Credit repair services offer a number of ways to fix your credit and improve your credit scores. There is no question as to the value of these services. The credit environment of today is difficult, to say the least. Lenders have never been as conservative. Applicants with poor credit are much more likely to get rejected. And those that are approved can expect to pay high risk premiums, often stretching tight budgets even farther.
Your DIY List
Is hiring a credit repair company a better option than attempting to the project on your own? It is always a satisfying experience to make an effort, learn new things, and reach a goal. It is in our nature to enjoy and thrive on the learning process. We are presented with do-it-yourself opportunities every day. Should credit repair be on our DIY list?
Do-it-yourself opportunities arise daily. Some projects you will choose to undertake. Sometimes you will hire a specialist. What will you decide about the role credit repair services in your life? The fabric of the modern capitalist economy is specialization. Aside from the rare jack-of-all-trades, there is no role in the market place for a true generalist.
What Do You Do
Everyone does a special job. Tinker, tailor, soldier, sailor, everyone plays their role. What do you do? Do you do something in marketing, sales, food service, or the medical profession perhaps? We are all part of the big picture. We do our job and pay others for what they do.
Making the Decision
You can fix your own car, remodel your own home, and even make your own clothes. Have you considered that every time you purchase clothing you have hired someone else to do what they are good at, trading your money for their service. What of credit repair services? There are many considerations that go into the decisions we make.
What Does Credit Repair Involve?
Before deciding to attempt a project on our own we evaluate the complexity of the task, the time involved, and the potential risk of doing it wrong. Unless you are Orville Wright you will probably not want to build your own airplane. The ground is far too hard. You may have no fear of cooking dinner, but the thought may scare me to death. What does credit repair involve?
More Than Sending Letters
Good credit repair services will do more than just sending letters to the credit bureaus on your behalf. A good part of the results that a great service will deliver comes from their expertise. There is quite a bit involved in identifying information on your credit report that should not be there as a matter of legal compliance.
Tools You Must Have
To get the job done right you need a working knowledge of the Fair Credit Reporting Act, relevant FTC Staff Opinion Letters for practical application of the law, and a clear understanding of the dispute process employed by the credit bureaus. If you have collections it is also imperative that you are familiar with the Fair Debt Collections Act and applicable statutes of limitation rules.
Now it is Your Choice
The risk of doing the job wrong is the risk of getting anything less than the best outcome. When it comes to your credit report, everything matters. When considering credit repair services weigh all of the factors and choose. Whichever path you take, we wish you luck!