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Repair Credit Reports

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Tamara Said:

Does anyone have a template that can help me repair my credit report?

We Answered:

This website has several good 'Credit Repair' letter templates as well as a useful 'Credit Glossary':

There are also several reputable firms that can provide this service for you at a good rate. This one comes highly recommended:

Sara Said:

Starting A Credit Repair and Financial Counseling Business?

We Answered:

This is an excellent idea, I plan on doing this myself .. You need to check out your state laws for "Credit Repair Organizations" There are regualtions you have to follow. You can get a bond throught most insurance agents, but if you dont have a business it is based on your personal credit.

But agian FIND your state laws.. There are regs regarding what your contract must state(You have to have a contract) you will need a limited power of attny.. and other things.

Beverly Said:

Can a credit repair company order my credit reports for me?

We Answered:

?redit repair work?d fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service -

Derrick Said:

Can anyone recommend a legitimate service that will help you correct the information on your credit reports?

We Answered:

Yes I can. There are only three legitimate credit restoration services in the United States. There is a difference between credit repair and credit restoration. I have published articles on this in various places in this forum and in my blog. To ensure that you have all the information you need to determine the frauds from the legits I will post it for you here.

This topic is a really hot one right now. People are falling victim to so many scam artists out there who are taking people's money and offering false hope. There ARE legitimate credit restoration companies out there. But that is the key right there; restoration versus repair. Generally speaking, credit repair is a scam and credit restoration is legit. Does this mean all credit repair offers are scams and all credit restoration offers are legit? NO! It is up to you to do the research. If you can't do the bare minimum to protect yourself, then don't come crying to me if you are taken for all of your money. But, to help you determine the scams from the legits, here are 10 tips on how to tell the difference:

1: If they advertise that they will repair your credit in anything less than 18 months, you are not dealing with a legal company. The LAW requires that any credit restoration agency cannot advertise or represent that they can restore or repair your credit in less than 18 months. (Remember this number, it is going to come up again later.)

2: Check on how long the company has been in business. If they have been around for more than 10 years, you are probably dealing with a reputable company. (Honestly, there are really only three that are recognised as legitimate in the United States.) In a future article I will discuss them in more detail.

3: Do your due dilligence. Check with the BBB. The BBB will provide an unbiased report of how many complaints have been filed against the company in the previous three years. There are two things that you want to consider here. First, if there are more than a dozen complaints over the previous three year period, then this company has serious issues and you should be concerned. Also, if the BBB has no file at all on the business, just walk away from the business. Anyone who is hiding from the BBB should be looked upon with suspicion.

4: Ask for pricing when talking to one of their reps. If they hem and haw about what they charge, or say that it depends on how much they have to remove from your report, they are hiding something from you. A good rule of thumb, if the rep is unwilling to answer any question of yours up front and with honesty, you are not dealing with a legitimate company. This does not mean that if the rep states that they will answer the question in a moment, that they are hiding something. It just means that they are getting there and just need to lay a little groundwork first. Remember, reps are all salespersons. They are there to sell you their service. This is good, believe it or not. This encourages competition in the business and keeps costs down. (Which reminds me: DON'T PAY MORE THAN $1000 PER PERSON FOR THE SERVICE.)

5: Ask if the company is licensed, bonded and insurred. Ask for proof. If they will not show you their business license (which can only be obtained AFTER they have purchased their bond and insurance) this should raise alarm bells.

6: Ask for examples of successes the company has had. A legitimate company will have copies of investigation results (with personal information blacked out of course) that will show you how successful they can be.

7: How long are they going to work for you? Yes, that's right, remember that these companies work FOR you. If they are just going to maintain a business relationship with you for the length of time it takes to repair your credit, beware. What often happens in these cases is that after the company has cleared negative information from your credit report they sever their relationship with you and a couple of months later the information returns to your credit report. Now what are you going to do? Your options are to leave the negative information and suffer for 7-10 years or hire someone, again, to remove the information, again. A reputable company will stay with you for the FULL 18 months (I told you this number would come up again). This allows them to continuously monitor your credit reports and remove any negative that may re-insert itself after the initial sanitizing.

