Myth#1

It is illegal or immoral to have your credit report cleared.

Fact: The Fair Credit Reporting Act was designed to help people like you start fresh and to keep credit bureaus from invading your personal privacy.

Myth #2

The information on your credit report cannot be changed.

Fact: Under the Fair Credit Reporting Act both federal and state law requires that an item be removed if it is not 100% accurate or if the information is outdated. Additionally, information that cannot be verified in a timely manner must also be removed.

Myth # 3

It is impossible to get a bankruptcy claim off of your credit report.

Fact: Bankruptcy can come off credit reports like any other negative mark. The nature of a disparaging item on your credit report has nothing to do with its removal under the Fair Credit Reporting Act.

Myth # 4

Credit reporting agencies are empowered by a government authority.

Fact: These agencies are simply free enterprise businesses operating to make a profit just like any other business. They do not work under the umbrella of any governmental organization

Myth # 5

The past equals the future.

Fact: The concept of once bad always bad is simply not true. Anyone can run into hard times. But that does not mean you are a credit risk forever. The simple truth is that no credit report can predict the future. Additionally you have the power to turn a formerly poor credit score into a great one.