Credit Repair Thoughts

Alongside a number of Google Knol pages created to promote various credit repair services, there have been a handful of knol pages that are very good resources for someone looking to learn more about what credit repair is.

Aside from a biased perspective on using credit repair companies, the knol titled How Can You Repair Your Credit? by Maggie Brazeau is a good overview of the steps you can take to repair your credit. The majority of her suggestions have to do with managing debt moving forward. Unfortunately, only one paragraph is devoted to disputing negative credit which for many people has the largest and most immediate impact on their credit score.

continue reading “A Great Overview of Credit Repair…That Could Use Your Help” »

A new site (www.creditrepairreviews.net) has popped up in recent days claiming to be the only credit repair review site that is not affiliated with any credit repair companies and as such is the only source for completely unbiased reviews of the top credit repair companies. The site proclaims MyCreditGroup as the best credit repair company with not a single other credit repair company even coming close to this title. According to this site, there is essentially one credit repair company that is even worth considering. All the other competitors are second tier at best.

The extreme bias of the reviews, especially considering there is no mention of any personal experience dealing with any of these companies, was the first thing that caught our attention. It seemed strange that a site without bias could appear to be so biased.

continue reading “The Only Non-Affiliated, Non-Bias Credit Repair Review Site? Not Exactly.” »

There are few topics as polarizing as credit repair. Depending on who you talk to, credit repair is usually thought of as impossible, illegal, something you can only do yourself, or something you need professional help to perform. Rarely do you find someone with a perspective on credit repair that is not at the far end of one of these extremes.

The fascinating thing is that in most cases, whatever people believe to be true will be true for them.

The poster on the Yahoo! Answers forum who states that “there is NO SUCH thing as Credit Repair….it’s a scam….” will never realize any benefits from repairing their own credit. By believing that credit repair is impossible, they are fulfilling their own prophecy by ignoring their rights to dispute their own credit. By not believing it can be done, they are proving their own point. This person, and every other person who ignores the possibility of credit repair, will fall into the category of people whose credit scores will only improve through the passage of time.

continue reading “Whether or Not You Believe Credit Repair Works, You are Correct” »

The FTC provides a list of warning signs to help you detect a credit repair scam such as avoiding companies that suggest that you try to invent a new identity or recommend that you not contact a credit reporting company directly.

These guidelines are a decent, albeit biased starting point as you begin shopping for a credit repair service, but they are only designed to help keep you from becoming a victim of a credit repair scam. What they do not do is help you find a good credit repair company.

Choosing a credit repair company is a big decision. Choosing the wrong company could cost you hundreds or even thousands of dollars, and if they are not successful, you have delayed your goal of a good credit score by months or even years. And if that wasn’t enough, using a fraudulent credit repair service could even get you in legal trouble.

continue reading “What to Look for When Shopping for a Credit Repair Service” »

Every few years the FTC takes a look at the various companies within the credit repair industry and shuts down those that are operating outside of the law (see Project Credit Despair). Judging by the number of companies out there who have crossed the line from playing by the rules to being openly non-compliant, the FTC is due for another shakedown.

Champion Credit Consulting (www.permanentcreditrepair.com) is the latest example of a credit repair company that is just begging to get shut down. In fact, their site is so over the top bad, we wouldn’t be surprised if their entire “too good to be true” business is designed to sucker people into dropping $1,500 for credit repair and then disappearing entirely.

To illustrate why Champion Credit will likely be shut down and why you should definitely avoid this service, we’ll use the same tactic that we used in a previous post when explaining why we advise against New Day Credit Consultants. Only this time, we’ll start with the more entertaining process of ripping apart the business as a whole and then move to talking about how Champion Credit Consulting is actually breaking the law.

continue reading “How Long Until Champion Credit Consulting Disappears?” »