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Latest Consumer News

Credit Repair

What is credit repair?

Credit repair simply refers to getting your bad credit removed. You may think how this can be done. Everyday you might be reading advertisements in the many British newspapers from companies starting that they can remove your bad credit for you. You might also be getting a lot of advertisement emails regarding the same. You should never trust these companies and treat all advertisements as scam. In fact you can do credit repair by yourself by following the tips mentioned below.

Avoid scams

The first and foremost tip is to avoid any scam regarding advertisements that state that the companies can clean up your credit report by charging a nominal fee from you. The truth is that these companies wont be able to do the job. After you pay hundreds or even thousands of pounds to get a clear credit report, you may find out one day that the companies have simply disappeared taking your money with them. Beware of companies that claim they will get your credit report cleared after you pay them the necessary charges. Beware of companies that do not mention your legal rights to you and also do not provide you with any information on what you can do for yourself. Last but not the least you should be careful of those companies that advise you to dispute all information in your credit report or taken action which is illegal like creating a new credit identity. Chances are that you may fall in trouble with the credit card company or even the law later on.

Charges for providing false information

In the UK you could be charged or prosecuted for email or wire fraud if you use the mail of the telephone for a credit application and then give false information to the company. It is a crime to give false details on your Social Security Number and also your loan and credit information.

Credit Repairing

Let's discuss further on how you can do credit repair. First of all do tell the consumer company in writing what you think is incorrect in your credit report. State all the items of dispute in your letter to the company. Do not forget to enclose a copy of the credit report with the items of dispute circled in red. The consumer reporting companies will investigate the case and then get back to you within 30 days. The consumer reporting company will give you the results in writing after a thorough investigation. You can have a corrected copy of your report sent to your residence. 

Also tell the creditor or other information provider in writing that you dispute an item. Do not forget to attach copies of the documents that verify your claim. However in case the negative information on your report is accurate you have to accept the results and move on. Only passage of a considerable amount of time will assure its removal. Try to be careful in the future and not to repeat the same mistakes that you made in the past. A consumer reporting company can report most accurate negative information for as many as 7 years and any bankruptcy information for 10 years. However there is normally no time limit on reporting negative information like information about criminal convictions, etc.


Hence from the above discussion we conclude that negative credit report can only be removed with the passage of time and paying all your bills promptly and on time in the future, so as not to get any negative reports in the future. Do not ever go for any illegal way or shortcuts for your credit repair as you may fall in further trouble with the companies and also the law. Hence even one chance that you get fro credit repair maybe lost.



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