Do credit repair programs really work?
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snwbrdr960 wants to know:
I came across some programs offered by, ex-bankers, ex-credit bureau agents that offer tactics and software that enable you to repair your credit. They claim to be able to create a new credit file. Anyone know if they work? What happens to your old credit file?
I came across some programs offered by, ex-bankers, ex-credit bureau agents that offer tactics and software that enable you to repair your credit. They claim to be able to create a new credit file. Anyone know if they work? What happens to your old credit file?
Tagged with: Credit Bureau • Credit Repair Programs • New Credit File
Filed under: True Credit
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These are generally scams. They ask for money up front and they don’t do much. They can’t give you a new credit file or “erase” anything.
99% it will not work
To be frank, they cannot do anything that you cant do on your own. The best thing would be to read the following articles and gain an insight:
Debt Consolidation – Get Out Of Debt
How to Hire a Debt Counselor?
What is Debt Relief?
Debt Management and Building Wealth
How to lower your debts?
How to reduce debt : How to lower your expenses?
Building Wealth by Reducing Debt
How to Manage Your Credit Card Debt?
The way they ‘create’ a new credit file is typically by creating some variety of fraudulent identity. Then they will take your money and run leaving you with federal charges. A lot of these illegal services can be identified when they ask for money up front which is illegal (see the ftc link).
One credit service I know and trust is National Consumer Credit Service ( ) They offer a pay for performance option so that you only pay for items they are able to remove or improve on your credit report.
In addition they have a great Q&A section on credit and credit repair subjects.