Credit Repair - Is it Legal?

More and more people are having vehicles repossessed, having their homes foreclosed upon, and falling behind on the payment of their bills. Many consumers, therefore, are looking for ways to improve their credit scores and are questioning if credit repair is legal. The short answer is "yes," credit repair is legal, but let's dig a little deeper than that.

A quick internet search will provide you with the web sites of a multitude of companies who profess to rebuild your credit for a fee. These companies may seem to be a wish come true to those who suffer from bad credit and want to increase their credit score.

Though there are some companies who will do little to improve your credit and certainly cannot live up to their outlandish claims, there are some companies who can help improve your credit and will do so legally.

Some companies may boast that they can remove bankruptcies and court judgments from your credit report. What you need to know it that this can only be done legally if there is a valid reason for doing so, such as the bankruptcy was entered against you in error, i.e. the bankruptcy belonged to someone else. If you have actually declared bankruptcy, then it will most likely remain on your credit report for up to ten years. It is never legal to remove accurate and true information.

In reality, the best advice regarding credit repair is to do it yourself. You can accomplish everything these companies can if you have the desire and knowledge to do so.

You can try to repair your credit legally. To begin, you will need to obtain a copy of your credit report, which you can do by contacting one of the three major credit reporting bureaus (Experian, Equifax, or TransUnion). These three credit reporting agencies are legally bound to provide you with one free copy of your credit report each year, upon your request. In addition, you can contact Annual Credit Report at (877) 322-8228 to obtain this free annual credit report.

Once you receive a copy of your credit history, you should sit down and review it carefully. You need to check all information on the credit report for false or inaccurate information. If anything is incorrectly reported, you should write the credit reporting bureau and request that the inaccurate or false information be removed or revised. You will need to provide the credit reporting agency with any documentation which substantiates your claim. Be sure to retain copies of all correspondence to and from the credit reporting agency.

So, is credit repair legal? Yes. Do you have to pay someone else to do it for you? No. All you need is the knowledge and desire to repair your credit yourself.

Learn How to Stop myncodebt.com NCO in its Tracks
Free Tips to myncodebt.com Escape Debt in Less than Seven Days.