Do it Yourself Credit Repair Vs. Using a Credit Repair Service

The current state of our nation’s economy has many consumers reevaluating their financial situation and seeking ways to improve upon it. And while the need for credit repair is garnering increased awareness (after all, it can help consumers acquire better rates on home mortgages and car loans, and even affect employment opportunities), how to go about repairing your credit can be a frustrating, bewildering and downright overwhelming process.

While the title of this article implies that there’s one of two ways to go about credit repair (DIY or credit repair service), the truth is that the best approach is a combination of the two. However, without a dedicated effort on the part of the consumer, no credit repair service will be able to single-handedly improve a credit report or score. (Any credit repair service that offers a 100% guarantee is not being truthful, and should be avoided.) Credit repair is a team effort that requires patience and determination from both the consumer and the credit repair service. A good credit repair service can provide guidelines, consultation and a strong game plan, but it is you, the consumer, that is ultimately in control of your own financial destiny.

Credit repair is really no different than any other kind of repair in that, if you want, you can do it yourself. You can also repair your car or do your taxes by yourself, if you want, but few consumers choose to do so because of time constraints and a lack of accountability. On that same note, just because you’ve entrusted your vehicle to a mechanic or your taxes to an accountant doesn’t mean you want to turn your back on the matter altogether. More often than not, you work with the person repairing (or preparing) to make sure that none of the actions taken, or repairs made, are against your will. Credit repair should be approached in the same manner.

Good, credible credit repair companies aren’t pulling your leg when they tell you that credit repair can be difficult. To start, reparation may mean contacting dozens — or even hundreds — of creditors and the three major credit bureaus, depending on the specific details of a person’s credit report. Each dispute requires a written letter of inquiry, and it can take 30 to 45 days after a creditor has received the dispute just to review the letter and respond.

Furthermore, consumer rights, as well as credit laws and policies, are constantly changing, making it difficult for the average consumer to stay up-to-date with current procedures. However, accredited, trusted credit repair services tend to be proactive when it comes to credit law, reviewing new policies and procedures on a regular basis in order to ensure compliance.

Aside from credibility, accuracy and efficiency, credit repair services usually provide convenience. Because more often than not, do it yourself efforts are bogged down by a lack of time, experience and knowledge of credit laws and policies. Legitimate credit repair services are a trusted alternative that are usually worth their value in the long run.

Ultimately, whether or not you pay for a credit repair service is entirely up to you, but be sure to take into consideration all the variables of credit repair when making your decision. Many credit repair services offer a free consultation, so if you’re not sure you should take advantage of this offer so that you might better determine your options. After all, credit repair is very important, but so, too, is doing it right.