Golden Road Credit Services Inc.

The credit repair industry is governed under the Fair Credit Reporting Act, as well as the Credit Repair Organization Act. There are many companies which have given the industry a bad name, or are fraudulent. However, there are legitimate companies which use the correct and legal methods to obtain results. In fact, thousands of negative items are deleted everyday. In truth, due to the laws which govern the industry, credit repair fraud is less common now than 5 years ago. Many federal and state investigations have cleared away a good portion of the illegitimate and fraudulent companies.

No, the accounts will only show up as a paid charge off or collection and will stay on your credit report for a maximum of seven years.

No, when you file for bankruptcy, while your debt may be relieved, every single account which was included in the bankruptcy will appear on your report as a charged off (included in bankruptcy) item.

CCCS’s are non-profit counseling services. They can assist consumers who are having trouble making payments and are overwhelmed with debt. This can be a wise alternative to filing bankruptcy. However CCCS’s are funded and controlled by the credit grantors, and the credit bureaus. Often consumer credit counseling services provide beneficial services. However they do not help you improve your credit history. In fact, while you are participating in this process, the creditors involved often list on your credit report that you are involved in a counseling program, which is considered a negative account on your report. Prospective credit grantors consider anyone on a debt counseling program to be a high risk and will not offer credit. Paying off your debt is definitely a step in the right direction, but it does not repair your credit. For many people, however, consumer credit counseling is a worthwhile endeavor.

Absolutely not! This is a process that can be done by anyone and it does not require any type of degree. There are no courses offering any type of certification or diploma. The main reason why attorneys are often involved in this business is because they are exempt from stringent state laws that regulate credit restoration organizations. The law requires that a company is bonded in the state of operation and is approved and registered with the Attorney General’s Office of that state. Attorneys are exempt from having to comply with these laws. However this does not mean that an attorney will not do a better job at restoring your credit. It only means that the business did not have to meet the federal requirements to get established.

Many credit repair companies guarantee to remove all negative credit within a specific time period, ex: 30 days. You may have seen other companies offering 110% percent guarantees, stating that everything will be cleaned up within a couple of months. NO Credit Repair company can guarantee a specific outcome since the results depend directly on the ability of each Bureau to verify each item disputed. Such Guarantees are usually a sure sign that you are dealing with a less than reputable company, since guaranteeing the results of this type of work is illegal. A refund however, is a more realistic and legitimate way of doing business in this field…and a more realistic claim. Always read any guarantee carefully. Often times it may look like that you are entitled to a refund if the service doesn’t work, when in fact the guarantee is null and void if there is ANY improvement at all.