Are Credit Repair Services Good Or Bad?
Let’s make some parallelism here. Say, a gun – can you honestly say that it is a good thing or a bad thing? You’d probably say, it depends on the purpose of using it. To put it simply, it can either save someone from danger or a threat; or it can snuff out somebody else’s life. The same perception can be applied to Credit Repair . There is no simple bad or good label to it. It is how the people in the process intend it to be – whether to help or bring harm – that would define in which category it falls. And the only way you can deal with it is to arm yourself with enough knowledge.
If it’s possible to do the process yourself, why do you have to hire professionals for Good Credit Score services? That’s a reasonable question. It’s all in the operative word “possible”. The sad truth is some people aren’t into this. You probably neither have the time nor the inclination to pursue the process or even learn the ins and outs of credit repair. Given the circumstances, it does make more sense to just hire a credit repair service company.
If you consider the time required just trying to learn every step of the process, it is better to let experts handle it and save considerable time and effort. With that option, it is necessary to have some basic information about the industry to identify the right credit repair services company to hire.
The Credit Repair Organizations Act regulates the activities of credit repair services companies. There used to be unscrupulous companies that would say and do anything to get the client to sign agreements that they had no intention of honoring with specifications of tasks that were never meant to be carried out. When the Act was passed, however, the credit industry became a more organized industry, governed by a set of rules and regulations. Among the protections provided to the consumers are:
· Credit repair services can’t just propel woozy claims such as eliminating negative items from credit reports overnight.
· They cannot claim to delete all the negative items as the rule says that there are items that nobody can legally erase.
· They can’t charge the client upfront fees for work they haven’t performed or completed yet. Many consumers have been victimized by this scheme in the past where they have paid the companies upfront fees even before any work has been started; and the clients ended up not getting any improvement done on their credit rating, but lost considerable amount of money instead. The new Act has addressed this issue, but by no means has the malpractice been completely eradicated. These days, credit repair services charge monthly fees and ask for minimal set up charge.
When all is said and done, it all boils down to you being able to check thoroughly the company you intend to hire. An ounce of prevention is definitely worth a pound off the painful cure, as they say. It’s a smart move to get professional help in fixing your credit report; be smarter and get the credit repair services professionals that you can trust and rely on.
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