There are many credit repair myths that keep people from attempting to clear their credit history of negative items that are dragging their FICO scores down.

This article will help to clear up some of the more popular credit repair myths and give you a better understand the truth about cleaning up your credit report and increasing your FICO score.

Myth: It Does Not Work

Fact: Nothing is further from the truth, not only is it very possible to dispute and have negative items removed from your report.And when done correctly it can be done in as little as 30-45 days.

Myth: It is Illegal

Fact: As long as you are not trying to create a new identity fixing your credit is not illegal. In fact under the fair credit reporting act you have the legal right to dispute anything that is on your report.

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When it comes to the topic of fixing credit there a ton of credit repair myths which scare a large number of people off and keep them from trying to clean up any negative records on their credit reports that are keeping their FICO scores low.

The article below was written to help people learn the facts about the common credit repair myths and help them be a little more clear when it comes to cleaning their own credit.

Myth: It Is Ineffective

Fact: When it is done properly credit repair is very effective at removing negative items from your report and also boosting your FICO scores a good amount.

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Credit cards are great, aren’t they? They give so much flexibility and allow you to buy things even when you don’t have the available cash. The more you spend, the higher they raise your limit. The more cards you have, the more offers you get from other companies. Spend, spend, spend without a care in the world.

Until one day you realize that you’ve spent too much. The monthly credit card bills have arrived and you don’t know how you’re going to pay them all. Even by paying the minimum amount due, you won’t bring your debt down by much, because you’re only paying off interest and not really touching the underlying balance. What do you do?

The first thing you need to do is take stock of the situation. Don’t just push the bills aside and say you’ll deal with them later; that’s not going to solve the problem and will likely make it worse.

First things first - stop using your credit cards! You’ll never get them paid off if you keep on using them. Whatever it is you wanted to buy can wait until you’re out from under that mountain of paper you’ve created.

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