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Bankruptcy is a process...Not the end.

Attleboro Credit Repair Lawyer

Providence Credit Rehabilitation Attorney

Credit repair and credit rehabilitation are two very different things. Credit repair is a scam and it is illegal. Any company that offers to “clean your credit” is dishonest. These companies either take your money and do not improve your credit, or engage in illegal practices such as creating a false credit report or multiple credit reports, submitting a false Social Security Number, and using fraudulent information on the credit report. Some signs that a company is a scam are:

  • If the company makes you pay before they begin or finish the service. Credit repair companies are not legally allowed to charge before the services are completed.
  • If the company does not inform you of the free credit report site, www.annualcreditreport.com. Credit check and credit repair companies are legally obligated to inform you of this.
  • If the company claims it can clean your credit or remove accurate negative information.
  • If the company claims you can create a new credit identity.

Credit rehabilitation, on the other hand, is the process by which you earn good credit through responsible spending and timely payments. It can also involve removing inaccurate information from your credit report. With successful credit rehabilitation, you have fewer barriers to owning a home, leasing a car, and finding employment. If you budget well and make all of your payments on time and in full, you may be able to have A-credit in as little as 2 years.

Credit rehabilitation is simple, though it can be difficult. You have to create a budget that fits your income, and then alter your spending habits so that they stay within your budget. Within a few years, you can not only have better credit, but you can also be relieved of the constant stress of having debts you cannot pay.

For more information about credit repair and credit rehabilitation, contact a Massachusetts and Rhode Island Bankruptcy Attorney.