Credit Repair Services: Do You Really Need It?
Credit repair can be compared to weight loss, there is no quick fix! Just as it takes time to get rid of your fat, so does negative items on your credit report. Any attempt to repair your credit quickly is more likely to fail than to produce a positive result. The best thing you can do to rebuild your credit is to be responsible for managing it for a minimum period of six months.
You should be responsible in managing your credit, but what if there are errors and inaccuracies on your credit report that make it negative? The worst thing about such inaccuracies is that you are at a serious disadvantage, usually through no fault of your own. Unfortunately, a study by US Public Interest Research revealed that 70 percent of all credit reports contain serious errors.
Correcting these errors involves a detailed legal process that involves sending dispute letters to creditors and credit bureaus, sending reminders, reviewing documentary evidence provided by creditors and bureaus, and more. Like most people, you may not have the time and expertise to carry out all of these processes efficiently. This is where credit repair services can help. Now it is important to understand that it will not be possible to improve your credit score in a few weeks. As stated above, this is not possible even if the negative items on your credit report are due to an error.
Time needed for credit repair
Creditors and credit bureaus are required by law to submit original documentation to prove negative items that are present on your credit report. They can’t take more than 30-45 days to do it. However, drafting and submitting dispute letters can also take some time. Some people think that it is possible for any consumer to correct their credit score without professional help, which is true but hardly possible.
Anyone whose credit report contains errors can try drafting their own dispute letters and sending them to interested parties, but it is time-consuming and requires a lot of mental effort. Unless you’re ready to take this duty as seriously as you take any other professional commitment, don’t even try it! Hiring a reliable credit repair service provider, which would be a company that has over a decade of experience helping thousands of customers with unfairly negative credit reports, can help you fix your credit score without too much fuss.
Credit report repair services are particularly helpful when:
— Negative items on your credit report are due to accounting, reporting, or other errors made by creditors, credit bureaus, or collection agencies. Genuine errors can be safely removed from reports when you follow the proper procedures.
— Credit repair service providers are good at identifying errors that cannot be verified. By law, if any item in the report cannot be supported by documentary evidence, it must be removed. Credit repair companies can use this loophole to improve your score.
— Some lenders are willing to negotiate with their consumers’ credit repair representatives. If your lender allows it, this can help you boost your credit score.
A credit repair company is an effective alternative for you if you have a lower credit score. They will take steps to remove any inaccurate information from your credit report, which will eventually improve your credit score.
