Credit Repair

Many for-fee credit repair organizations also exist. These organizations employ less standard solutions.

Many websites recommend against using credit-repair organizations, claiming that their tactics are illegal. A typical example of an illegal credit repair approach is to obtain an Employee Identification Number (EIN) and use this when applying for a credit (it is the same length as a Social Security Number and is tied to your name in the same way). This is illegal however and a blank credit report might look just as bad as one with a derogatory item on it. Some credit repair organizations claim immense improvements in scores in very short periods of time. Costs may be high and results are not usually guaranteed.

Do it yourself. Check credit reports for accuracy. Pay your bills on time. Clean up derogatory statements on credit reports. Decrease credit capacity used. Establish credit history. Limit credit inquiries.