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:
- Want payment prior to repair services;
- Do not tell you your legal rights;
- Recommend that you not contact a credit bureau directly; or
- Suggest that you try to invent a "new" credit report.
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 Commissions Credit Repair: Self-Help May Be Best
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