Review top credit repair benefits of using the services if a professional firm to understand if this is the right way for you to improve your credit score. Blemishes, inaccurate data, and reporting mistakes can have a dramatic, negative effect on your credit score. The same holds true for late payments, charge-offs, and collection accounts. A low credit score will make it difficult for you to get a credit card, personal loan, car loan, or home mortgage. Sometimes, it can even hurt your ability to qualify for employment. The good news is that you can fix your credit score so that you can get everything back on track. You can do this on your own. However, there are five unique credit repair benefits you can access when you enlist the help of a professional credit repair service.
Credit Repair Benefits Of Using Professional Services
1. Credit Repair Services Handle Everything
Dealing with financial difficulties causes stress, and the process of fixing those problems can add another layer of stress to the situation. That can make it difficult for you to focus on finding a solution. With a reputable credit repair service company working for you, everything is taken care of. A stress-free process is one of the top credit repair benefits when using a company. They’ll contact your creditors to negotiate settlements, erase inaccurate information, and update your account status. They’ll also deal with the credit reporting agencies to ensure your credit report reflects the positive changes made. Good credit repair companies offer the following services:
- Credit Report Review
- Preparing Letters to Credit Bureaus
- Contacting Collection Agencies
- Disputing Negative Items
- Negotiating Payoffs
- Recommending Other Actions
2. They’re Experts in Credit Law
Consumers are protected from unfair credit reporting, billing, and collection practices by federal law. Like most people, however, you’re probably not well-versed in any of the laws. You could spend the time to learn everything you need to know about the laws, but that’s not necessary. A credit repair specialist doesn’t just understand the laws governing credit. They know how to leverage them in your favor. Just some of the consumer protection laws and statutes include:
- The Fair Credit Reporting Act (FCRA)
- The Fair Debt Collections Practices Act (FDCPA)
- The Fair Credit Billing Act (FCBA)
3. They’re Skilled Negotiators
It’s a daunting task to call a creditor to negotiate a lower payoff amount, different terms, or a complete write-off of the debt. A credit repair service works with banks, lending institutions, credit card companies, collection agencies, and credit reporting bureaus on a daily basis.They know how to communicate with these professionals and how to negotiate the most beneficial agreement for all parties. Some services include:
- Negotiating a Debt’s Interest Rate and Terms
- Getting Your Payments Lowered
- Having a Debt Dismissed
- Negotiating a Discount Payoff
- Stopping Collection Actions
Following the law seems like an obvious, so it can’t be missed when listing credit repair benefits if using a professional firm.
4. They Offer Ongoing Advice and Support
Starting the moment you begin to work with a credit repair service, you have access to their expert advice and support until your credit issues are resolved. Keep in mind that the process of repairing your credit isn’t always fast. It can take several rounds of negotiations to come to an agreement. However, once a credit bureau is notified of any change to your credit history, it is required to update your credit report within 30 days. Of course, your credit repair specialist will be there to help if you have any questions before, during, or after their services. This advice includes:
- Initial Consultations and Evaluations
- Practical Debt Relief Advice
- Updates on Your Credit Repair Process
- Answers to Your Credit Questions
5. Credit Repair Services Give You a Fresh Start
Life happens, and money doesn’t always flow the way you need it to. Credit cards, loans, and other financial obligations can be difficult to meet. Missed or late payments, collection accounts, and high debts can ruin your credit score. They can also cause you huge headaches and stress. Financial mistakes don’t have to leave a permanent scar on your credit score, but they should certainly act as a lesson. By recognizing where you went wrong and correcting your mistakes, whether that’s by making your payments on time or just keeping better track of your money, you’ll improve your credit.
Is Credit Repair Right for Me?
If your credit report contains any inaccuracies or errors that you cannot seem to fix on your own, then a credit repair service may be the right answer for you. They can quickly put together a plan of action to communicate with the creditor and ensure that accurate information is reported. They’ll also follow up with the credit reporting agencies to makes sure the incorrect data is updated and corrected. It’s important to note, however, that a credit repair company cannot get legitimate negative marks removed from your report. Instead, they may be able to help you negotiate a settlement or other agreement that will improve your credit score.
How Do I Find a Credit Repair Service?
There are many companies that claim they can help you repair your credit and state the credit repair benefits, so that you can enjoy all the benefits of a higher credit score. It can be difficult, however, to choose one that’s not only reputable, but that can also do what they promise. Beware of companies that say they can remove every negative mark; they cannot. Also, be aware that no credit repair service can fix every credit problem for you.