Need Credit Help? Learn What Credit Repair Services Are Available to You
The anxiety of doing it alone can make credit repair a daunting task. While many people choose to clean up their own credit, others opt to work with professionals that offer credit repair services. "Credit help" is a broad term; read on to get some specifics.
Who offers credit repair services?
There are hundreds of credit repair companies that offer credit help to consumers. These companies employ professionals who work on their clients’ behalf to resolve issues with creditors and credit reporting companies. Many people use these companies for credit help because of their experience within the industry, which can ease and even shorten the dispute process.
Credit counselors are another option for those seeking credit help. While some may offer credit repair services, a credit counselor’s primary goal is to help their clients understand and maintain good credit. Credit counselors provide education related to scheduling payments, account types that improve scores, how to pay down debt, etc. Many credit repair companies offer credit counseling as an additional credit repair service.
What are my options?
Depending on your needs, there are numerous avenues of credit help. For example, debt consolidation is a potential solution for people with a variety of unsecured debt such as student loans, credit card balances, medical bills, etc. Each of these debts carries an interest rate; consolidation offers a way to lump debts into one payment with one interest rate. For those who cannot consolidate, restructuring payments may be an option. Most creditors will work with customers who are experiencing financial hardship.
How long will it take?
Credit repair is a lengthy process, and there is no guaranteed time frame of success. It is important for those seeking credit help to be wary of companies that advertise quick results. Credit repair services offer solutions, but none are overnight. If you choose to work with a credit repair company, do your homework. Make sure you are working with professionals with a proven reputation.
Assess your situation. Do you want to fix your own credit, or would you benefit from additional credit help? Do you need help understanding the ins and outs of credit scoring? What types of accounts do you have? Are you having trouble paying your bills? These are few of the many questions you should ask yourself during the credit repair process. The answers will determine whether you seek additional credit help, and from whom.