Should you attempt to repair your own credit, or should you hire one of the reputable credit repair services to do the job for you? We have provided support to the do-it-yourself community for years. In fact, we take calls every day from people wanting a little assistance in their DIY effort, and we are happy to comply. But for most people there is a significant advantage to hiring a credit repair professional.
Do it Right
Credit repair is more complicated than most people understand. There is nothing as important to your financial life as healthy credit. If your credit needs help you must insure that the job is done properly. If you have the time to learn everything that goes into credit repair you can succeed, otherwise you will be doing yourself a disservice. Here is an overview of the details professional credit repair services will attend to for you.
Proofreading a credit report for credit repair purposes involves more than identifying the evident derogatory items and putting them on the list to dispute. Many of the reporting errors that we find are compliance issues; these may look okay, but should not be reported as a matter of law.
Reporting Period Limit Examination
Legitimate derogatory information is meant to stop showing once the reporting period limit is reached. Reporting period limits are often misunderstood. To succeed at credit repair you must know the length of various reporting period limits and when the reporting period limit clock starts on each item; this is not always self-evident.
Collections accounts are prone to reporting errors and should be examined with care. More than half of the collections on credit reports are invalid. When collectors sell a debt they are supposed to remove the account from your report, yet they rarely do. And legitimate collections are not always the threat that they seem. A careful examination of the statute of limitation will often reveal a great credit repair opportunity. Debts past the statute of limitation cannot be collected through the courts and may be advantageously negotiated.
Credit Score Optimization
Everything that you do to clean up your credit report should be done with your credit scores in mind. You must have a working knowledge of the FICO scoring model to succeed. Truly effective credit repair may require a reshaping of your report, opening new accounts, closing others, and reducing balances. A good credit repair service will insure that all actions are appropriate and productive.