Attorney General: How to Spot Credit Repair Scams and Correct Your Credit History Yourself

How to Spot Credit Repair Scams
And Correct Your Credit History Yourself

Presented as a Public Service by:
Federal Trade Commission, Connecticut Attorney General


"Credit Problems? No Problem!"
"Erase Bad Credit! 100% Guaranteed!"
"Remove Bankruptcy and Liens From Your Credit File!

If you're looking for a way out of your credit problems,
don't believe promises like these!

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. Often, they just vanish.

There are no quick or easy cures for a poor credit history. If a credit repair company promises you it can clean up your credit report, remember the following:

  • your credit history is maintained by private companies called credit bureaus that collect information reported to them by banks, mortgage companies, department stores, and other creditors;
  • these credit bureaus can legally report accurate negative credit information for seven years and bankruptcy information for ten years;
  • accurate items that are within the seven (or ten) year reporting period cannot be erased from your credit record by companies advertising "credit repair" services;
  • if you have a poor credit history - even if your past problems were due to illness or unemployment - time is the only thing that will heal your credit report;
  • the only information in your credit report that can be changed are items that are actually wrong or beyond the seven (or ten) year reporting period;
  • if there are genuine mistakes or outdated items in your report, you can fix them yourself.
In fact, you can do anything a credit repair company can do
for free or for only a few dollars.

For more information on credit repair fraud:

For more information:

Federal Trade Commission Home Page

Content Last Modified on 4/9/2012 11:07:05 AM