Is credit repair a legit site?

However, there are also a lot of scams that you should be aware of. A better path might be to simply take steps to repair your credit on your own. Many of these companies offer legitimate credit repair services, but unfortunately, many more are essentially a scam. The goal of these companies is to increase their credit by challenging outdated or incorrect information in their credit reports, tracking results, and monitoring to ensure that errors don't recur.

Commercial credit bureaus often send you warning notifications when a derogatory rating is about to be added to your credit report. As with personal credit, you can pay a credit repair company to clean up your business credit, or you can do it yourself. The website operates on the principle that credit bureaus should be able to verify harmful elements in your credit history. It's worth noting that even the most reputable and trusted credit repair services can't legally do anything you can't do yourself.

The repair business also provides TransUnion credit monitoring, as well as email and text message alerts to all members. That said, it's important to know that most other companies within the credit repair industry also have limitations on the number of states they can serve. There are legitimate companies that provide credit repair services, but the field is also known for scams, so it's important to investigate any company you're considering hiring. This can happen when creditors report misinformation to the credit bureau or if an identity thief requests credit in the consumer's name.

This plan includes credit monitoring, identity theft protection, monthly credit score analysis, and a variety of personal finance tools. While legitimate credit repair companies can do what they promise, the field is rife with scammers. By law, you are entitled to a free credit report every 12 months from each of the three major national credit bureaus Equifax, Experian and TransUnion. Keep in mind that there's nothing a credit repair company can do for you that you can't do on your own.