Here’s Why You Should Stay Away From Credit Repair Companies | News

If not paying your bills has hurt your credit score, you may be looking for help.

Better Call Harry names a company you want to avoid, especially when you find out where they do business.

An apartment complex on Peachtree Valley Road in Atlanta sounds like a great place to live. But that’s not exactly where you’d expect to find a company, especially one promising to rebuild your credit.

The Better Business Bureau said this complex is home to Excellent Credit Builders, LLC. They have a Facebook page for the business, but there wasn’t much on it. There was also no website, which is a red flag.

But Atlanta’s BBB’s Mike Boynton said that omission hasn’t stopped the company from going after consumers in need.

“They might place ads and a phone number and desperate consumers, if they see any hope or an opportunity to improve their credit rating, they’re going to respond to an ad, an email, a direct mail,” a he declared.

The BBB says consumers paid an initial $500 fee to Excellent Credit Builders, but never received the credit repair work promised by the company. This earned the company a big “F” from the BBB.

The Georgia Dept. of Law states that most credit repair companies are illegal. The reality is that there are really only three places to go to fix your credit: the credit unions themselves, Experian and Transunion, and yes, the now infamous Equifax.

They are the ones who can remove inaccurate information from your credit report. Then it’s time for you to do some homework, because only you can fix your bad credit.

“It may take years,” Boynton said. “It takes a good payment plan to improve credit scores.”

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