How do I know that Credit Report Repair isn't a Scam?

Credit repair is legal. In fact, it is governed and sanctioned by federal law. Disputing negative, inaccurate, and/or misleading items on your credit reports is your right as a consumer. The extension of this right to use a credit repair company is also legal. You can seek professional services to repair your car, and similarly, you can hire an experienced credit repair company to help correct errors on your credit reports.

While the credit bureaus and lenders may prefer offering artificially high interest rates on credit cards, home mortgages, and other loans, you have the power to enforce your data's accuracy under federal law. Whether you try on your own, or hire a credit repair company to act on your behalf, you can demand that the credit bureaus correct errors and remove false, inaccurate, or misleading data.

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Credit Repair FAQ - The Rest of the Story...

Of course, while it is legal to use a credit repair company, scams will always exist in all businesses. It pays to do your homework before you enroll with a credit repair company. Questions such as clients served, time in business, the company's BBB standing, and compliance with FTC guidelines and relevant governing laws such as the FCRA and CROA, is recommended.

For example, Veracity has been repairing credit reports since 2003, is in good standing with the BBB, and is actively involved in promoting and legitimizing the credit repair marketplace. Many thousands of clients have been fully satisfied with Veracity's credit repair services, and nearly all have seen improvements to their credit reports. Veracity's credit repair specialists have encountered and successfully engaged most credit problems imaginable - and the majority of new clients come to Veracity based on referrals.

As for the problem of credit repair scams... it's no worse than any other growing industry. CROs got a few black eyes when new legislation was interpreted in the 1990s, but lawsuits and complaints have been fairly isolated. Veracity is constantly reviewing policies and procedures, and takes a proactive compliance approach.

Credit repair is a service industry, and one that has grown steadily as credit scores and credit reports are increasingly the most important and checked elements of a consumer's financial life. Real-time reporting and a nation of "anywhere anytime" Internet and computer access means that today, your credit reports may be pulled to influence everything from your job application to obtaining basic utilities - not to mention credit scores being used for qualification of nearly all home mortgage loans, vehicle financing, and credit cards.

While it is true that consumers can read a brochure and subsequently try to fix errors or inaccuracies on their credit reports, the "do it yourself" method can be extremely challenging, frustrating, and expensive in terms of time and materials required. For fast credit repair results, a professional credit repair company is often more effective. It makes common sense. Any established credit repair company with thousands of clients and a large staff has invested heavily in streamlining the dispute and repair process, training personnel, and has built relationships and used collective result data to determine what works best to quickly resolve common credit report problems.

Whether you choose to pay for credit repair services is entirely up to you. Veracity encourages and assists consumers trying the "do it yourself" route, but we also offer an affordable interface for consumers who do not have the time or experience to properly engage the system used to request investigations into incorrect data records.