Whether you need a credit repair service or not will become very clear shortly. But first, I want you to understand what a credit repair service is and how they are supposed to operate. A credit repair service is a company that helps you improve your credit score with a combination of advice, education, and various dispute processes designed to enforce the Fair Credit Reporting Act on your behalf. Of course, like any service provider, they are not created equal. In fact, most are very expensive and mostly ineffective. For the credit repair service I recommend, click here.
If you are a do-it-yourself type person, feel free to give a shot on your own, just know this…once you start the credit repair process on your own, it will be much less effective to use a credit repair service afterward. So, make sure you’re in it for the long-haul because your chances for a successful third-party credit repair will be decreased significantly the moment you first correspond with the Credit Bureaus (Equifax, TransUnion, & Experian).
You need a credit repair service if any of the following are true:
– Your credit score is below 720. Remember, 720 is the median score in the United States. Your credit score needs to be above 720 or you are in the bottom half of the population.
– Your credit scores vary by more than 50 points from one credit bureau to another. For example, if your credit scores are 702-698-641, then it’s a red flag something is wrong with one of the bureaus. This happens quite frequently. It’s much more likely for one credit bureau to make a mistake than all three at the same time. Sometimes the three scores vary significantly from each other like this: 702-651-599. If that’s the case, you need a good credit repair service yesterday.
– You have erroneous items on your credit report. Errors happen regularly on credit reports. This mostly has to do with the process by which your credit report is created, but I’ll save that speech for another day. In my personal research project, I helped over 850 people with their credit reports. We found that almost 800 people had errors on their credit reports. This is why you will often hear me say that I believe 9 out of 10 people have errors on their credit reports. Credit reporting errors can be fixed with a good credit repair service.
– You have a lot of small collections on your credit report. Smaller collections seem to come in bunches, but the good news is, many of them will not validate when run through a good credit repair service. It becomes too much work for the creditor when there isn’t much money on the line and validating the account doesn’t get them paid, it only continues to give them the best chance to eventually get paid.
There are too many reasons why someone would need a credit repair service to mention them all, but these are the main and most important circumstances. I will always help you any way I can for free, so if you have questions about your credit report or your credit score, just use the contact form below.
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