Can credit repair companies be trusted?

Recently, a number of credit repair companies have been making bold claims about removing bad credit, bankruptcy, tax liens, and judgments from credit reports.

Some credit repair companies even offer money back guarantees if they are unable to remove delinquencies. Can these companies really make these guarantees?

Some of these credit repair companies are outright frauds, however, a few companies, notably, Lexington Law, are able to delete thousands of negative credit listings every day by using the dispute process, and they have been doing it for 15 years.

Who do you trust to help you restore your credit?

It has been reported that fraudulent credit repair companies have cheated Americans over fifty million dollars in credit repair scams. People have flocked to the "credit doctors" only to find out that their results did not live up to their advertisements.

Illustration of two men shaking hands, one with crossed fingers behind his backSo, can credit repair companies guarantee results?

No credit repair company can "guarantee" to remove credit delinquencies. Offering a guarantee to completely remove bad credit from a credit report would be like a defense attorney guaranteeing that the jury will find his client innocent. Guarantees are a certain sign of fraud.

The credit bureaus oppose companies that offer how to do it yourself credit repair instruction and companies and credit repair companies.

The reality is that you do not need to live with bad credit for seven to ten years providing you are willing to challenge the verifiability or accuracy of your credit listings. It is feasible to rebuild creditworthiness within a shorter time.