Should I Use A "Credit Repair Clinic"?

No.

There are a couple of reasons to avoid credit repair clinics.
First, you don't need them. If information on your credit file is inaccurate, you can easily challenge it yourself by writing a letter. Also, these companies typically advise you to pay your debts on the condition the negative information is removed from your file - but you don't need a credit repair company to tell you that.

The second is industry sleaze. In some extreme cases, these companies resort to illegal or abusive tactics like identity fraud to help their clients. As a result, the Federal Trade Commission hates credit repair companies. In an interview with Bankrate.com the FTC's Jodie Bernstein said they'd never come across a legitimate credit repair company.

So, if you can't use a credit repair clinic, what should you do?

Well, bankrate.com has solid pointers for getting started. Also, the FTC has a good list of "Must Do Questions" if you really need help hiring a credit repair outfit. As an absolute last resort there is always bankruptcy.

Thanks,

James