The Federal Trade Commission is reporting heavy complaints recently about companies offering to fix consumers' credit reports, thus improving their credit scores. These are essentially worthless services. Here's why I say that:

• If you have negative information on your credit report that's incorrect, you have the right under federal law to have that removed. No need to pay a company to do that. You can either go through the credit bureau that lists the inaccurate info, or file a consumer complaint with our office.
• If you have negative info that's accurate, there is nothing you can do about that. Negative information can stay on your credit report for seven years under federal law - or 10 years if it's a bankruptcy.

For more info, see our publication on credit repair scams.