Credit Repair

By Author: C.S. Hutcherson
Total Articles: 3764
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A good credit rating isn't easy to come by. Financial burdens such as divorce and paying for a child's secondary education may have lowered your once flawless credit score, and with today's current economic state, it's easy to fall behind and lose sight of your credit rating. But regardless of the reasons that you may have let things slide, just relax, and know that with a little time and effort on your part, free credit repair is possible and doable.
A few comments on the lures of so called FREE and GUARANTEED credit repair services.
First, DON'T BE FOOLED BY OFFERS OF FREE CREDIT REPAIR SERVICES, EBOOKS, or SOFTWARE. While I have 2 Ebooks on this site that you are welcome to use for free, there is no such thing as a free lunch regarding credit repair products, services and software. Advertisements that offer something for nothing are typically just a lure. Sorry, but it's usually just that simple.
Second, DON'T BE FOOLED BY GUARANTEES THAT PROMISE TO FIX YOUR BAD CREDIT. Nobody, including the U.S. Government, can guarantee to fix your bad credit. The only person or companies that can make such a guarantee ...
... are the credit reporting agencies themselves because they own the information. And unless a credit repair agency or individual intends to hack into the servers of the credit reporting agencies, which are probably better protected than the US Pentagon's server, it just ain't gonna happen, Chief. Having said that, you should probably avoid anybody that "guarantees" they can fix your credit because that's an outright lie. So be prepared to be disappointed if you believe their advertising hype.
But that doesn't mean free credit repair is impossible. In fact it is possible if you know how to do it. But to do so will take time and effort on your part to fix the problem. Even the US Government encourages people to repair their own credit because by doing it yourself, you become a more informed and educated consumer and better able to contribute to the US economy (read: able to purchase more stuff). Please don't misunderstand or misinterpret me, because there are certainly many excellent and reputable credit repair companies that can help you repair your bad credit. It's just been my experience that there are also an infinite number of disreputable credit repair companies that are in business with the sole intent of taking your hard earned money and giving you nothing in return.
if you can afford to pay a third party for credit repair services, then I recommend that you check with your State Attorney General's office and inquire as to any complaints or past & pending lawsuits against the firm prior to utilizing their service. Also, I suggest you make note of the following and beware of companies that:
1.) Want you to pay for credit repair services before any services are provided;
2.) Do not tell you your legal rights and what you can do-yourself-for free;
3.) Recommend that you not contact a credit bureau directly;
4.) Suggest that you try to invent a new credit report by applying for an Employer Identification Number to use instead of your Social Security Number;
5.) Advise you to dispute all information in your credit report or take any action that seems illegal, such as creating a new credit identity. If you follow illegal advice and commit fraud, you may be subject to prosecution.
It's imperative that you also understand that you can be charged and prosecuted for mail or wire fraud if you use the mail or telephone to apply for credit and provide false information. It's a federal crime to make false statements on a loan or credit application, to misrepresent your Social Security Number, and to obtain an Employer Identification Number from the Internal Revenue Service under false pretenses. And remember that under the Credit Repair Organizations Act, credit repair companies cannot require you to pay until they have completed the promised services.