Credit Repair Articles

What's Wrong With Credit Repair Companies?

Credit Repair Articles - Credit Repair

You've probably heard us say before that you are probably better off if you can repair your credit yourself.

You might be wondering why we're so in favor of DIY credit repair versus using a credit repair company.

Why are consumers better off without the help of a credit repair company?

The answer really boils down to one word:

LIMITS.

Credit repair companies have certain LIMITS within which they operate that LIMIT the tools available to them, and in turn place LIMITS on the results that they can get for you.

It's not that we're against credit repair companies. We're really not. The "idea" is great: Get credit repair done, pay someone else to do it, never have to worry about it.

But there are limitations on credit repair companies that don't exist for the consumer.

Because of these limitations, we believe that if you have a CHOICE, it is better if you do your OWN credit repair rather than use a credit repair company.

What are the limitations?

For starters, consider this:

A credit repair does their work by doing one thing:

MAILING LETTERS TO THE CREDIT BUREAUS.

That's it. They send letters to the credit bureaus. If items don't come off, they send more letters, and more letters, and more letters. And that's usually the end of it.

Some credit repair professionals may do more focused and careful work, but larger companies especially will pretty much just "send out letters", and hope for the best.

Do you think a credit repair company can or would call your creditor to investigate an item before creating a custom factual dispute based on errors with that item?

Of course not. They can't call your creditors for you. They don't generally use custom factual disputes, but rather canned "boilerplate" letters that they have used for many other clients before you.

Section 623(a)(8) of the FCRA gives CONSUMERS the ability to dispute directly with the furnisher. But notice this text in sub-paragraph (G):

"Exclusion of credit repair organizations. This paragraph shall not apply if the notice of the dispute is submitted by, is prepared on behalf of the consumer by, or is submitted on a form supplied to the consumer by, a credit repair organization, as defined in section 403(3), or an entity that would be a credit repair organization, but for section 403(3)(B)(i)."

So if you're working for yourself, you have the ability to dispute directly with the furnisher.

The credit repair company does not.

Again, this doesn't mean credit repair companies are completely worthless. They're not. There are hard working professionals out there who can do a great job for a consumer in the right situation.

But if you want the BEST work done on your credit, with the MOST options available for fighting creditors, collectors, and the credit bureaus and RAISING YOUR CREDIT SCORE as much as possible, the "best" choice is to do the credit repair work yourself.

We know it can be hard work.

That's why we created the Credit Repair Intelligence System to include information on HOW to do credit repair, and HANDS-ON SUPPORT to help you through the process.

For more information on the Credit Repair Intelligence System visit http://www.creditrepairpublishing.com/crisystem.

 


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