You see the ads in newspapers, on TV, and online. You hear them on the radio. You get fliers in the mail, email messages, and maybe even calls offering credit repair services. They all make the same claims:
“Credit problems? No problem!”
“We can remove bankruptcies, judgments, liens, and bad loans from your credit file forever!”
“We can erase your bad credit — 100% guaranteed.”
“Create a new credit identity — legally.”
Do yourself a favor and save some money, too. Don’t believe these claims: they’re very likely signs of a scam.
Indeed, attorneys at the Federal Trade Commission, the nation’s consumer protection agency, say they’ve never seen a legitimate credit repair operation making those claims. The fact is there’s no quick fix for creditworthiness. You can improve your credit report legitimately, but it takes time, a conscious effort, and sticking to a personal debt repayment plan.
From the Federal Trade commision
from the bankruptcy firm
Credit "Repair" is something you do yourself. You don't want to pay my fees to deal with Transunion or Equifax. You can see your credit and dispute it yourself at www.annualcreditreport.com
Bankruptcy will almost always improve your credit in the long run if your credit has collapsed. A credit score is nothing other than the odds of your future default on credit. Improve the odds that you won't default in the future and your score will improve. A fresh start with no debt can improve those odds.