreditrepairguide.com