Myth: A Credit Repair Service Can Fix My Credit Report

Fact: Credit repair services cannot “fix” a credit report or credit score. If there is incorrect information contained in your credit report, a credit improvement service can help you dispute that information. Of course, you can also save yourself the money and do it yourself for free. However, if there is factually correct negative information contained in your credit report, there is no long-term solution available to you through a credit repair service. Credit repair services will try to have information removed from your credit by filing disputing letters on your behalf. But accurate information cannot be removed from your credit reports this way and the process may cause more harm than good. If you believe your credit report contains incorrect information, visit the Federal Trade Commission's Web site and read the page titled “How to Dispute Credit Report Errors.” If your credit report contains accurate negative information, consider it a new day, and pay all your debt on time and in full from this day forward. Your credit score will gradually improve over time.