We know that when you have bad credit, then even doing the simplest of things is going to be a challenge. Things such as getting a credit card for instance, getting an apartment or even being able to qualify for a personal loan you might need.
What you want to do is take measures in order to make yourself more desirable as a credit applicant. One option to help you do this would be credit repair companies. You hear about them all the time. They make a lot of promises. Here are some examples:
- Promises to raise your credit by a certain amount within a certain period of time
- Promises to help get rid of various negative items on your credit report really fast
- Promises to help you get a credit score higher than what you could have ever imagined before
You have to be careful with a credit repair service that makes a lot of promises or guarantees you anything. Remember at the end of the day they are still businesses and in order to do anything for you it’s going to cost you. The question is whether or not the cost is worth it.
In order to help you determine if the cost is worth it, then we have to look at a few of the things legit credit repair companies will do for you.
The first thing they’ll do is get a copy of your credit report from all three of the major credit bureaus- Equifax, Experian, and Transunion. Understand you can do this yourself, but it will cost you assuming you haven’t already gotten a free copy of your credit report.
The next thing they’ll do is try to find negative items on the credit report that they can dispute. If they are able to do this effectively, then they’ll be able to increase your credit score simply by having these items removed.
The next thing they’ll do is use a multitude of techniques to get other negative items on your credit report taken off through every bureau. Sometimes this is going to include talking directly with creditors in order to see if they’ll remove the negative marks.
Now here’s the thing, you can do all of this yourself, but it will take more time and energy. So what you have to look at is whether or not you feel working with a service is better due to their superior negotiation skills. This will be a serious factor to consider.
What if you don’t have any credit to begin with?
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If you don’t have any credit to begin with, then you won’t have to worry because there’s nothing to remove from your credit report. The main goal in such a case would be for a person to do things in order to start building credit.
What you want to do is stay away from any credit repair service that says they can increase your score hundreds of points in a really fast period of time. There’s no sure way to do this. What you want to focus on instead is doing things that won’t hurt your credit further in the present. You want to start making better financial decisions and using credit the right way. This way if you are able to get negative items removed from your credit report, then it will really have an effect.
Also if you decide to use credit repair services, then be sure to ask the right questions. Any legit service should welcome these and be able to answer your questions expertly and professionally.