Do The Best Credit Repair Services Improve Your Credit Score?
The best credit repair services set realistic expectations, while taking much of the drudgery out of fixing your credit score. While none of them can perform magic, the best credit repair services can help improve your credit score.
There are hundreds of credit repair services advertising today, but the Federal Trade Commission considers most of them to be scams. Companies that claim they can help you erase bad credit, or offer guarantees to raise your credit score, are probably scams.
According to the FTC, it is not possible to legally remove accurate and timely negative information from a credit report. Suggesting that you dispute all negative entries on your credit report, for instance, is illegal.
The best credit repair services won't ask you to pay in order to get your credit reports. Under federal law, anyone can get their credit report from each of the three credit-reporting agencies (TransUnion, Experian, and Equifax) once every twelve months for free.
You can do a lot of what these companies do yourself, however for those who aren't aware of all their options, it can be very helpful. You might be able to lower the fees a company charges by doing some of the "work" yourself, or you can opt to do everything yourself.
Besides credit repair services, there are companies called "debt consolidators". These debt consolidators won't directly fix your credit, but instead they work with you to help bring your outstanding debt under control - a big step towards long-term credit-worthiness.
Debt consolidators do this by contacting your creditors on your behalf. They will negotiate a 'settlement' agreement, usually just a fraction of the actual amount owed. The debt consolidator will combine these settlements into a single amount. They will give you an amount within your budget to send them each month, and in turn they send a portion to each creditor.
The best credit repair services can only help those who want to help themselves. They aren't a "bailout" that erases bad debt like bankruptcy filing, however they can help set you on the road to improving your credit score, and in turn your financial future.
There are hundreds of credit repair services advertising today, but the Federal Trade Commission considers most of them to be scams. Companies that claim they can help you erase bad credit, or offer guarantees to raise your credit score, are probably scams.
According to the FTC, it is not possible to legally remove accurate and timely negative information from a credit report. Suggesting that you dispute all negative entries on your credit report, for instance, is illegal.
The best credit repair services won't ask you to pay in order to get your credit reports. Under federal law, anyone can get their credit report from each of the three credit-reporting agencies (TransUnion, Experian, and Equifax) once every twelve months for free.
You can do a lot of what these companies do yourself, however for those who aren't aware of all their options, it can be very helpful. You might be able to lower the fees a company charges by doing some of the "work" yourself, or you can opt to do everything yourself.
Besides credit repair services, there are companies called "debt consolidators". These debt consolidators won't directly fix your credit, but instead they work with you to help bring your outstanding debt under control - a big step towards long-term credit-worthiness.
Debt consolidators do this by contacting your creditors on your behalf. They will negotiate a 'settlement' agreement, usually just a fraction of the actual amount owed. The debt consolidator will combine these settlements into a single amount. They will give you an amount within your budget to send them each month, and in turn they send a portion to each creditor.
The best credit repair services can only help those who want to help themselves. They aren't a "bailout" that erases bad debt like bankruptcy filing, however they can help set you on the road to improving your credit score, and in turn your financial future.
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REPAIR YOUR CREDIT QUICKLY at fixcreditrepair.info! Learn more about the Best Credit Repair Services.
posted by Credit Counseling at
8:16 AM
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