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The Top 5 Credit Repair Myths Debunked

Your credit score is an essential factor that affects many aspects of your financial life. Unfortunately, there is a lot of misinformation about credit repair, and it can be challenging to separate fact from fiction. In this blog post, we'll debunk the top credit repair myths to help you make informed decisions about improving your credit score.

Myth #1: You Can't Repair Your Credit

Many people believe that once they have a low credit score, they are stuck with it. However, this is not true. It is possible to repair your credit score, and there are many reputable credit repair companies that can help you do it. By taking steps to improve your credit, such as paying your bills on time, disputing inaccurate information on your credit report, and reducing your credit utilization, you can raise your credit score over time.

Myth #2: Credit Repair Companies Are a Scam

While there are credit repair scams out there, legitimate credit repair companies can be an effective way to improve your credit score. Reputable credit repair companies work within the law to dispute inaccurate information on your credit report, negotiate with creditors to remove negative information, and provide guidance on how to improve your credit score. It's essential to research credit repair companies before choosing one and avoid any that make unrealistic promises or charge high upfront fees.

Myth #3: You Can't Improve Your Credit Score Quickly

While it is true that improving your credit score takes time, there are some things you can do to see quick results. For example, paying off high credit card balances or disputing inaccurate information on your credit report can result in an immediate increase in your credit score. However, it's important to remember that long-term credit repair takes consistent effort and a commitment to responsible financial habits.

Myth #4: Closing Unused Credit Accounts Will Improve Your Credit Score

Many people believe that closing unused credit accounts will improve their credit score, but this is not always the case. Closing an account can actually harm your credit score by reducing your available credit and increasing your credit utilization ratio. Instead, it's often better to leave the account open and use it sparingly to maintain a low credit utilization ratio.

Myth #5: Paying Off Collections Will Immediately Improve Your Credit Score

While paying off collections can help improve your credit score over time, it won't immediately remove the negative information from your credit report. The collection will remain on your credit report for seven years from the date of the original delinquency.


Credit repair can be a confusing and overwhelming process, but it's essential to separate fact from fiction to make informed decisions about improving your credit score. By understanding and debunking these common credit repair myths, you can take steps to improve your credit and achieve your financial goals. At New Beginnings Credit Solutions, we offer trustworthy and reliable credit repair services to help you get back on track.


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