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Credit Repair Is a Lie

The companies being pursued by the FTC are charged with violating the Credit Repair Organizations Actby misrepresenting the services they’re providing and failing to provide contracts and proper disclosures. Consumers need to eye any offers to repair credit very carefully. If your credit report contains inaccuracies, they can be removed without paying thousands of dollars to a credit repair company. There is no silver bullet when it comes to credit scores and credit report information: The only thing that fixes legitimate negative information is time and better behavior in the future.

Tracy Coenenis an On The Money contributor, fraud investigator and forensic accountant, and the author of Essentials of Corporate Fraud.