12 Questions I Get Asked The Most


Question:   When I pay of a past-due account, such as a charge off or a collection account, will it be removed from my credit report?

Answer: Unfortunately, in most cases, NO; unless you have negotiated this in the settlement of the debt. When an outstanding delinquency account is paid off the status changes to “Paid Charge Off” or “Paid Collection”.

Question:   If I declare bankruptcy does my credit report becomes a clean slate?

Answer:  No, declaring bankruptcy does not erase bad credit. For their own interest, some bankruptcy attorneys may not adequately explain the effects of bankruptcy to their clients, leading to misconceptions.

Question: Do I still owe the debt if an item is deleted from my credit report?

Answer:  If an item you have disputed is deleted, due to the fact that it was unverifiable or being reported incorrectly and you owed money on the account, you will still owe the money.  Getting an item deleted from your credit history does not take away the responsibility of the debt.

Question:  Are credit bureaus a government agency?

Answer:  No.  They are simply privately owned companies that make money by selling your information to anyone who will buy it.


Question:   If my credit dispute is unresolved and I file a “100 word consumer statement” with the credit bureau as suggested on the report, will creditors read the statement and take it into consideration?

Answer:   In our opinion, a 100 word statement is an admission of guilt to creditors, and only serves to verify the negatives on the report.

Question:  Is credit repair legal?

Answer:   YES! It is legal. In fact, it is the best way to exercise your rights under the Federal Fair Credit Reporting Act and the Fair and Accurate Credit Transactions Act. . These laws also provide each of us with a checks and balance system, giving us the right to question the validity, accuracy and ownership of the information being reported about us and sold to others.

Question: Can information really be corrected or deleted from my credit reports?

Answer: Absolutely! If information is not 100% accurate, misleading, outdated, obsolete, or can no longer be verified, by federal law it must be updated or removed.