Credit repair contains an impressively negative connotation. It is open to a great deal of scams and it is one of the most investigated financial industries. As a consequence of such problems a law was passed governing credit advancement entities, the Credit-Repair-Organizations-Act (CROA). In part the law states:

The Congress makes the following findings:

The credit rating of yours is perhaps the most crucial part of the private finance of yours, therefore it's not surprising that individuals are turning to credit repair companies, especially in the current economic climate. Instead of facing extortionate premiums as well as interest on mortgages as well as other financial services, many people are deciding to repair bad acknowledgement with the help of a credit repair business. A credit repair company can help you turn the financial fortunes of yours around and work towards the lifestyle you've always wanted.

The promise is incredibly enticing, particularly for someone desperate for credit restoration. This is the promise of free credit repair. Pick up any publication and chances are you'll see a number of ads with an equivalent promise. But do they really really help you?

Credit repair is the method of getting the credit bureau report of yours corrected when it shows negative information or any discrepancies, so that you can get an exact and highest possible rating. It offers an opportunity to the debtor, and that is you, to start afresh, when faced with an overwhelming debt situation.