Do Credit Repair Services Really Work?
- By Stuart Hunter
- Published 07/21/2009
- Finance
- Unrated
Stuart Hunter
Providing credit repair services since 1991, Lexington Law has helped over 500,000 clients legally take on their credit. Last year alone, Lexington Law helped clients remove over 600,000 negative items from their credit reports.
View all articles by Stuart Hunter
For every website that advocates the use of a credit repair firm, it seems like there are two more that claim credit repair services are nothing more than a farce. But when you think about it, if there really is no such thing as a real credit repair company, why are there laws regulating how a credit repair organization should operate instead of legislation outlawing the practice? Why does the FTC make the distinction on their site of "a legitimate credit repair operation" and why do they provide tips to help you shop for a credit repair service? Why if providing credit correction is such a shady practice are there large and very well-known organizations who have been doing so for decades? And why, if credit repair firms are a farce, are there so many people who have had success cleaning up bad credit with the assistance of a credit repair expert?
It should be pretty obvious that there are legitimate credit repair companies. When you take a few moments to understand more about credit repair, you will see how this is the case. Critics of credit repair companiesfrequently repeat that there's nothing a credit repair service does for you that you cannot do yourself. The critics are correct on this point.
Credit repair organizations don't do anything you can't do for yourself. You have the legal right to dispute any questionable listings in your credit reports directly with the credit bureaus. You also have the right to work with your individual creditors to try to get them to stop reporting negative accounts
on your credit file or start reporting positive items. You also have an assortment of rights under the FCBA and the FDCPA to forcefully request that creditors and collections agencies stop reporting negative items and all of this can be done by yourself, in the comfort of your own home, and at very little monetary cost. Of course, this could be said for many services you pay for already.
Credit correction companies perform these tasks for you. Much like a mechanic you pay to a lawyer to represent you in court, you are employing a credit repair service to perform a service you have the right to perform for yourself. But as is also the case with the other services, when using a credit repair firm you are taking advantage of their knowledge and experience. And in the end, you will probably end up with better results achieved in less time than if you had elected to do the job on your own. In many cases, this saved time, effort, and frustration outweighs the cost of attempting to do the job yourself.
Credit repair works; the countless number of people out there who have increased their credit scores after working to repair their credit is evidence of that. And since credit repair firms perform the same credit repair tasks for you, as long as you select a reputable credit repair law firm like Lexington Law to lend you a hand, using a credit repair service works as well if not better than working to clean up your credit report yourself.
It should be pretty obvious that there are legitimate credit repair companies. When you take a few moments to understand more about credit repair, you will see how this is the case. Critics of credit repair companiesfrequently repeat that there's nothing a credit repair service does for you that you cannot do yourself. The critics are correct on this point.
Credit repair organizations don't do anything you can't do for yourself. You have the legal right to dispute any questionable listings in your credit reports directly with the credit bureaus. You also have the right to work with your individual creditors to try to get them to stop reporting negative accounts
Credit correction companies perform these tasks for you. Much like a mechanic you pay to a lawyer to represent you in court, you are employing a credit repair service to perform a service you have the right to perform for yourself. But as is also the case with the other services, when using a credit repair firm you are taking advantage of their knowledge and experience. And in the end, you will probably end up with better results achieved in less time than if you had elected to do the job on your own. In many cases, this saved time, effort, and frustration outweighs the cost of attempting to do the job yourself.
Credit repair works; the countless number of people out there who have increased their credit scores after working to repair their credit is evidence of that. And since credit repair firms perform the same credit repair tasks for you, as long as you select a reputable credit repair law firm like Lexington Law to lend you a hand, using a credit repair service works as well if not better than working to clean up your credit report yourself.
