We have all seen advertisements in newspapers, on TV, and on the Internet.  You hear them on the radio, get fliers in the mail and you may even get calls from telemarketers offering credit repair services. They all make similar claims:

• "Repair your Credit...No problem!"
• "Erase your bad credit -- 100% guaranteed."
• "Create a new credit identity"
• "Remove bankruptcies, liens, and bad loans forever!"
  
  Do yourself a favor and save some time and money. Don't believe these pie-in-the sky statements. Only time,personal debt repayment and the deletion of inaccurate items will improve your credit report.
  
  Deleting damaging credit or adding positive items is simply the process of disputing the inaccurate information in your credit file. 
  
  However, removing inaccurate or improving damaged credit can be very time consuming and frustrating.  So when most people learn it takes personal effort and persistence in dealing with the credit agencies and creditors they give up.  But why, your individual credit rating is one of your most important personal possessions.  It's the most important factor in obtaining new financing and the interest rates you receive on new and existing credit accounts. 
  
  Don't despair a credit remediation specialist can recognize what items you should address to increase your credit-worthiness at no-cost.  Often this includes identifying "good" credit that is not reporting correctly.

Avoid the pitfalls of greater damage by disputing, paying or closing the wrong accounts or paying a 3^rd-Party for "instant repair".  

Scams - Removing Bad Credit
Credit repair companies reach out to consumers with poor credit histories everyday. They promise to clean up your credit report so you can qualify for a car loan or a home mortgage. The truth is, many don't deliver on the promise of instant credit repair. Most times they will do nothing to improve your credit report and often decrease your scores in the short term.  Why waste hundreds or thousands of dollars in up-front fees,

Warning Signs
Beware of credit repair companies that:

• Require large fees upfront - prior to the service being provided;
• Fail to inform you that you can do yourself for free;
• Tell you not to contact a credit bureau directly;
• Ask you to apply for an Employer Identification Number or Tax ID  instead of your Social Security Number to obtain a new start;
• Tell you they will dispute all the information in your credit report.

While it may seem extreme to some, creating a "new" credit profile may be appealing to those with little hope.  Understand that you may be subject to prosecution if you provide false information or obtain an Employer Identification Number from the Internal Revenue Service under false pretenses.

The Answer
No one can legally remove accurate and timely negative information from a credit report.  You can, however, dispute inaccurate information without any cost.  The Fair Credit Reporting Act states:

You can dispute mistakes or outdated items for free. Ask the credit reporting agency for a dispute form or submit your dispute in writing, along with any supporting documentation. 

Before you begin disputing items on your credit you may wish to consult a remediation specialist who will advise you on how to repair your own credit.  They will advise you on what you should and should not dispute. 

Many people actually decrease their credit scores by disputing the wrong accounts, paying off old collections and closing open accounts.
Make sure you understand the timeline you are working with to complete your credit repair.

Most credit repair companies focus on deleting bad credit and don't realize that a great percentage of credit reports include inaccuracies regarding the positive or good credit.  So other quick fix companies offer ways to add good credit to a credit profile almost instantly.

More Credit Scams - Adding Instant Good Credit

There several companies who will add seasoned "authorized user" trade lines to somebody's credit profile for large fees.  Yes you heard that correctly an individual with little or poor credit can BUY positive trade lines.  Visit the following providers for more details:

Raise Credit Score Now
Seasoned Trades
Instant Credit Builders

The fees for these trade line packages range from $1000 to $4000 depending on the number of trade lines, the credit limit and seasoning.  This practice, though "legal", is highly controversial to say the least as its impact unfairly influences (raises) the credit score.  It rewards buyers for positive credit experiences that the prospect did not actually participate in.  Lenders and CRA'S have adopted policies to minimize the effects of this type of activity.  Lenders may choose to ignore the accounts completely.  This would obviously be devastating to someone who spent $4000 to "buy" credit in an effort to obtain financing.

So if you wish to improve your credit score or assist someone who might benefit from legitimate credit repair efforts avoid the quick fix repair scams and consult a remediation specialist.  They can advise you on what to do yourself or recommend a legitimate credit repair firm that will save you both time and money in the long run.