Credit Repair

How to find a credit repair service

If you're one of the millions of Americans struggling with debt, a credit repair service can help raise your credit score and get negative information off your credit report. While most experts urge consumers to undertake credit repair on their own, this approach can take a long time. Companies that specialize in bad credit repair may be able to offer you a faster way to repair credit.

How Credit Repair Services Can Help

A legitimate credit repair service offers you the information and tools you need to self-direct the majority of your credit repair. They'll help you access free credit reports, show you how to dispute inaccurate information on your credit reports, bring past due accounts current and add positive payment histories.

There is no magic formula that will instantly or even quickly repair credit that's been bad for a long time. To do it right, you've got to do it legitimately, which means avoiding the unscrupulous credit repair companies that make too-good-to-be-true claims and promise overnight solutions.

Choose a Reputable Credit Repair Company

If you're going to hire a company to help you with bad credit repair, make sure the agency operates within the confines of the Credit Repair Organizations Act (CROA). Any credit repair service that contravenes CROA regulations is breaking the law and won't be able to deliver the results it promises.

Legitimate credit repair services have the following features:

  • They operate according to CROA regulations; ask for proof of this in writing.
  • They only ask for money after they're provided the services they've promised.
  • They show you how to detect inaccuracies on your credit report, but they leave you to contest the inaccuracies on your own.
  • They provide you with copies of their service contracts before you're asked to sign up.
  • They allow you to cancel signed contracts within three days, in case you should change your mind.

Similarly, there are warning signs that indicate you're dealing with a credit repair company that isn't legitimate. Any credit repair agency that instructs you to create a new identity or asks you to waive the consumer rights you have under the CROA must be avoided. You should also decline services that will not provide written proof that they act in accordance with the CROA.

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