Is Credit Repair really effective and how much would you pay for it if it is?

A good credit report is very important for living a comfortable life of financial freedom but it's difficult to recover fom a bad credit report once you've made a few mistakes. Credit repair companies can be helpful, especially if you allow some time for your file to be worked on before you need it completely done.

Public Comments

1. It is very effective, yes...for the short term. If you plan on buying something expensive on credit, like a car or house, it will help you tremendously, but if you do it just to clean it up, forget it. Why, you ask? Because even though it will remove it for as long as a year, after that time the agencies that initially reported you will update their information on you, at which time...guess what? Your credit is bad again!
2. NO... Order your credit Bureaus yourself for free from www.AnnualCreditReport.com you can dispute incorrect items on the bureau directly through the credit reporting agencies yourself. There is no one you can pay to remove items from your credit reports. These companies usually over charge and under perform. You will get better results disputing items yourself. in most cases items must be removed because the companies which reported the items does not respond in the time limits required. read the Fair and Accurate Credit Reporting Act.
3. Why pay a Credit Repair Company to help you repair your credit when you can do it yourself? All you have to do is get your credit report, figure out how much debt your in, get a part time job and use your paychecks to pay off your debt. Its free doing it that way and you know where your money is going. It may take a while depending on how much you owe but its worth it in the end.
4. Nearly 100% of credit repair companies are scams. They promise to erase negative items from your credit report by using computers to repeatedly contest items on your report. The three bureaus have similar computers to respond to junk requests. Save yourself hundreds of dollars and just live with your low score for a few years until it improves.