The ad claims, "Erase bad
credit or reduce payment to your creditors!" What’s true and what’s hype?
No matter what the ad states, a poor credit history can’t be erased...but
there are some things you can do.
Under the Fair Credit Reporting Act, you can question an item in your
credit file and your complaint must be investigated. However, the negative
information will be removed only if an investigation determines it’s
incorrect. A credit repair company, no matters what it claims, cannot
compel the credit bureau to remove negative information from your file, if
that information is accurate.
Some companies claim they will work with your creditors to consolidate
your debts, or reduce the size of your monthly payments. Before you pay
large sums of money to these companies, call our office for referral to
non-profit counseling services that provide free or low-cost help.
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