Home > Consumer Resources > Subject of Your Inquiry

Credit Repair

The only way to rehabilitate a poor credit history is to establish a track record of paying bills and credit obligations on time. A credit history cannot be changed unless the information is erroneous. Any company that tells you that, for a fee, they can change a poor credit history into a sound credit history should be avoided.

The process of credit "rehabilitation" takes time, but it does not require an outside firm and the payment of fees. The first step is to obtain a copy of your credit report from the three major credit reporting agencies, which you have a right to do twice a calendar year in Georgia at no cost to you. Any errors should be corrected with the reporting agencies. You can also ask to have additional explanatory comments added to derogatory items, if you believe that narrative comments would help to explain these items (an example might be a billing dispute with a creditor).

There are many individuals and organizations the law allows to provide you with credit repair assistance.  Lenders, banks insured by the FDIC, and nonprofit organizations can give you credit repair advice.  In some situations, a real estate broker, attorney or registered financial advisor may also advise you.  

Georgia law imposes tough legal restrictions on businesses that offer credit repair services (improving your credit rating) and debt adjustment (negotiating with your creditors and distributing your payments to them). If you believe you have been the victim of an unscrupulous credit repair or debt adjustment firm, please report the facts to the Governor’s Office of Consumer Affairs.

Read more on the Governor's Office of Consumer Affairs' website.

• Building a Better Credit Record   (FRB)
• Self-Help May be Best (FTC)
• How to Dispute Credit Report Errors (FTC)
• Credit & Divorce (FTC)