| Credit counseling services have acquitted a stigma in | | | | credit bureaus stating that the information reflected |
| the United States. To blame for this negative | | | | is incorrect and demand this information be removed |
| perspective on these services rests on those credit | | | | until an investigation is completed. Credit bureaus |
| repair counselors who have deceived and misled their | | | | remove the negative information and wait for a |
| clients. | | | | report to come in. The credit companies will then |
| General advice is that you should repair your credit | | | | provide their clients with a "clean" report to show |
| on your own if you can. Do not visit a credit repair | | | | that their credit rating has indeed improved. The |
| counselor if you can avoid it, with one reason being | | | | problem is when, or if, those negative notations |
| that you will need to share information which may be | | | | return following the investigation. |
| mishandled later. Credit consolidation or working with | | | | This does not intend to mean that every credit repair |
| creditors to reduce your interest rate on credit cards | | | | organization is illegitimate or a scam. Some agencies |
| of credit loans may be good options to pursue, but | | | | are honest and have earned their reputation. Such |
| should be researched thoroughly to determine if it will | | | | agencies can be trusted to remove negative |
| actually help your credit situation and not damage it | | | | information which is actually incorrect. This is, |
| further in the long-term. | | | | however, the most that a credit repair agency can |
| Most creditor counselors do little to help your credit | | | | do to improve your rating. No agency can remove |
| score while most offer debt reduction. This is not the | | | | negative information that is correct and this |
| same as improving your credit score. The reality is | | | | information remains on your credit report for seven |
| that your credit counselor may actually reduce your | | | | years from the time it is reported. Even worse, a |
| credit rating if they do not submit your payments on | | | | bankruptcy remains on a credit report for ten years. |
| time, which sometimes does occur. Your credit report | | | | It is always a better option to handle credit issues |
| will include a note such as "30 days late" which could | | | | yourself. Choosing this option will avoid providing |
| be avoided if you are submitting the payments | | | | personal information and you will know what your |
| yourself. | | | | actual credit rating is. |
| Some credit repair companies may mail letters to the | | | | |