Can credit repair companies be trusted?
Many "credit repair" companies claim to remove
negative credit with the flick of a wrist. Their advertisements
make bold assertions and money-back guarantees: "Bankruptcy, tax
liens, judgments... no problem!! One hundred percent guaranteed!!
Credit report 100% cleared in 30 days!!" Can they really make such
While some credit repair companies are outright
frauds, others are not fraudulent and they use the dispute process
to obtain impressive results. In fact, they delete thousands of
negative credit listings every day. There is a company called,
Lexington Law who has been doing it for 15 years.
Click Here to learn more.
Unfortunately, it is risky to trust anyone to
help you restore your credit. It is estimated that fraudulent
credit repair companies have bilked Americans out of more than
fifty million dollars. The majority of credit repair companies
were started by entrepreneurs with a penchant for marketing.
Consumers have flocked to these "credit doctors" only to discover
that their advertisements proved far more impressive than their
results. Hiring a credit repair company is like playing Russian
roulette. Many of them are effective and legitimate, but it is
difficult to tell a rip-off from the real article.
So, can credit repair companies
Not a chance! No credit repair company is so
good that it can guarantee a specific outcome. It would be like a
defense lawyer guaranteeing that the jury will find his client
innocent. Guarantees are a sure sign of credit repair fraud. A
warranty, where the credit repair company promises a refund if
certain results don't occur, is a better, more realistic claim.
Lexington Law is a respectable company that we recommend.
Not surprisingly, the credit bureaus have
declared war against the credit repair companies and those selling
instruction on how to do-it-yourself. The bureaus lambaste credit
repair companies in the media and send anti-credit repair
literature to anyone whom they suspect of using credit repair
services. The bureaus unflinchingly deny that accurate information
can be removed from a credit report.
The simple truth is that you do not have to
endure bad credit for seven to ten years as long as you feel
comfortable challenging the accuracy or verifiability of your
credit listings. If so, it is possible to restore creditworthiness
within a much shorter time.
However you decide to address your credit
challenges, realize that regardless of what you may hear in the
news media, thousands before you have sought help and restored
their credit. They can show you their homes, cars, and credit
cards. Despite the newspaper articles, TV reports, and other
credit bureau propaganda to the contrary, the simple truth
remains: you can restore your credit.