Credit Repair Companies Under Attack

- JEFFERSON CITY, MO, December 01, 2006 - One thing I found interesting is a lot of the information is posted by the same companies that you will be battling to improve your credit scores or the banking industry. Just like any industry you are going to have companies out there that just take advantage of the customer and really don"t do anything for the customer except take there money. This is unfortunate because a good credit repair company can be a tremendous value to a client that has had a history of bad credit and has now decided to do something about it.

I started in the credit repair industry in 1999 not because I wanted to do credit repair but because after a divorce and other personal issues I needed to repair my credit. I was fortunate that the company I was introduced to was a honest company that did what they said they would do and was able to help me restore my credit as well as provide me with good credit educational material that I continue to utilize today.

How do you find a good credit repair company? It is important to investigate the credit repair company that you intend to use. Credit repair can cost you as little as $250.00 or as much as $2500.00, and sometimes more. A good place to start when researching a credit repair company is, the Better Business Bureau? If they are not a member then move on to the next. If they are a member than, how many complaints do they have? Have they resolved any complaints they had? Do they have a customer service number where you can call if you have questions and talk with a live person? Is the owner of the company available to talk with if you have a problem or concern?

Another important item is; what am I getting for my money. Credit repair is something that you can do for the most part on your own. The FTC has on its web site the Fair Credit Reporting Act for you to read so you can understand what your rights are as a consumer. The credit reporting agencies have online access so you can dispute your account information online and via mail (for a monthly charge). The problem is this, I have personally read the Fair Credit Reporting Act and have attempted to dispute items on my credit report and this is an extremely time consuming endeavor. I have spent countless hours putting together dispute letters, reading and re-reading the FCRA trying to understand the process and it is a daunting task.

The credit reporting agencies are billion dollar a year profit corporations and the process that they use internally to report and create credit scores is extremely complex and quite frankly a mystery. If anyone tells you they understand this process completely they are lying. I applaud anyone that attempts to do there own credit repair and you will get some results but to optimize this results you need to have a good, honest, reputable company work for you, a company that understands the dispute process and the type of information to send the credit reporting agencies to get the best results, a company that will provide you with valuable educational information that you can use to maintain your credit scores once your credit repair is complete.

Since 1999 I have represented the company that got my credit score back on track and that provided me with invaluable educational materials on credit reporting and credit scores that I still utilize to this day.

I have been in the mortgage industry since 1999 and have used this same service for my clients that have credit issues and have gotten the same outstanding results I personal got. My clients have had literally 10"s of thousands of dollars in erroneous or unverifiable collections or charge offs deleted from there credit reports. I can not afford to not get the results or have problems with the company I represent or use, because my business is largely referral based. So when I use the company I represent I expect results for my clients.

The bottom line is you can do your own credit repair to some degree, but to get the best results and education you need to maintain your credit scores, hire a reputable company and save yourself a lot of time and frustration.

01.12.2006 - 10:16 Source: 24-7pressrelease.com | Read: 350 X