Credit repair clinics cannot remove correct information from your
credit report. Correct information remains on your report for seven
years. Chapter seven bankruptcy is on your credit report for ten
years.
Often credit repair clinics will charge large sums of money to
obtain your credit report for you and to write letters of dispute
about inaccurate information. You can easily obtain a copy of your
credit report from each of the credit bureaus for eight dollars
each (see below). When you have been denied credit, you are entitled
to a free credit report from the credit bureau. You can dispute
inaccurate information on your credit report with a simple letter
to the credit bureau (see below).
According to the law, credit repair clinics may not charge or
receive any money for a service until it is fully performed. A
credit repair organization may not take any action intended to
conceal adverse information from a credit reporting agency or a
creditor. If anyone tells you that they can remove negative, but
correct information from your credit report, they are making promises
they cannot keep. The best way to repair your credit is to begin
making on-time payments on all of your debts.
