Credit Repair Companies – Can They Repair Your Credit?
Are you looking for good Credit Repair Companies?
There are a lot of reasons to search for a reputable credit repair company. Maybe you have tried repairing your credit yourself and have realized that it is too time consuming or maybe you have come to a stopping point and don’t know what else to do? I will try to give you an overview of what to look for and maybe tell you who you can trust. You must do your own research and be on your toes before you pay anyone!!!
Who do you trust when it comes to credit repair companies?:
Unfortunately, it is estimated that fraudulent credit repair companies have cheated people out of millions of dollars over the last several years. Consumers have flocked to these “credit doctors” only to discover that their advertisements proved far more impressive than their results.
Many credit repair companies are effective and legitimate. A legitimate firm uses the dispute process made possible by the Fair Credit Reporting Act to obtain results.
Guarantees are a warning sign of a questionable credit repair company. On the other hand, a warranty whereby the credit repair company promises a refund if certain results don’t occur, is a better, more realistic claim and that may be made in the form of a guaranty.
Be sure to ask exactly what they plan to do for you before you pay.
Some companies charge an hourly rate, some charge per item on your report, some charge a monthly rate and some charge a combination thereof. You should be sure of the bottom line before you commit to any kind of contract!
New or Old Credit Repair Companies?:
Should you pick a credit repair company that has been in business for years or a company that is new? They both have their pros and cons.
A new company is one that you are very reluctant to hand over your hard earned money to because who knows if they will be there tomorrow? On the other hand I have found that a company just starting out will give you the personal service that is really hard to find in a company that has been around for years.
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