Does Credit Repair Work?
Our credit repair information gives you everything you need to know to start improving your credit score.
Many of our readers (even yours truly) have cleared up a few blemishes on their reports. And by the way: everything a credit repair clinic can do for you, you can do for yourself at little or no cost. That being said, we know that sometimes people feel overwhelmed with the process and want to ask a live person a question if they get stumped. If you do, don’t worry. We will steer you in the right direction.
Credit repair may very well be the most misunderstood service I’ve ever had a chance to be around in my life. Having been the president of a fast growing credit repair company I have a very unique perspective on things.
Who is Credit Repair For?
Credit Repair services work best for people who have been through some type of financial trouble from unforeseen circumstances, but have rebounded from these events. These situations include loss of a job or income, medical issues without insurance, divorce, or even being a risk taker on a business venture and failing. Point being, that most people don’t choose to have bad credit. Truth is though that more people than not have had some type of problems in the past with their finances for one reason or another.
Who is Credit Repair NOT For?
Credit repair is not for someone that is currently having a hard time with finances. If you find yourself strapped for cash every month and even missing some payments, then unfortunately no amount of credit repair is going to solve the issue right away. That’s not to say that there isn’t options though. Depending on the situation, many people may be well off to enter into some type of debt settlement program. (to learn more about debt settlement click here) These types of programs are generally for people that have a lot of credit card debts.
How Do You Start Repairing Your Credit?
First thing you need is to get a copy of all of your credit reports. You can get a copy of all 3 here plus credit monitoring by clicking this link. After you have your reports, understanding how to read them will be absolutely essential in your efforts to repair your credit. Disputing an item incorrectly can cause more damage than you can imagine, so make sure that you learn how to read them properly. You can go to my page that explains exactly how to “Decode a Credit Report” by clicking here.
Ok, I’ve read my credit report and identified all the derogatory items, now what?
Next step is that you will need to identify whether or not you want to start working on this yourself, or have a company do it for you.
Some of the Pros for doing it yourself include:
1. It costs less than hiring a professional.
2. You’re in more control over your file at all times.
Some of the Cons for doing it yourself include:
1. You will need extensive knowledge of the Fair Credit Reporting Act and the Fair Debt Collection Practices Act.
2. A professional that’s been doing it for years doesn’t need to go through the learning curve and has far more resources available at their discretion to get the job done in a timely manner.
3. You only get one shot at it for a couple of years so if you do it wrong you’ll create some damage that cannot be undone for quite some time.
Ultimately only you can choose what your time is worth, but if you feel that you have the time to divulge into learning exactly how to do credit repair for yourself it’s actually very inexpensive to do. All you need is the cost of mailing and some type of system to keep organized and you’ll be good to go.
If this sounds like a path you’d like to take, we highly recommend learning from a trusted resource. We’ve had a chance to review some of the better do it yourself credit repair guides and you get see who they are by click on this link here. These guides will show you step by step exactly how to handle working on repairing your credit. Believe me when I tell you that a guide is well worth it if you don’t know how to repair your credit.
What if You Don’t Want to Do it Yourself?
Having been in the business of actually providing the service of credit repair for a number of years, I’ve come to learn who the real players, and pretenders are. We wholeheartedly recommend Lexington Law as they are one, if not the, very best credit repair firms around. They are very affordable and provide a very good service. They are not only the largest company in the industry, but have also been around for 20 years now. Last year alone they have over 1 million derogatory items corrected or deleted off of credit reports. That’s certainly saying something.