Archive for March, 2010

Repair Your Credit for Free With Help From

Sunday, March 7th, 2010

Credit repair companies are coming under fire from the Federal Trade Commission – as well they should.

These companies, such as Chicago-based Advantage Credit Repair, have been charged with two violations. The first is a false promise to remove true and accurate information from consumer’s credit reports. The second is an advertised promise of no fee up front when in fact they charge over $200 up front.

The truth is, credit Repair companies cannot remove accurate, current information. To promise to do so is a blatantly false claim, designed to lure hopeful consumers into paying for a service which will not be rendered.

As for the up-front fee – consumers responding to a “no fee without results” advertisement who are asked to pay in advance should see the request for payment as a huge, waving red flat. Unfortunately, many have fallen for whatever explanation was given for the up-front fee and have paid for service they didn’t get.

Another truth is that consumers don’t need credit repair companies to perform the services that actually can result in better reports with higher scores.

As a mortgage loan broker, Mike Clover has helped countless clients increase their credit scores in order to get a loan. And he’s done so for FREE.

Their success led him to write an article in 2008 that explained the steps consumers need to take in order to repair their own credit. As a result, he’s received dozens of “thank you” emails from all over the U.S. from consumers who successfully used the information. Those who did what he recommended are now happy homeowners.

Now, with tighter loan requirements, increasing your credit score is more important than ever. Low scores will result in being denied loans or credit cards – or in loans and credit cards with high interest rates. And while mortgage loan rates are low right now, credit card rates are going through the ceiling. Those with low credit scores are paying as high as 39% interest!

Not only that, with the job market in shambles and dozens of applicants for every position, employers are using low credit scores to eliminate candidates for employment.

The first step is, of course, to know what your scores really are. That is easily accomplished by taking advantage of one of the free credit report offers at

Many consumers are shocked to find low scores in spite of their diligence in paying every bill on time. Their low scores could actually be caused by non-use of the credit available to them, or to putting their entire credit card debt on one card rather than spreading it out.

These and many other topics regarding the wise use of credit are covered in the articles at Check them out today and learn how to manage your credit to your best advantage. your resource for Credit News.