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Beware Of Dodgy Promises From Bogus Credit Repair Companies
If you have been approached by a credit repair company or seen advertisements for credit repair services, beware. Debt service providers who charge an upfront fee or ask you to call a premium phone number are often bogus - after all, it is people with poor credit history and debt problems (past or present) who can least afford to pay up front for such services (or the large phone bill). Some so-called credit repair companies act as a 'cover' for a finance broker or lender who wants to sell you a loan. What's more, you can actually improve your credit history without paying for assistance.
Companies that offer you the chance to clean up your poor credit history or restore your credit rating should be approached with caution, especially if they charge an upfront fee or have a premium phone number. You can repair your own credit file without using the services of a credit repair company.
This site provides free step-by-step information about exactly how to repair your credit history, and you can find out what credit information is kept on your file , or discover why you may have been refused credit here.
**Nobody can erase any record of debt. You can request notes be added to your credit file, but cannot remove them.**
As John Bridgeman, Director General of Fair Trading, points out:
"These companies offer nothing that you cannot do for yourself. County court judgments cannot be removed from credit files unless they have been discharged or were incorrectly granted. Unsubstantiated claims that a court summons was not received or that correct procedure was not followed will not persuade a court to remove a judgment from its records. It is possible to check for yourself what is on your files and request that corrections are made if the information is incorrect."
Take Action Yourself
Discover how you can repair your own credit history here.
View the www.dataprotection.gov.uk site to download a booklet called No Credit.
Request a copy of your credit file from the Credit Reference Agencies: Equifax and Experion. If anything on there is incorrect, you can request that it is removed but will need to prove any errors. The Consumer Credit Act 1974 gives you the right to have incorrect information corrected or removed from your file or have a note put on the file which explains why you think the information is wrong.
Request cancellation of a CCJ if you have paid the debt within a month of it being granted. This is the only way to have a judgment cancelled and removed from your credit reference file and court records. However, the history of the debt will probably not be removed from your file, whether it's been paid or not. If you pay off a CCJ after one month of it being granted, you can apply for a 'Certificate of Satisfaction' to be added to your credit reference file.
Credit Repair
Credit Repair: Credit Repair
Credit Repair: Discover How To Repair Your Credit History
Credit Repair: Refused Credit? Discover Why
Credit Repair: The Credit Check
Credit Repair: Credit Information Factfile
Credit Repair: Bereavement or serious illness
Credit Repair: Divorce or separation
Credit Repair: Redundancy or income reduction
Credit Repair: Moving Home
Credit Repair: Leaving Home
Credit Repair: Beware of Dodgy Promises and Bogus Credit Repair Companies
Credit Repair: Sample Credit Repair Letters
Credit Repair: CCJ Removal
Credit Repair: Default Notice removal
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