Can Credit Doctors Really Work?

A couple of years ago right before Thanksgiving one of my checking accounts was frozen by my bank, Chase. No notice, no questions asked. Turns out, a collection agency told the bank that they had a claim against me-which turned out not to be the case. Despite the fact that Chase knew the claim was not correct they could/would not remove it until their legal department cleared it. I ended up having to get an attorney to clear up the mess and sue the collection agency-which we won. The whole experience was a complete pain!

Had I know about this before I could have cleared it up immediately. However, there are instances where many individuals are using credit repair services-some who promise to remove negative credit information-they don’t work! If the information is in fact correct it will stay on your credit report for a minimum of 7 years, If in fact, it wasn’t correct as in my case, they could clear that up-but so could I.

If you find yourself in a current situation where you have diligences-work on your most current deliquency first. The thinking is that creditors want evidence of recent, responsible credit management to raise your FICO score. Don’t waste your money on those who claim they can remove negative credit information that you know is correct. Here is a supporting article on Credit Repair.

Steve Mertz
Credit Repair Scams are Costly!

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