One of the booming cottage industries that has emerged from the Great Recession is credit repair companies. Most are by the same people who flew the sub prime mortgage industry into the ground lying to home buyers about their ability to refinance out of a high cost mortgage into a more affordable long-term mortgage in just two short years once their credit improved.
Little did the unsuspecting homebuyers know that it takes much longer than two short years to undo a credit history that has taken them years of bad personal financial habits to earn.
To say that all credit repair companies are unscrupulous is like saying that all sub prime mortgage lenders were and are criminal and thats simply not so. However in my opinion, as long as these companies they make no promises of results and don’t charge an unreasonable amount of money, they probably are worth the fees.