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Credit Repair Scams

Be aware, there are credit repair scams out there. Companies offering to "Repair Your Credit" could be scams.
They charge you heavily for a service that may be worthless. These services claim to make your negative credit information disappear from your credit report.

Does it work?

Usually the credit repair company talks to the credit bureau and request that they provide evidence of your debt.
Sometimes the credit bureau erases the negative notation from your report. But this is not necessary a permanent removal. In many cases the debt record will return to your credit report, since the creditor ha the right to submit the debt records again.

What does this mean? In short, you pay a lot of money without any long term positive result. The lesson is - Repair your credit on your own.

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Establish a budget
Close your current credit card accounts
Apply for prepaid credit card
Bankruptcy is a no no
Credit repair scams
   
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