The Facts and Myths About Credit Repair Companies

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Credit repair companies are a great idea, but there is a lot of misinformation out there. I would like to clear up some of the confusion and myths that are out there.

Myth: You should be able to get credit repair for a small fee.

Credit Repair Companies

Fact: The vast majority of credit repair companies do not even have a small fee. It is more like an upfront fee, but it is all included in the price of the credit repair.

Myth: I don’t need credit repair because I have a good credit history.

Fact: Credit repair is a must for anyone that is dealing with debt problems. It is like putting a new engine in your car. You won’t see any benefits if you don’t do it.

Myth: Credit repair companies are just scammers.

Fact: The vast majority of credit repair companies are legitimate. A credit repair company is a company that has a staff that is trained to do credit repair for you. They are not in it to make a profit by scamming you.

Myth: I am going to be sued if I sign up with a credit repair company.

Fact: The vast majority of software for credit repair companies do not sue you. If they did, they would lose their business license. The only companies that sue are the ones that have no staff or are trying to scam you.

Myth: I don’t need to be sued if I sign up with a credit repair company.

Fact: If you are suing a credit repair company, they have the right to sue you back. They can sue you for damages and you will probably have to pay their attorney’s fees.

Myth: I will have to pay the credit repair company to do the work.

Fact: Credit repair companies are the only companies that do this work.

Myth: I have to pay for the work.

Fact: The credit repair companies charge an upfront fee, but they do not charge you for the work.

Myth: Credit repair companies only help those that have bad credit.

Fact: The vast majority of credit repair companies can help anyone with any kind of credit problem. They don’t care what your credit score is.

Myth: I don’t need credit repair because I have a low credit score.

Fact: If you don’t have credit repair, you are going to have a hard time getting a loan or credit card. If you have a low credit score, it will be a long time before you can get a loan or a credit card.

Myth: Credit repair companies are scams.

Fact: The vast majority of credit repair companies are legitimate.

Myth: I can’t do my own credit repair.

Fact: Most people are not aware of all the ways that their credit report can be fixed. The majority of people do not even realize that they have credit repair problems until they have an issue with a loan or a credit card.

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