[I]f you have had some credit problems in the past and have a bad credit score, you may be looking at credit repair help. You’ve probably seen ads promising that your poor credit will improve quickly. Though some of these companies are scams, many are legitimate agencies that can make a difference. Before you choose one, there are some things you need to be aware of.
How Credit Repair Agencies Can Help You
These agencies can have information removed from your credit report by disputing accounts. However, they can only require that inaccurate information be removed. If it is legitimate, it must stay on there unless the collections agency or creditor chooses to remove it.
You should get the contract in writing that states how much you will be paying for and for what services. Some companies charge by the account that is fixed while others charge a monthly fee. You should find out how long it will take to get results and what the final cost will be. You also need to know how you can cancel their services and what the charges will be at that time.
Realize that your credit won’t improve overnight. As much as you might wish it would, you won’t wake up one morning with excellent credit and the ability to get any loan or credit you want. Repairing damaged credit takes time. Even credit repair agencies will tell you that when you inquire about their services.
Should You Go It Alone?
Credit repair agencies only do what you can do on your own. With that being said, does it mean you should handle your own credit repair? That depends on how much time you have and if you feel comfortable doing the legwork. Some people are independent and like to have control of their own credit repair. On the other hand, others may prefer the experience of an agency or be limited on time. For them, it may be worth the cost of hiring a professional.
Only you know if you should hire a credit repair agency or do the work yourself. But know that repairing bad credit takes time no matter who does it.
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