Legitimate credit repair services are losing credibility because of some unscrupulous companies that purposely mislead customers who put their trust in them to help them repair their credit.
It is widely believed that you can repair your own credit without the help of a credit repair service. The only real way to improve your credit rating is to improve your debt-income ratio and to pay your monthly obligations on time. You dont need a service to help you accomplish this.
What most credit repair counseling services are actually offering you is debt reduction. Using this type of service can actually do more harm than good to your credit rating, as you will end up paying less than the agreed monthly amount and this will result in your payments being reported 30 days late month after month.
Another tactic that credit repair counseling services use is to send to the three credit reporting agencies letters stating that the negative information on your credit report is inaccurate, and demand that they remove this information. Credit reporting agencies are required to remove this information while they investigate the claim that the information is inaccurate. ...
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