financial scams

The Truth about Credit Repair

Good credit is important, because your credit rating is your financial passport to the world. If you have a poor credit score, you may be tempted to use a credit repair company or clinic that promises it can fix your credit report. Why aren’t the promises these organizations make generally true?

1. Credit reporting companies don’t allow changes to be made on their reports.
2. Credit reporting companies don’t let anyone but you to see your report.
3. A credit repair company can’t erase negative information on your credit report if it’s true.

“C” is correct. If negative information on your credit report is accurate, no one can change it. Credit repair companies also are likely to charge high fees to do something you can actually do yourself. Click here to learn how to request, review, and dispute incorrect information on your credit reports.