Credit repair companies target people who desperately want a car, a house, insurance, or even a job, but have bad credit. These people see the ad that claims, "We can erase your bad credit--100 percent guaranteed!" They claim that they can erase information from your credit report.
If you feel that you need to seek repair for your bad credit it is best to keep in mind the following:
· Credit repair services cannot make false claims about their services.
· You cannot be charged until services are complete.
· They cannot perform any services until they have your signature and have completed a 3-day waiting period.
· Inaccurate information can be removed at no cost by reporting the error to the credit-reporting agency.
· It is illegal to create a new identity to obtain credit.
· Sometimes self-help may be best!
To improve your credit rating, pay your bills on time, report discrepancies to the credit bureau, reduce the amount you owe, and close unused lines of credit. Don't forget the importance of obtaining your credit report at least once a year! You can do so by contacting the three national credit bureaus: (In some states, including Georgia, you get up to two free reports a year from each bureau.)
Equifax (1-800-685-1111)
Experian (1-888-397-3742)
Transunion (1-800-916-8800)
Debbie Wilburn is County Agent/Family and Consumer Science Agent with the Hall
(770)535-8290 and the Forsyth (770)887-2418 County Extension Service.
http://accesswdun.com/article/2003/2/183305