Can credit repair companies be trusted?

In this world where fraud seems like a second language on the Internet, it is sometimes difficult for us to trust the companies we want to deal with. When it comes to repairing your credit, we know we have to be very careful 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!! Credit report 100% paid off in 30 days!!” Can they really offer such extensive guarantees?

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

Unfortunately, it’s risky to trust someone to help you restore your credit. It is estimated that fraudulent companies have defrauded Americans out of more than fifty million dollars. Most of the 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’s hard to tell a copy from the real thing.

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. Warranties 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 who sell do-it-yourself instructions. The bureaus criticize the companies in the media and send anti-credit repair flyers to anyone suspected of using those services. The agencies strongly 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 ten years, as long as you’re comfortable challenging the accuracy or verifiability of your 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 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.