8: What other services do they offer? If they are a legitimate company, they will have rescources that will help you to re-establish yourself in the financial world. Things like the ability to help obtain a debit card even if you can't open a checking or savings account. (Yes, believe it or not, it can be done!) Can you call their credit advisors any time for advice? Is legal representation available if you have to go to court against the credit reporting agencies? ASK! If the company is letgitimate, they will have a team of lawyers that will handle these kinds of legal matters for the duration of your contract.

9: Does their contract advise you of your rights? If not, why? Because they don't know the laws! And if they don't know the laws that are designed to protect you, how can you expect them to know the complexities of the Fair Credit Reporting Act which has 340 different laws?

10: Is there a money back guarantee? In this business refunds are usually prorated. In other words, if you have 50 negative things on your reports and they can only have 30 removed, you are refunded 40% of your money since they were able to get 60% of the information removed. If there is no money back offer, run away! A company that has faith in their services will offer to refund the money if they can't do the work.

I hope this information helps people out there who are confused about credit restoration programs. In a future article I will discuss who should and should not use credit restoration.

If you have any questions regarding credit issues or concerns you may email me at

Dave Said:

Check Systems any info how to repair credit? Free credit Reports available w/ no strings attached?

We Answered:

I'll answer your questions in reverse order. Yes, under the law you can request a free copy of your credit report from each of the 3 major credit bureaus (Equifax, TransUnion, and Experian) once each year. You can also request a copy of your consumer report from ChexSystems (free if you have been denied an account within the past 60 days, otherwise the cost is $8.00). I have included the links below.

Until you clear up the mess relating to the old bank account, you best bet will be a secured credit card. To obtain one, you will have to open a deposit account with the same bank that issues the card. The funds you deposit will be the basis for determining your credit limit (e.g., deposit $500, get a $500 credit limit). These funds will be held as security and unavailable for withdrawal for at least one year. If you maintain a good payment record during that time, the withdrawal restriction will be lifted and you will have established a good credit rating from the bank. To search for a secured card with good terms, check out (link provided below). If you belong to a credit union, try there first, as they will probably have better interest rates. Also, you may want to try Bank of America, as they have a policy of disregarding ChexSystems entries that are more than 3 years old.

As for the situation with your ex and the old bank account, first get a copy of your ChexSystems consumer record. If the negative information is still there, then I would recommend obtaining copies of the account statements and bad checks from the bank. With proof in hand showing that you did not write the bad checks, try to negotiate with the bank to have them clear your name and credit. If this does not work, I would take the account statements and bad check copies to my local sheriff, district attorney, or county clerk and press charges against the ex for passing bad checks. Be sure to keep copies of everything for your own records! (NOTE: As it has been 5 years, you may be running up against a statute of limitations for filing suit in your state. However, ChexSystems entries are supposed to be removed after 5 years. If you know exactly when was the last activity on the old bank account, it is possible that the information has been, or is about to be removed from your ChexSystems consumer record.) Once you have a legal case file number, you can add an explanatory note, including the case file number, to your credit report at each of the credit bureaus and at ChexSystems. When the matter is finally resolved (ex is charged/convicted and/or is made to pay the amount of the bad checks), you should be able to have your credit report cleared and then you can have the explanatory note removed.

If all else fails, you might want to try They offer access to a list of banks that don't belong to the ChexSystems network and that will open an account for you right away. They also provide assistance in clearing/correcting your ChexSystems consumer report. The website ChexSystem Bites also maintains a directory of banks that do not use ChexSystems. (Links below)

I hope this helps. Good luck to you.

Bruce Said:

Whats is illegal on credit report repair?

We Answered:

It's perfectly legal, although you could do it yourself for only the cost of postage and your time.

Simply put, these repair places improve your score by making your creditors/collection agencies jump through all kinds of hoops to prove you owe this debt. This includes disputes and debt validation mainly.

This flow chart shows roughly what they do.

More often than not, the collection agencies cannot meet the requirements needed, or they simply don't want to bother with it so the listing is deleted.

As far as it being illegal, you will have some people here tell you that disputing a listing you know is valid can be fraud...that is 100% FALSE. You have the RIGHT to dispute ANY listing on your credit report. Your Ad Here

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