Credit Repair Company - Avoid Credit Repair Scams

A credit repair company by definition is an organization that helps to boost your credit report by various methods such as checking the accuracy of your report with the credit reporting agencies, taking action in regard to any credit report dispute as it arises, fixing your credit report in the wake of bad debts and so on. In other words, this is an organization that helps you improve your financial situation.

Just what does credit repair company do to improve your finances?

A lot of people argue for the "do-it-yourself" credit report repair method rather than hiring the services of a credit repair company. Is that better? It's your choice.

Here is what a credit specialist should offer you:

• checking each trade line in your credit reports for accuracy: they should do this with the report from each of the major credit bureaus (Experian, Equifax, and TransUnion).
• initiation of a credit report dispute when inaccuracies are discovered; following it up until all mistakes are deleted from the credit report
• advising you on what are the best methods to adopt so as to improve your credit report as quickly as feasible
• counseling you on how to best manage your finances, so you will not fall into debt traps again.
• facilitating avenues that will enable you to earn your livelihood again
• keep a close eye on the credit report maintained by each major credit Bureau, to prevent any errors that could damage your credit report
• teach you how to maintain a good credit-to-income ratio that will reflect well on your credit report

What You Should Not Expect from a Credit Repair Specialist.

There are many people who expect near miracles from a credit repair specialist. Here are some things you should not expect from a trustworthy credit repair agency:

• settle any credit report dispute in a very short time - it takes at least 60 days
• repair credit history overnight - it requires at least of 6 months
• wipe off bad debts - it takes at least 6 months
• change facts entered in your credit report - it will remove only those itmes that are being reported inaccurately
• erase a history of bankruptcy - it can only help you improve your credit score, since a bankruptcy stays on your record for a minimum 7 years
• improve your credit report by tomorrow - credit repair is a gradual process that requires at least 3-6 months

3 Warning Signs That Point to an Untrustworthy Credit Repair Company

It is true that there are a lot of fly-by-night organizations out there who thrive on the gullibility and helplessness of desperate people, just to make a fast buck.

Here are three red flags help you avoid credit repair scams:

• it demands complete payment up front
• it promises you immediate results
• it uses illegal means to improving your credit worthiness

Avoid any such credit repair company like you would the plague! Remember, a bad debt or even bankruptcy is not the end of the world. But using illegitimate tactics to fix poor credit will backfire on you.

Never be tempted into accepting such "help" because these organizations are not trustworthy and will lead you into an even more desperate situation than you're in already.