Bad Credit Repair - Your Free Online Database For Debt Solutions & Free Debt Advice.

You see credit repair advertisements everywhere and they all make the same claims:

• "Credit problems? No problem!"
• "We can erase your bad credit-100% guaranteed."
• "Create a new credit identity-legally."
• "We can remove bankruptcies, judgments, liens, and bad loans from your
  credit file forever!

Do yourself a favor and save some money, too. Don't believe these statements.
Only time, a conscious effort, and a personal debt repayment plan will improve
your credit report.

Beware

Everyday, companies nationwide appeal to consumers with poor credit histories.
They promise, for a fee, to clean up your credit report so you can get a car loan,
a home mortgage, insurance, or even a job. The truth is, most can't
deliver. After you pay them hundreds or thousands of dollars in up-front fees, these
companies do nothing to improve your credit report; many simply vanish with your
money.
 

The Warning Signs

If you decide to respond to a credit repair offer, beware of companies that:

• Want you to pay for credit repair services before any services are provided,
  unless it's a small set up fee
• Do not tell you your legal rights and what you can do-yourself-for free
• Recommend that you not contact a credit bureau directly
• Suggest that you try to invent a "new" credit report by applying for an
  Employer Identification Number to use instead of your Social Security Number
• Advise you to dispute all information in your credit report or take any action that
  seems illegal, such as creating a new credit identity. If you follow illegal advice
  and commit fraud, you may be subject to prosecution.

You could be charged and prosecuted for mail or wire fraud if you use the mail or
telephone to apply for credit and provide false information. It's a federal crime to
make false statements on a loan or credit application, to misrepresent your Social
Security Number, and to obtain an Employer Identification Number from the Internal
Revenue Service under false pretenses.

Under the Credit Repair Organizations Act, credit repair companies cannot require
you to pay until they have completed the promised services.


The Truth

No one can legally remove accurate and timely negative information from a credit report.
But the law does allow you to request a reinvestigation of information in your file that
you dispute as inaccurate or incomplete. There is no charge for this.
Everything a credit repair clinic can do for you legally, you can do for yourself at little
or no cost.

Our Debt Counseling will help you do just that


According to the Fair Credit Reporting Act:

• You are entitled to a free copy of your credit report if you've been denied credit,
  insurance or employment within the last 60 days. If your application for credit,
  insurance, or employment is denied because of information supplied by
  a credit bureau, the company you applied to must provide you with that credit
  bureau's name, address, and telephone number.
• You can dispute mistakes or outdated items for free. Ask the credit reporting
  agency for a dispute form or submit your dispute in writing, along with any
  supporting documentation. Do not send them original documents.

Clearly identify each item in your report that you dispute, explain why you dispute the
information, and request a reinvestigation.
If the new investigation reveals an error, you may ask that a corrected version of the
report be sent to anyone who received your report within the past six months.
Job applicants can have corrected reports sent to anyone who received a report for
employment purposes during the past two years.

When the reinvestigation is complete, the credit bureau must give you the written
results and a free copy of your report if the dispute results in a change. If an item
is changed or removed, the credit bureau cannot put the disputed information back
in your file unless the information provider verifies its accuracy and completeness,
and the credit bureau gives you a written notice that includes the name, address,
and phone number of the provider.

You also should tell the creditor or other information provider in writing that you
dispute an item. Many providers specify an address for disputes.
If the provider then reports the item to any credit bureau, it must include a notice of your
dispute. In addition, if you are correct-that is, if the information is inaccurate-the information
provider may not use it again.

If the reinvestigation does not resolve your dispute, have the credit bureau include your
version of the dispute in your file and in future reports.
Remember, there is no charge for a reinvestigation.
 

Reporting Negative Information

Accurate negative information generally can be reported for seven years, but there
are exceptions:

• Bankruptcy information can be reported for 10 years;
• Information reported because of an application for a job with a salary of more
  than $75,000 has no time limitation;
• Information reported because of an application for more than $150,000 worth of
  credit or life insurance has no time limitation;
• Information concerning a lawsuit or a judgment against you can be reported
  for seven years or until the statute of limitations runs out, whichever is longer; and
• Default information concerning U.S. Government insured or guaranteed student
  loans can be reported for seven years after certain guarantor actions.
   

The Credit Repair Organizations Act

By law, credit repair organizations must give you a copy of the "Consumer Credit
File Rights Under State and Federal Law" before you sign a contract.
They also must give you a written contract that spells out your rights and obligations.
Read these documents before signing the contract. The law contains specific
protections for you. For example, a credit repair company cannot:

• make false claims about their services;
• charge you until they have completed the promised services; or
• perform any services until they have your signature on a written contract
  and have completed a three-day waiting period. During this time, you can
  cancel the contract without paying any fees.

Your contract must specify:

• the payment terms for services, including their total cost;
• a detailed description of the services to be performed;
• how long it will take to achieve the results;
• any guarantees they offer; and
• the company's name and business address.
   

Need Help?

Just because you have a poor credit report doesn't mean you won't be able to get credit.
Creditors set their own credit-granting standards and not all of them look at your credit
history the same way. Some may look only at more recent years to evaluate
you for credit, and they may grant credit if your bill-paying history has improved.
It may be worthwhile to contact creditors informally to discuss their credit standards.

If you can't resolve your credit problems yourself or you need additional help, you
may contact us for a free credit counseling service.
We can arrange a repayment plan that is acceptable to you and your creditors.
We can also help you set up a realistic budget. This counseling services
are offered at no cost to all consumers. Simply click here to fill our a short form.
You can also see our report on Debt Consolidation. to determine if it's the right
program for you.



Do-It-Yourself Check-Up

Even if you don't have a poor credit history, it's a good idea to conduct your own credit
check-up, especially if you're planning a major purchase, such as a home or car.
Checking in advance on the accuracy of the information in your credit report could
speed the credit-granting process.

You can obtain a free credit report and score here.

You are also entitled to one free report a year if you can prove that
(1) you're unemployed and plan to look for a job with 60 days,
(2) you're on welfare, or (3) your report is inaccurate because of fraud.
Otherwise, a credit bureau may charge you up to $12.00 for a copy of your report.
 

The Tree Major Credit Bureaus Are:

Equifax
1-800-685-1111
www.equifax.com

Experian
1-888-EXPERIAN (397-3742)
www.experian.com

Trans Union
1-800-916-8800
www.transunion.com