Can Credit Repair Companies Really Help Fix Credit?

Credit repair companies offer services to fix credit to people with less than perfect credit. In fact, the most pressing problem of those people are very well understood by the credit improvement businesses. With low credit scores they will find themselves unable to get a credit card or other kinds of loans and they want a quick way out to this situation.

From consumer’s perspective, improving credit before getting a loan is a good practice. The preparation is beneficial not only for making sure you can get a loan that you want but also for lowering your loan’s interest rate. No matter whether the loan is for consolidation or other purposes, credit repair helps make sure you can get a loan at a fair price.

However, there are many ways to fix your credit. You can increase credit on your own. But there are also huge numbers of credit repair companies out there. If you want to repair your credit make sure you know which option is best suited for you: improve credit yourself, hire a credit repair company or combine the two approaches.

Fix Credit Yourself

credit repair companies vs do it yourselfWhen it comes to improving your credit you can do nearly everything a specialist can do. There are no secret techniques or loop holes. It’s about whether you have the time, persistence, and organizational skills to effectively execute your plan. Also, whether your credit situation is fairly complicated or you just have a few negative items to target.

You can do the first couple rounds of challenges to the credit bureaus yourself. If it turns out that your low credit score is the result of an error, going to the credit reporting agency is usually all you need to do for fast credit repair.

Just group negative items to dispute and dispute a few items on your credit report that you believe to be incorrect. The reporting agencies are more inclined to delete items if you come across as John or Jane Doe, trying to remove some errors on your report, as opposed to someone aggressively seeking to eliminate legitimate negative items off their report.

There is a thing that can make major impacts on your credit score: on time payments. This affects more than one-third of your credit score and missing one bill one time can slash your credit by 100 points. So what should be your focus? Make payments on time, every time!

The do-it-yourself credit repair tips apply for increasing 100 point of your credit score or even for reestablishing credit after bankruptcy. To get back on track financially you will need to have self-discipline, strong commitment and persistence because rebuilding credit do take time.

Work with One of Reputable Credit Repair Companies

Depending on how bad the credit and how fast the results you can get there 2 types of credit repair companies: a credit counselor and a law firm that specializes in credit report repair. A credit counseling service will only offer restoration advice but they can help you make a plan that has a longer term impact to your credit standing. If you enroll in a debt management plan this is a part of many services you’ll receive.

Reputable credit repair services will quickly fix your credit. Because they are reputable for being scams make sure you go for a lawyer specializing in credit repair. Yes, a credit repair lawyer. Stay away from credit repair companies who ran an ad in your local newspaper with a local number. There are plenty of companies out there that are in fact people who bought a credit repair course and are now running a business out of their spare bedroom.

There are plenty of lawyers specializing in credit repair competing for your business. You can find them through legitimate online credit repair reviews. The reviews usually show you signs of reputable services, how the processes work and what to expect from such a company and program. A list a few recommended agencies are another provided info that helps you find the best one.

An example of reputable law firm is Lexington Law. Lexington credit repair program is run by real attorneys, and they get results! If you do a search for them in online forums you will find many satisfied customers.

How much does that credit repair service cost? As of this writing, it’s just $99 to get started and $39/month. Needless to say this is cheaper than attorneys charging hundreds an hour, and whatever you spend will be recouped in very short order via lower interest rates on credit cards and loans.

Combine the Two Credit Repair Methods

How bad your credit and how fast you want to your credit get fixed are two factors for you to decide which method to use. You can improve your credit by doing it yourself, hiring one of reputable credit repair companies or combining the first two options.

For most people, the best strategy is probably to handle the first couple rounds of disputes on your own. You can fix your credit yourself until you stop getting results then work with one of many reputable credit repair companies for the tough ones.

Can Credit Repair Companies Really Help Fix Credit? was last modified: May 19th, 2014 by Paul Sarwana