University of Missouri Extension

Credit Repair

Everyday, companies nationwide appeal to consumers with poor credit histories, promising to clean up their credit reports for a fee. If you have a poor credit history, you may be tempted to make use of these services. However, after paying hundreds or even thousands of dollars in up-front fees, you may find that it is actually your money that vanishes, not the bad credit.

If you do decide to respond to a credit repair offer, beware of companies that:

No one can legally remove accurate and timely negative information from a credit report. Everything a credit repair clinic can do for you legally, you can do for yourself at little or no cost.

Related web site: http://www.ftc.gov/bcp/conline/pubs/credit/repair.htm

Source: Federal Trade Commission’s Credit Repair: Self-Help May Be Best

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Last updated: March 09, 2005
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Kate Akers
Mark Belwood
Cynthia Crawford
Sandra McKinnon
Diana Hammond

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