The Arizona Bankruptcy Lawyer Blog has posted an article that discusses what you should be aware of if you’re considering “repairing” your credit score. You actually can repair your credit score, but you have to hire someone or a company to do it.
Before you hire someone to repair your credit score, keep the following in mind:
1. If a credit repair company says they can remove all the negative marks from your credit report then they are selling the “proverbial bridge.” Credit reporting bureaus are required to remove correct or even negative information after a 7 to 10 years has passed (10 years for bankruptcy, 7 years for credit). However, they’re not required to remove correct information without a reason. Sometimes the credit repair company’s removal of information on your credit report simply causes the credit bureau to add it to your account again once they realize it’s been taken off.
2. You should never let a credit repair company talk you into creating a new identity to start with fresh credit. Not only is it illegal, but it also doesn’t work. The debt can still be traced to you and you’ll still have to pay for it.
3. Credit repair companies are legally prohibited from charging you upfront fees.
If a credit repair company is offering a deal that seems too good to be true, then it probably is. Before you hire someone to repair your credit, you should consult with an experienced attorney in this field to make sure this is the best option for you.
If you have had problems with credit reporting errors and have questions or concerns, feel free to contact us through our website or by calling 205-879-2447.
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