Credit Repair – Do You Need to Hire a Company?
For years people have been paying companies to help them fix their credit profiles. All kinds of companies regularly advertise the services, which promise to help those with damaged credit get back on the right track. Though such organizations offer varying levels of effectiveness, many people wonder if they can actually improve their credit on their own. The answer is definitely yes.
One of the most important things to realize about credit repair companies is that they can only help you legally remove erroneous items, or items which should otherwise qualify to be removed from your credit report. For example, collections which are over seven years old should be easily removed from your credit report due to reporting laws. However, credit repair companies cannot legally promise you that they will help you remove negative items which are legitimately on your credit report. If you have filed bankruptcy or suffered a recent foreclosure, it is likely that even the best credit repair company will not be able to help you immediately remove such information.
Due to the companies’ limitations, most consumers can do everything a credit repair company could do. Though there are reasons some people may prefer to pay a company to assist them with the process, the fees can be substantial. Some credit repair companies charge up to $89.95 per month or more, essentially to provide a service that the consumer could do on their own. Those interested in improving their own credit are recommended to search the Internet for various helpful articles and forums, and to familiarize themselves with the techniques, laws, and practices required for credit repair.
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