Finding Legitimate Credit Repair Services

Beware of Credit Repair Scams

Many people have heard about credit repair, but do not know how to find legitimate credit repair services.  To start, you should be alert to the fact that there are many credit repair scams  out there also.  Credit repair services that promise to give you pristine credit may really be too good to be true.  Some credit repair services may simply charge too much for there services, but there are also a fair number of credit repair services out there that are really no more than con artists that may make your financial condition worse or -- even worse that that -- may end up getting you involved in some sort of fraudulent activity.

So, how do you find legitimate credit repair services?

First, be wary of any credit repair services that tell you to use a false identity or to put untrue information on an application for a loan. Doing that can land you in a lot of legal trouble, and you could be charged with fraud or even certain kinds of theft, and you won't be able to just blame it on taking advice from someone else. You will be held responsible for information that you provide.

Also, never pay any large sum of money in advance to the credit card repair services provider. If they ask for more than a modest set-up fee, it may likely be that you are dealing with a credit repair services scam. Be sure to do some research on the company and understand what services they are providing -- while credit repair companies can negotiate credit card debt for you and provide other conveniences, in many cases you can do these things yourself also.. Always read all contract terms (including small print) with the credit repair services company thoroughly to be certain that there are no hidden fees. If you aren't careful, hidden fees can amount to a lot of money -- though you may not even notice some charges if you didn't read the fine print.

Be skeptical of any any credit repair services that demand access to your checking or savings account information. If it turns out that it is a credit repair services scam, then it is likely that your creditors will never receive the money and that you will actually end up with an even bigger debt problem than you had before you talked with the service.

While there certainly are some legitimate credit repair services available, it is best to make doubly sure that the company you are dealing with is reputable.  Taking a few minutes to research the credit repair services firm will definitely be worth it.  As a rule of thumb, if the credit repair services that they are offering sound too good to be true, they probably are.  Be suspicious of any credit repair service who promises that you will get instant credit repair, as credit repair just takes longer than that. Remember, you did not get into debt immediately, so you should not expect that your credit will be repaired instantly.

Can you recommend any credit repair services? 3 comments

onceuponatime66 profile image

onceuponatime66 5 years ago from USA IL

I really like this as I know that when I filed BK in 2003 that my credit should have been cleared now. I was "grandfathered" in, the law changed After that. So I have to find out why they TRW etc still has it showing on my credit thanks.


funwithtrains profile image

funwithtrains 5 years ago from USA Author

Hi onceuponatime66, thanks for your comment! Yes, seems like that should be cleared -- sometimes it is necessary to send a letter to the Credit Bureaus like TRW, or Equifax telling them they need to review the old information from your credit report. Good luck!


onceuponatime66 profile image

onceuponatime66 5 years ago from USA IL

Thanks for that advice as I will send out a letter to them asap. Have a Happy new year.

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