Credit Repair services

If your looking to repair credit report, be careful of all of the credit repair scams out there. These companies sometimes promise great things like removing all judgments, tax liens, historical bankruptcies, and loans gone bad from your credit report.

Sometimes these scams offer you a new legal identity and promise to eliminate your bad credit. Just so you know, the FTC states that credit repair services that are legitimate will not make such claims. There is no quick fix to repair credit report. Fixing credit takes time, commitment, and determination.

If the negative information on your report is accurate, then nobody can remove that information. In the case, where the information is inaccurate, a simple letter to the credit bureaus will resolve the issue. But, promises made by the credit repair companies to remove your credit history are impossible. Sometimes, these companies suggest a new identity for credit by using your EIN instead of your SSN. They may also advise customers to dispute all negative information on the credit report, whether accurate or not.

The act of disputing a legitimate report on your credit score could be considered fraudulent; in the case you are lying to improve your credit. Also, when applying for credit, you cannot lye on your credit application or misrepresent your SSN or EIN. If you are caught misleading credit companies, you could be in violation of Federal laws.

Sometimes the best way to repair your credit report is not the quickest method. The first step is to obtain credit reports from all three credit bureaus. Next, dispute all errors found on the reports. Then, pay your bills on time and don’t use more than 25 to 30% of the credit available to you.

By: Daniel Fusom