Do Credit Repair Companies work?
Yes, they do! Credit repair companies are legitimate businesses that offer their services to help debtors with a bad credit record to improve it.
But, there is always a but, like in any service, out there are companies delivering good experiences, and others doing the opposite.
A good credit repair company is going to be open and sincere with you.
First, there is a reality; your bad credit score results from a sum of factors, all of them, outcomes of you passing through difficult times. In that scenario looking for a magical solution to erase problems with a wink is a common desire. The truth is that it is not going to happen.
So, if you find a company offering a magical-zero-debt-voodoo potion, don’t buy it.
Second, repairing credit essentially consists of checking your reports looking for inaccuracies. Then, to dispute those errors with the Credit Bureaus, on your behalf, to have them removed from your record.
In essence, those items could be dragging your score, and therefore once you get rid of them, your score will be healthier and better.
Third, the work requires dedication, knowledge of the law, and expertise to identify common mistakes that sneak into your financial record.
As you could have read around the web, it is possible to do the repair credit process yourself. That is a fact. However, the task is not as simple as it sounds after an online glimpse.
Fourth, a good credit repair company should be open and willing to teach you where those inaccuracies were and how to avoid them in the future. More importantly, it will guide you to have a more healthy credit by giving you financial advice according to your needs.
Opting for hiring a credit repair service is a valid option when you understand your needs and the situation you are going through. Choosing that path requires patience and disposition to work side-by-side with that trustworthy company of your choice to repair your credit.
Last, as a company with deeper roots in the Latino Community, we have learned that exiting from a credit’s quicksand is usually more challenging for the firsts and seconds generation of Hispanic Americans. The common reason is the lack of generational background regarding how the credit system works in The US.
Once your credit score is in the “good zone” or above again, you carefully could take advantage of benefits like lower interest rates and, the best of all, having that burden off your shoulders. Sounds great!