National Credit Repair – 4 Tips To Save Money
When it comes to relying on a paid professional to help you with your credit, it is definitely a case of buyer beware. Do your homework so you don’t get hooked up with the bottom feeders I mentioned above.
Here are some things to keep in mind:
1. Don’t let anyone tell you that they can remove accurate, but negative, items from your credit report. They can’t. If the information is incorrect it can be removed, but if it’s accurate it will stay on your report for up to 10 years (bankruptcies). Even if you’ve paid off a bill the late payments will stay on your report.
2. A credit repair company, by law, must provide you with a written contract explaining all your legal rights. You also have 3 days to cancel the contract after it’s signed if you have second thoughts. If you are dealing with a non-profit group, or the creditor directly, the same rules don’t apply
3. Don’t respond to an email unless you’re the one who initiated the contact. Many disreputable companies will try to catch desperate consumers off guard. Make sure that you do detailed research on any company before you hire them to help with your credit issues. You don’t want to get yourself in more trouble by spending a lot of money on ‘credit help’, money that you might have just used to pay down some bills.
4. Don’t forget, a lot of credit repair can be done by you. It’s not that hard. Just request a copy of your credit reports and your FICO score from all three credit bureaus. Check them over carefully for any mistakes and make a written request that those mistakes be corrected. The credit bureau must comply within 30 days. Be prepared to provide proof that what you say is true and that a particular item really is a mistake. This one step can raise your score significantly in as little as a month.
Even if there are no mistakes, if you can explain why you fell behind on your payments that may make a difference. You can request that an explanation be added to your credit report. For example, if you had a good history until you got sick and got overwhelmed with medical bills you can request that that information be added to your report. It may help mitigate some of the negatives on your report in the eyes of a potential lender.
If you choose to hire a credit repair company keep the tips above in mind so you don’t get involved with an unscrupulous company who will just make things worse. National credit repair has a solid reputation of helping their clients finally get back on solid footing financially, maybe they can help you too.