A bad credit report and low credit score usually represent more risk to lenders. Still, a piece of factual information can guarantee better interest rates and loan terms from lenders and other service providers. That’s why people with bad credit histories seek out ways to improve their credit history and score. Fixing your credit can be achieved by having a third-party company work on your report. Some people take the risk of doing it themselves. Although this is advantageous because it is free, it can also be quite confusing and time-consuming. You may need to get credit help from professionals.
Do credit repair companies fix your credit?
By using the word “fix,” you may be tempted to think that credit repair companies can remove some pieces of information that affect your score negatively. You may also feel that these credit repair companies try to correct incorrect information that appears on your credit report. That is also not true. A credit repair company fixes errors that occur on your credit report.
How do credit repair companies work?
Credit repair companies are designed to do the work you can but are not able to do to improve your credit score. When you accept credit help from a credit repair company, you will be required to pay a monthly fee. The difference between other companies and us is that we are a free service, our competitors charge to help customers. You will also need to give the credit repair company access to your credit score and report.
Once they have access to your report, they will go through it for any negative marks. You may be required to prove that you are not responsible for those by presenting some documents. Fixing your credit history and improving your overall score doesn’t happen automatically. It may take months or even a year for the errors to be rectified and increase your score. Since credit bureaus are required by law to correct the mistakes within 30 days, that may be the fastest way to improve your credit score.
Why hire a credit repair company?
Some articles you will read will suggest that you take the DIY route to fix your credit. The theory is that improving your credit is not as tricky as companies make it seem. We, on the other hand, believe in getting professional credit help. Here’s why:
Working with credit repair companies guarantees a more effective and efficient removal of errors from your credit report. Hiring a pro ensures that problems are resolved faster, and as such, your credit score goes up quicker, and you can qualify for lower interest rates.
Credit repair companies work within federal laws that are put in place to protect and improve your credit history and your credit score. You are putting your credit report in the hands of credit repairers who have adequate knowledge in the field.
You may be tempted to believe that you can fix your credit on your own but having someone help you improve your credit eases the stress off your shoulders. Remember that a credit repair company cannot fix your bad credit habits. Maintain a strong credit history by making payments on time and managing your needs better.