A credit repair firm sent me an offer outlining their credit repair program. Should I enroll?
Answer: Credit repair companies often promise to help you remove bad information from your credit report for a fee that you pay to them. Before enrolling, know your rights – as well as what credit repair companies can and cannot do for you.
Before you enroll with a credit repair firm, consider two very important facts:
- Disputing errors in your credit reports is a free legal right available to you under the Fair Credit Reporting Act; you don’t need to pay a credit repair organization to do it for you.
- You cannot remove accurate and current negative information from your credit report. Beware of anyone who claims that they can remove information from your credit report that’s accurate, current and negative. No one can do that.
Many credit repair ads make promises that don’t measure up. Before signing up for these services, find out how to spot a credit repair scam.
- If you have a problem with credit reporting, you can submit a complaint with the CFPB online or via phone at 855-411-2372. You can also submit a dispute letter to either a furnishing company or a credit reporting company via one of our templates.
We’ll forward your issue to the company, give you a tracking number, and keep you updated on the status of your complaint.