Credit Repair is nothing but a process of fixing a bad credit report. For some reasons it may damage or it may be thefted etc. these queries are solved by the credit agencies. They are simply fixing the mistakes in our credits. This is meant by credit repair. In other form of credit repair is deals with the financial problems raised for the creditors like budgeting, to address the legal concerns on the part of lenders.
Credit (from Latin credere translation. "to believe") is the trust which allows one party to provide money or resources to another party where that second party does not reimburse the first party immediately (thereby generating a debt), but instead arranges either to repay or return those resources (or other materials of equal value) at a later date. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower.