Personal Finance & Wealth Management

On average, a credit repair company can charge between $19 and $149 per month, but independent financial professionals may bill similar amounts per consultation. Keep in mind the best credit repair companies are regulated by the Credit Repair Organizations Act and should have a high BBB ranking.

Pay off outstanding debt, such as loans and credit card balances, on time and above the minimum amount when the bill is due. Dispute any credit report inaccuracies, and negotiate with collections accounts to reduce your debt or establish a practical repayment plan. In addition, you can sign up for a secured credit card to rebuild credit.

It is possible if you take certain steps, especially since negative items remain on your credit report for seven years—or, in the case of bankruptcies, 10 years—but they will leave your credit history after that timeframe. In the meantime, some credit monitoring services may allow you to access a free credit report so you can track your progress toward good credit.

The best option depends on your unique financial needs and situation. If you are on a budget, you can try to use free credit report services to independently track your financial activity and avoid late payments. However, if your personal finance knowledge is limited, consider consulting an independent professional offering credit repair services, such as a credit score analysis or assistance with composing dispute letters.