How to Raise Your Credit Score Myths: Fix My Credit Report Kits

Myth: I can buy a kit to clean up my credit, and all my past problems will be washed away.

Truth: Only inaccuracies can be cleaned from credit reports, so these kits are scams.

Nothing can be taken off your report unless the item is inaccurate. The Federal Fair Credit Reporting Act dictates how consumers and creditors interact with the credit bureaus. Bad credit drops off your credit report after seven years. If you have a Chapter 7 bankruptcy, it will stay there for ten years.

If you have an error to be corrected, take care of that yourself. Accurate bad credit stays on your report unless you lie. But lying for the purpose of getting money is a fraud, and you should NOT do it.

Credit-repair companies are mostly scams. The Federal Trade Commission regularly closes down these fraudulent operations. Some repair kits will tell you to dispute all bad credit and demand to have it removed, even if the item is reported accurately. Some kits even suggest you get a second identity and a new Social Security number. Do not fall a victim to such scams!

If you get a new identity, you get a brand-new credit report and lenders will not be able to find out about your past bad record. However, this is a fraud, and if you do this, you may go to jail.
Work on cleaning your credit report and improving your relationship with money. Over time your credit report will clean itself.