Credit repair companies have been around for many years. A quick check of the Internet reveals that there are a number of choices. In fact, there is now a web site that rates the top ten credit repair companies in the country and you can even buy a franchise to start your own CR company. So it brings up an important question. What do these companies actually do to repair your credit and what are you actually paying for? In other words, what do they know about fixing your credit that you don’t?
On November 3, 2015 I published a log and referred to a former client of mine whose credit was ruined when he purchased items with his credit card and had to return them. He contacted the credit card company by phone and asked them to rescind the charges which they neglected do. When he subsequently refused to pay the charges the credit card company posted his account on his credit report as delinquent. His credit was then ruined and he spent months trying to correct the problem.