Should I Use A Credit Report Repair Service Company?

Using a credit report repair service company can be the answer for someone who is looking for help in rebuilding a bad credit record, but there are a number of factors to consider before taking this course. First you need to establish that the company that you are considering is a genuine credit repair specialist rather than a less reputable organisation. Second you should consider whether you can take the necessary steps yourself to repair your credit score.

The Federal Trade Commission has published advice for anyone thinking of employing a credit report repair service company. It warns of companies that make extravagant claims, collect a large payment upfront and then either fail to deliver, or worse still, disappear with your money. Suggestions that you should create a new credit identity, or even a new personal identity, are clear warning signs.

Provided you heed these warnings you should be able to find a reputable credit report repair service company. They will ask you to obtain copies of your credit reports from the three credit bureaus, Equifax, Trans Union and Experian, and advise you which of the entries can be removed. A company specialising in this field will have the knowledge and experience of constant dealings with the credit bureaus to know the best approach to adopt in any particular case. 

However you do not have to employ a credit report repair service company, and there is no reason why you should not deal directly with the credit bureaus yourself. When you have obtained copies of your credit reports, you will need to check them for any errors or out of date information. If you find any incorrect entries you should write to the credit bureau concerned pointing out the error and requesting its removal. Should you find a number of errors it is recommended that you only dispute three or four at a time to avoid your application be treated as frivolous.

The decision as to whether you employ a credit report repair service company or deal with the credit bureaus direct is up to you. There is no reason why you should not handle the proceedure yourself and save some money at the same time. On the other hand some people may prefer to engage a credit repair specialist if they do not feel confident enough to deal with the matter themselves.