Late night television and the Internet is full of advertisements for companies promising to remove bankruptcies, judgments and other negative information from credit reports. Sometimes they even offer to help you create an entirely new credit identity. These promotions need to be approached cautiously though. In truth, no one can remove negative information from your credit report if it's accurate. And some of the tactics suggested by credit repair companies are illegal or ineffective, such as applying for an Employer Identification Number under false pretenses or disputing every credit report entry even if they're accurate. The Credit Repair Organizations Act prohibits companies from charfing a fee for their services before they've completed the services they promised and many of the strategies offered can be done yourself for free. The Federal Trade Commission warns consumers to avoid credit repair companies that promise to eliminate accurate but negative information and tell you not to contact the credit bureaus directly.
If you've identified false entries on your credit report there are procedures for disputing the entries and perhaps obtaining damages from both the credit bureau and furnisher of the information. Contact us at www.thompsonlawoffice.net if you have inaccurate information on your credit report that has caused actual damages.
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