Hire a Credit Repair Company or DIY

Hire a Credit Repair Company or DIY

In today’s world, everybody is fascinated by the “DIY” do it yourself motto, instead of spending the time and money to pay experts. Can you remodel your own kitchen, can you refurbish old furniture? Of course, everybody can, but it is definitely more time-consuming if you do not have the experience in those specific areas. You are also able to do you own credit repair, but if you are not an expert, it will take more time to find out the results.

Why is it a good idea to keep up with credit report anyway? With recent data breaches from Equifax and other financial organizations, it’s always best to keep a watch on your credit report for the smallest errors than may occur. Sometimes, there may even be accounts that may not belong to you. In 2016, the highest percentage of complaints posted in the Consumer Financial Protection Bureau’s website were about credit reporting according to marketwatch.com. Based on these complaints, what is the best way to fix your credit? Should you hire a company or do it yourself?

There is one major key involved in repairing your credit. You will need to have current copies of all three credit reports from reporting agencies: Equifax, Experian, and TransUnion, which you are entitled to a free report each year. You may attain these through annualcreditreport.com. Once you obtain your reports, it’s very important that you know how to read them and to read them carefully. Some credit reports may be easier to understand than others. So take the time to examine each.

Here are a few things that may get disputed on a credit report:

  • Account history such as late payments, collection accounts, public records, etc.
  • Wrong personal information such as names, addresses, date of birth, etc.
  • Wrong account information such as balances, accounts that do not belong to you, etc.

When you figure out what exactly you’d like to dispute on your credit report, you will need to contact the credit reporting agencies. You can do so online, mail or fax. If you would like to dispute something online, you can create a free account with the credit reporting agency. Once you make an account, you will need to answer the security questions asked before you can access the reports to submit a dispute online.

If you choose to dispute by mail, this allows for longer expectations of what you want the credit reporting agencies to alter, repair, or eliminate. If you also have the time, there are some dispute letters that are already made which you can use. You will have to search for these online. By choosing mail, you may also include supplementary documentation to sustain your dispute. But in most cases nowadays, you may upload certain files to include in your online dispute.

You may be thinking what does a company have to offer me? Well, a credit repair company will send the dispute upon your behalf the same way as you would if you did it on your own. The difference between having a company do it for you vs. DIY, is their experience and expertise in getting you the best results possible. A trustworthy credit repair company such as The Credit People, will know every in and out of the Fair Credit Reporting Act also known as the FCRA, and will use that information to your advantage. With most credit repair companies that have been in business for a long time, they should already have that information in their dispute stash and may be able to get a better outcome for you than if you were to do it on your own.

So how do you choose a reliable credit repair company?

  • Look for a good reputation online – online reviews, top lists, etc.
  • Have a reputable business history
  • Reveals all costs and charges – no hidden fees
  • Straightforward with procedures and practices before signing up

As we know, time is very precious and limited. You have to decide whether your time is more valuable elsewhere. If you do, you can find a credit repair company that charges a reasonable amount and can take the load off from your hands to help turn your credit around. This way, you will have that extra time to do all of the DIY projects you have on your list!

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