Having good credit is critical when you borrow money, rent a place to live, buy car insurance – sometimes even apply for a job. So when you see ads baiting you with a quick “credit repair” fix, it’s hard not to bite. Maybe that’s why a Bing search for “Credit Repair” returns more than 40 million entries.
The logic behind paying for credit repair seems sound: If your car, refrigerator, or practically anything else breaks, you have a professional fix it. Shouldn’t the same logic apply to repairing your credit?
In a word, no.
Money Talks News founder Stacy Johnson explains some of the tricks unscrupulous credit repair agencies use in this video.