Do Credit Repair Companies Work?

Do Credit Repair Companies Work? 

I am first going to give you a little background on me.  I was a kid who had too many credit cards and wound up in debt over my head.  5 years later and extensive damage to my credit I was able to pull myself out of debt.  Its been a difficult road but my goal is to help people better understand their debt and to understand how to manage it.   

Do those credit repair companies work?  The ultimate answer is it all depends on YOU!  Like anything else whether it be losing weight, making money, or getting out of debt, it’s ultimately up to you to take action and make things change! The first thing to look at while looking for credit repair companies, is what do they offer?  Are their offers realistic?  A company that gives you the illusion that they can get rid of every negative item on your credit report, is a company to be extremely wary of. 

There are many rules regarding disputes about items on credit reports. Each credit repair organization is required by law to provide the “Consumer Credit File Rights Under State and Federal Law.”  This is important because those rights outline what is possible and what is just not true.  Many companies use wild claims to reel an unsuspecting victim in.  Be wary!One way to tell if the business is legititmate is to check it out with the Better Business Bureau.  Some online businesses may not be listed with the BBB, but its worth a check either way.   

The services that you’ll need from a repair company are:

•  Debt consolidation services

•  Debt management services

•  Credit dispute services

•   Mentor services

•   Step by step personal financial plans 

It is important to make sure that the company offers all of these services.  Everyone is different, but chances are if you aren’t good with managing money or debt you’ll need a lot of guidance to get back on track.  Bad credit does not carry with it a sentence of an eternity in hell.  It is possible to come back from it, as long as you are able to make the correct changes.   

When looking at prices of credit repair companies take a close look at what prices come with what services.  As most of us already know cheaper does not always mean better.  You pay for what you get.   

Take your financial future seriously and find a company that is honest and really out to help you.  My personal recomendation is that credit repair companies can be very beneficial for people who do not know the first thing about managing money or debt.  These companies can offer structure to your life and bring relief to your financial situation. 

The big thing I want to advocate is that like anything else fixing your credit does take effort on your part.  The credit repair company will set the structure and put you on the path, but ultimately it is your choice whether to fix your credit or remain in financial turmoil.

We have many more Credit Repair Articles Now Available.