Is Credit Repair Just a Scam?

Despite what the credit bureaus might say, it IS possible to repair your credit and remove inaccurate information from your credit report . . .but this doesn't mean that all businesses making these claims are legitimate.

Companies using illegal methods have given the credit repair business a bad name. If you want to repair your credit, it's critical to first determine which companies are fraudulent to avoid falling victim to a scam that could leave you in an even worse credit situation.

The History of Rip-Offs and Scam Artists

If "credit repair" has a bad connotation, fly-by-night businesses that abounded in the early nineties are to thank. Many of the worst credit repair scams involved offers of quick-fix solutions to credit problems and were exactly as they sounded - too good to be true.

Shady businesses promised that they could remove any type of negative credit, whether the information was accurate or not. Some even claimed to have secret software that could infiltrate the credit bureaus' records and delete negative information.

In the worst cases, some companies promised new identities or fresh credit using stolen social security numbers. Many consumers fell prey to these scams . . . to the tune of more than 50 million dollars!

Legitimate credit repair companies have been working for years to repair the bad reputation generated by these crank companies, but some people still consider "credit repair" a dirty word. The Federal government worked hard to weed out and shut down these disreputable companies bent on conning innocent consumers, but this turned out to be a monumental task.

Without an easy way of separating the legitimate companies from the bad ones, both the government and credit bureaus found it easier to lump all these companies together and declare that legal credit repair is simply not possible.

3 Warning Signs of a Credit Repair Scam - How to Avoid Getting Ripped Off

When you decide that you need help fixing your credit, there are some warning signs that could help you avoid being ripped off:

• Does the company guarantee results? Steer clear! No credit repair company can guarantee a pre-determined outcome.
  
  
• Do they promise to remove ANY type of negative credit, accurate or not? While many types of negative credit can be legally removed, this is a false claim.
  
  
• Does the company ask for thousands of dollars up front? Legitimate companies don't.
  

Who Should I Trust to Fix My Credit Reports?

The best way to achieve the results you're looking for is to seek the assistance of a licensed attorney experienced in restoring credit. The attorneys at Lexington Law have been able to use a legal dispute process to delete or correct questionable credit listings for thousands of clients.

You wouldn't think twice about finding an attorney when it comes to legal matters such as a real estate closing or writing your will. So why not trust a team of credit repair attorneys with more than a decade of experience to fix your credit?

* We were so impressed with Lexington Law that we decided to become a sponsor and put up this website. 

You don't have to endure bad credit, and you can start restoring your creditworthiness with the help of Lexington Law's experienced network of licensed attorneys who have a track record you can trust.

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