Why Almost All Credit Repair Companies are Useless

You can't do a search for "credit repair" without coming across scores of listings of credit repair companies or guides to magically repair your credit. Almost all of these companies are trying to take advantage of the requirement in the Fair Credit Reporting Act that inaccurate, outdated or unverifiable information must be removed within 30 days if it cannot be verified. The basic strategy here is to swamp the credit bureaus with letters and "hope" somebody in the paper supply chain misses this deadline. In the beginning this questionable method may have had some merit but the credit bureas have adapted and can verify debt in a matter of days. Worse, once a debt or negative item has been verified, it becomes harder to remove. Blindly questioning every negative item in your credit report with form letters is simply no longer productive and is in fact, a waste of time and money.

Does this mean credit repair is pointless? Absolutely not. You just need a more balanced approach coupled with a gameplan. The FCRA protects you against inaccurate information. Date of last activity, inaccurate balances, basically any error can be used as an argument for removal. If you are serious about credit repair you need a firm that will do exactly this for you. Go over every detail of your credit report and find errors that can be used to your advantage. Over 73% of americans have inaccuracies in their credit files which is to say 73% of americans can have better credit scores.

One of the only firms I've found that takes this approach and has no complaint with the BBB in over a decade is MyCreditGroup.com | Credit Repair Services. Founded in 2000 My Credit Group Inc. is a San Diego based Credit Report Repair & Consulting Company. Backed by an aggressive - independent legal council and an impeccable BBB track record, My Credit Group Inc. is widely recognized as a leading voice for consumers, and serves as a news hub for the credit report repair industry.