Credit Repair: Self-Help May Be Best

• Reasons to repair your credit on your own. You see the advertisements in newspapers, on TV, and on the Internet. You hear them on the radio. You get fliers in the mail. You may even get calls from telemarketers offering credit repair services.

Credit Reports

• What can and can't be done to your credit report. There's a brisk business among so-called "credit repair" companies that charge from $50 to more than $1,000 to "fix" your credit report. In many cases, these outfits take your money and do little or nothing to improve your credit report.

We Want You To Know...

• Why credit bureaus don't want you to repair your credit. The three major credit reporting agencies, also called Consumer Reporting Agencies (CRA's) are NOT government agencies, they are for profit, multi-million dollar corporations that gather and sell your private personal information, to creditors, insurers, employers, landlords, and companies that solicit you
  for credit and insurance offers.

Your Debts and Debt Collectors

• Your rights when it comes to debts and debt collectors. You are responsible for your debts. If you fall behind in paying your creditors or an error is made on your account, you may be contacted by a "debt collector." A debt collector is any person, other than the creditor, who
  regularly collects debts owed to others.

Fair Credit Reporting Act

• Rights you have if you are refused credit. If you have been refused credit, you should be aware of your rights under the Federal Trade Commission's Fair Credit Reporting Act. This federal law regulates the reporting of information by credit bureaus and protects you against the circulation of incorrect or obsolete information.