Can credit repair companies be trusted?

In this world where fraud seems like a second language on the Internet, sometimes we find it hard to trust the companies we want to deal with. When it comes to repairing your credit, we know we have to be very careful about who we choose to help us on our way.

Many companies claim to remove negative credit with a flick of the wrist. Their ads make bold claims and money-back guarantees: “Bankruptcy, tax liens, judgments… no problem! 100 percent guaranteed!! 100% cleared credit report in 30 days!!” Can they really offer such extensive guarantees?

While some companies are outright scams, others are not and use the dispute process to impressive results. In fact, they remove thousands of negative listings every day.

Unfortunately, trusting someone to help you restore your credit is risky. Fraudulent companies are estimated to have swindled Americans out of more than fifty million dollars. Most companies were started by entrepreneurs with a penchant for marketing. Consumers have flocked to these “credit doctors” only to find that their ads proved far more impressive than their results. Hiring a credit repair company is like playing Russian roulette. Many of them are effective and legitimate, but it is difficult to distinguish a copy from the real article.

So can we expect guaranteed results?

Unlucky! No credit repair company is so good that it can guarantee a specific result. It would be like a defense attorney guaranteeing that the jury will find his client innocent. Guarantees are a sure sign of fraud. A guarantee, in which the company promises a refund if certain results are not achieved, is a better and more realistic claim.

Not surprisingly, the credit bureaus have declared war on credit repair companies and those selling do-it-yourself instructions. The bureaus criticize the companies in the media and send anti-credit repair brochures to anyone suspected of using credit repair services. The bureaus adamantly deny that accurate information can be removed from a credit report.

The simple truth is that you don’t have to put up with bad credit for seven to 10 years, as long as you’re comfortable challenging the accuracy or verifiability of their listings. If so, it is possible to restore solvency in a much shorter time.

However you decide to approach your challenges, keep in mind that regardless of what you hear in the media, thousands of people before you have sought help and restored their credit. They can show you their houses, cars, and credit cards. Despite newspaper articles, television reports and other credit bureau propaganda to the contrary, the simple truth remains: you can restore your credit.

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