If you watch television late at night, you likely have noticed the large number of infomercials dealing with repairing bad credit.  For a fee, these companies will have their representatives contact your creditors and negotiate a smaller pay off on your accounts.  Payments on all accounts are then combined into one manageable monthly payment.  This helps to pay off creditors more quickly and improve your credit history.  The infomercials claim these credit repair programs are a better alternative than bankruptcy.  It is best to do whatever you can to preserve your credit history because it is difficult to get loans for bad credit.  So the next time you can’t sleep and are watching TV late into the night, pay particular attention to the infomercials.  You never know when one of their products or services may be of help to you.