Monday, November 9, 2009

Credit Repair Services - 5 Suggestions When Choosing One

When you look for credit repair services, what is the primary thing you search for? The most likely answer would be, "the quickest way to get my credit score higher." However, this is a bad answer - one which will actually lead you to choose the wrong credit repair service and more often than not, one that will use tactics of questionable legality to improve your credit.

Are you wondering why this is? Well, let me explain.

If you're number one issue is getting your credit fixed as quickly as possible, you are inviting scam credit repair services that use this "fast credit repair" idea to lure unsuspecting victims. Heed these important tips so you can select best credit repair services, and steer clear of scam credit repair services.

Tip No 1 - trustworthy repair agencies never advocate quick-fix methods to help your credit report or score. The fact is, a trustworthy credit repair company will make you fully aware of what credit repair services you should expect from them.

These services will be spelled out in a contract. Always insist on a contract; and if a contract is not forthcoming, it's a dead giveaway that the agency and the credit repair services they offer are fraudulent.

Tip No 2 - All legitimate credit repair companies will make you aware of your rights and help guide you in respect to the credit repair services that you can (and should) do for free. Things such as how to get your free annual credit reports, finding the mistakes in your report, how to dispute those mistakes, sound financial management and the like, are those things you can take care of for yourself.

The company will teach you what you can do yourself with little effort, and what requires the expertise of professionals. The worth of the services they offer you can be judged based on this first interaction.

Tip No 3 - No aboveboard credit repair company will ever hint at using illegal means. There a lot of companies that advertise a "second or new" identity, complete and guaranteed removal of bad entries, increase of a poor credit score overnight and so on.

Don't even consider believing such promises until you have visited the Federal Trade Commission (FTC) website and read what it says about repairing your credit score and report. You will be made aware that the credit repair services promised by these types of companies are fraudulent are even worse, illegal.

Tip No 4 - All reputable credit repair businesses offer, among their services, free and quality counseling. As discussed earlier, a legitimate credit repair service is always prepared to help you become financially self-sufficient.

They will be ready to offer you the best of credit repair services and simultaneously teach you what you are able to do yourself. If you find that the agency discourages you from learning about credit repair, contacting a credit bureau, and/or discourage you from taking any action on your own, then they are clearly fraudulent.

Tip no 5 - I am leaving the best tip for last, because this is what will remain in your mind long after you finish reading. Check out whatever membership organizations to which the company belongs.

For instance, many trustworthy credit repair companies are members of the ECRA (Ethical Credit Repair Alliance), which ensures that you - the customer - get the best possible credit repair services. Make certain your company of choice is a member of a reputable regulatory agency.

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