It’s no secret that living through the pandemic has caused many of us to have to deal with financial hardships. Closed businesses have meant lost jobs, and lost jobs can mean missed payments. Identity theft is also a real and ongoing threat. With these and many other factors in play, it can be difficult to maintain a good credit score. And yet, we all depend on good credit when we make some of the most important financial decisions of our lives, from buying a car, to buying a home, to starting a business.
If financial hardships have lowered your credit score, there are many ways to improve your credit. Depending on the severity of your credit situation, you may have considered working with a credit repair company.
You can't remove legitimate claims on your credit report; you can only remove errors.
But here's a warning: No credit repair company can "erase bad credit forever," so don't fall for that compelling hook. You can't remove legitimate claims on your credit report; you can only remove errors. Plenty of credit repair scams exist. That means you could end up paying thousands of dollars (which you most likely don't have to spare) only to see no significant increase in your credit score.
That's why our friends at Money.com put together a comprehensive guide to help you navigate credit repair and separate the scams from the credit repair companies that are legitimate and helpful.
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