Do credit repair programs really work?

I came across some programs offered by, ex-bankers, ex-credit bureau agents that offer tactics and software that enable you to repair your credit. They claim to be able to create a new credit file. Anyone know if they work? What happens to your old credit file?

Public Comments

1. These are generally scams. They ask for money up front and they don't do much. They can't give you a new credit file or "erase" anything.
2. 99% it will not work
3. To be frank, they cannot do anything that you cant do on your own. The best thing would be to read the following articles and gain an insight: Debt Consolidation - Get Out Of Debt http://www.askaquery.com/Answers/qn1643.html How to Hire a Debt Counselor? http://www.askaquery.com/Answers/qn1584.html What is Debt Relief? http://www.askaquery.com/Answers/qn1583.html Debt Management and Building Wealth http://www.askaquery.com/Answers/qn1581 How to lower your debts? http://www.askaquery.com/Answers/qn1576.html How to reduce debt : How to lower your expenses? http://www.askaquery.com/Answers/qn1577.html Building Wealth by Reducing Debt http://www.askaquery.com/Answers/qn1578.html How to Manage Your Credit Card Debt? http://www.askaquery.com/Answers/qn1579.html
4. The way they 'create' a new credit file is typically by creating some variety of fraudulent identity. Then they will take your money and run leaving you with federal charges. A lot of these illegal services can be identified when they ask for money up front which is illegal (see the ftc link). One credit service I know and trust is National Consumer Credit Service ( http://www.nationalccs.com/ ) They offer a pay for performance option so that you only pay for items they are able to remove or improve on your credit report. In addition they have a great Q&A section on credit and credit repair subjects. http://www.nationalccs.com/questions-faq.html