Credit Repair Companies

Unfortunately, credit repair companies have a pretty bad reputation in the credit repair industry. In fact, the credit repair industry itself has a bad reputation. Many people don’t even really know what credit repair is. Is credit repair even possible? Is credit repair legal? Yes and yes.

The first thing you should know about credit repair is that everything a credit repair company can do for you legally, you can do for yourself at little or no cost. It should also be known that you can file bankruptcy yourself. You can also repair your own car, change your own oil, clean your own carpet and paint your own house. Are you starting to see my point?

While you can definitely do certain things in life by yourself, it is sometimes better to hire a professional to do it. There will always be people who prefer to do it themselves and there is absolutely nothing wrong with that IF they are able to get the job done efficiently and effectively.

Credit repair is no different. If you know what you are doing, then you should absolutely do it yourself. If not, you have a few choices: Learn do it or hire a professional credit repair company to do it for you. If you chose the latter, be very careful to go with a reputable company. Do your research! Contact the Better Business Bureau to see if the company has any complaints about them.

Under the Credit Repair Organizations Act, credit repair companies cannot require you to pay until they have completed the services they have promised. By law, credit repair organizations must give you a copy of the “Consumer Credit File Rights Under State and Federal Law” before you sign a contract. They also must give you a written contract that spells out your rights and obligations. These laws were written to protect you from shady companies. Read these documents before you sign anything.

If you prefer to repair your credit by yourself, check out the solid advice given in the Credit Secrets Bible – by far the best book I have read about credit repair.