Save Your Money Paying a credit repair company to fix your credit report is often a waste of money, as you can dispute credit report information yourself, free of charge. In any case, the information will only be deleted or modified if it is inaccurate. Creating and maintaining a good credit rating keeps your opportunities open. As tempting as it is to pay someone to undo the damage, you are your best resource.
In short, no one can legally remove accurate and timely negative information from a credit report, and everything that a credit repair clinic can legally do for you, you can do it yourself at low cost or at no cost. Legitimate credit repair companies can ensure that inaccurate information is removed from your credit reports so that it doesn't hurt your credit rating. However, they can't do anything for you that you can't do for you if you're willing to put in the time and effort. You can handle the credit repair process yourself or hire a professional credit repair company to guide you through the process.
As the Federal Trade Commission explains, there is nothing a credit repair company can do for you that you can't do on your own. The reason you would want to hire one is if you don't feel comfortable with the process or don't want to spend as much time following it to the end. If repairing your credit is complex and you feel more comfortable talking to someone rather than doing research on your own, it might be worth investing a few months of payments in education and assistance with a credit repair company. After all, if you have a poor credit score and are paying high interest rates on your debt, it can be a good investment to hire a professional to work efficiently to eliminate any mistakes that keep your credit score low.
If your score is affected by legitimate mistakes you made, those can only improve if you practice good credit hygiene, such as paying bills on time and using less than 30 percent of your available credit. Whether you're repairing your own credit or paying a company to do it for you, it's smart to have a plan to build and maintain your credit in the future. However, because the law requires credit bureaus to eliminate errors within 30 days, doing so may be one of the quickest ways to improve your score and help you meet your goals, whether it's buying a home, a car, or lowering your credit card interest rates so you can pay off your debts faster. In this post today, I will help you understand what credit repair really is and answer the question if credit repair is worth it.
If you decide to work with a credit repair company, you will pay a monthly fee and give you access to your credit rating and report.