Credit Repair Counseling

There is a lot to be leery about when you are seeking credit repair counseling. The number of bogus companies online these days is staggering. You must be very careful when consulting a credit counseling firm and proceed with caution and take these tips for consideration.

Absolutely no one can erase negative information about your credit if it is true and accurate. This information remains on your credit report for 7 years and that is that. And it stays there for 10 years for bankruptcy. Even if you have finally paid off a bill that you fell behind on, that information remains on your credit report for the above mentioned times.

Also there are laws for credit repair services that state they can’t ask for one penny from you until they have kept the promises they made. The law also requires that they give you a detailed written contract, an explanation of your legal rights and 3 days to cancel. Make sure all of these provisions are there before you proceed.

And be very cautious of any email correspondence because many such emails are fraudulent.

You can correct some mistakes on your credit report yourself without using credit repair counseling. If for some reason you were denied credit because of something in your credit report, you have the right to request a free copy of the report.

If you have a good reason why you couldn’t pay a specific bill like you were layed off your job or suddenly couldn’t work because of an illness, you can add this explanation to your report. Just present to the credit bureau a short written explanation to add to your file.

Don’t fall for the old “create a second credit file” that some fraudulent credit counseling companies present to you. This is illegal and never works. Be on the lookout for these types of practices and then distance yourself from that sort of counseling.

If you have credit problems then get good repair counseling. You can find that from your local Consumer Credit Counseling Service. They can help in all sorts of ways including ways to build good credit.