Nearly six years after we’ve begun repairing consumer’s credit here at Veracity – multitudes of consumers and credit experts are jumping on the credit repair bandwagon, such as Diana Golobay at HousingWire.com, who wrote “Wrecked Credit? No Problem!”:

http://www.housingwire.com/2009/06/16/wrecked-credit-no-problem/

Veracity Credit Consultants likes Ms. Golobay’s enthusiasm for credit repair. She’s got a point that, when it comes to obtaining an auto loan (or a home mortgage), credit repair can lead to better rates, saving you, the consumer, thousands of dollars.

Unfortunately, like many consumers, it appears that Ms. Golobay might be the victim of some less-than-reputable claims. You see, the credit repair agency she speaks of claims that it takes:

“two to four months to clean up a credit report, although the $500 service lasts for a full year, according to company statements.”

Furthermore, Ms. Golobay also writes:

Typical issues Credit Rewind sees in troubled credit include charge-offs, foreclosures, bankruptcy, repossession and “slow pays.” The company touts its service as an utterly legal way to erase those marks from credit scores…

First off, any company that claims to remove bankruptcy legally is not telling you the truth. Why? Because it’s against the law and cannot happen. Bankruptcy is a public record, and public records have scores of information and records linking a person to their bankruptcy.

Bankruptcies are difficult situations, to be sure, but the only thing that can erase a bankruptcy from a credit report is time – typically seven to 10 years. The exception to this rule is if the bankruptcy is an error, often resulting from a merged report or mistaken reporting or identity.

At Veracity, we suggest you be wary of such claims of “erasing bankruptcy,” and if you have one, work on other areas of your credit and wait it out.

Furthermore, Veracity doesn’t put a time line on helping a consumer repair their credit. There are several reasons, including a person’s unique credit situation, along with laws that allow bureaus and creditors 30 days just to respond to disputes, that make “two to four months” difficult to achieve. At Veracity, most of our clients stay with us for six months, at least, and up to one full year to achieve optimal results. And our basic service, plus one-time lifetime membership fee, equals just more than $500 for a full year, yet our clients can cancel anytime free of charge.

Ms. Golobay wraps up her synopsis with this statement:

The emergence of this trend where credit is not an issue and any scratch, dent or crater in credit history is only a small fee away from deletion illustrates an alarming view that consumers deserve the loan they want today no matter how badly they performed on a credit card yesterday.

Veracity feels that might be over-simplifying the matter some. Remember that we suggest always paying your bills on time as the first way to maintaining your credit.

More importantly, we hope consumers realize that repairing credit just isn’t as easy as some people would lead you to believe and that it takes time and perseverance. And under no circumstances would Veracity ever claim that “any scratch, dent or crater in credit history is only a small fee away from deletion.” Legitimate debt and public records cannot just be erased. At Veracity, we never encourage our clients to dodge legitimate debt.

If credit repair is now starting to seem a little more difficult than some people make it out to be, that’s because it is. However, a good, credible credit repair service can take a lot of the hassle out of the process. If you want to know how, call Veracity today at 1.866.518.2194 for a free consultation.