Should I use a “Credit Repair” company?

We love to read all of the differing opinions that flood the internet from the so-called professionals in investing, money management, debt management, etc.  We sift through articles and websites trying to find the best, most accurate information for you, our clients.

We do however, have one very significant pet peeve and that is all of those professionals thinking that they know what it takes to do “credit restoration”.  We cannot tell you how many times we will read an article that says that it is so easy a monkey can do it and one recently stated that you fill out a 30 second questionnaire and you could receive your free credit reports.

Time for the truth ladies and gentlemen.  You have EVERY legal right to request your credit report from each of the big 3 reporting bureaus, annually.  What is not told to you is that it takes approximately 30 minutes, standing on your head while twirling a baton in a counter-clockwise motion…for each bureau!!!  30 seconds my aunt Fanny.

We also read that it is a good idea to stagger getting all three reports throughout the year to see if there are any discrepancies.  Well, that would make sense if creditors were required to report to all 3 bureaus if they reported to one.  If there is a mistake on Experian and you order TransUnion, you aren’t going to know for a year if there is a mistake is on Experian, (that’s just common sense).  We advise biting the bullet and getting all three reports from whatever of the three agencies you choose every 90-120 days.

Now you see a mistake on your report (trust us, with the number of errors that is average this is a pretty definitive statement) and you decide to dispute it because you don’t work and have no family or love life and nothing better to do with your time.  You decide to go the route of “on-line” disputes.

For all intents and purposes, you send this to the bureau, who sends it to the creditor (who gets 1200/day) and they say “Yep, he/she owes it”.  Guess what, you have reached the end of the dispute process.

However, a Credit Professional knows how to dispute in such a way that we use the laws of the FCRA, the FDCPA and several other consumer protection laws to make certain that you are not stopped before you get started.


Call us for a free no obligation consultation at (800) 811-3078