Getting the Most Out of Your Credit Repair Company
If you hired a credit repair company to help you work to improve your credit score, it's reasonable to expect results you could not have easily attained yourself. After all, they have the resources and expertise at their fingertips. Most people hire a credit repair company because they do not have the time or knowledge to invest in their own credit repair, but few consider the services a reputable credit repair company should offer. Before hiring representation, make sure you're getting the most for your money.
The facets of credit scoring consider a combination of ratios and factors, one of which that directly affects the rest: your federal rights. It is your attorney's responsibility to understand the ins-and-outs of the Fair Credit Reporting Act (FCRA) and how it pertains to your specific case.
In addition to legal guidance, your credit repair company serves as the middleman between you and the credit bureaus. It is the law firm's responsibility to file letters of dispute and other forms of correspondence on your behalf. These letters should contain opposition to any questionable negative items affecting your score. Similarly, your credit repair company should offer the option to provide creditor intervention services as well. This means that your creditor will be contacted directly in the hope of resolving a dispute. Most creditors value their customer relations, thereby making this a feasible way to resolve credit disputes more quickly.
Your credit repair company should offer the option to assess your current debt and active accounts and always be looking for ways to utilize opportunities to improve your score. These "score-makers and score-breakers" possess elements that could potentially help or hurt your score. Is your score suffering because of an active company account that is notorious for offering lines of credit to those with credit low scores? Are your credit card balances exceeding the point where they help your score? Your credit repair company should have the answers to these questions and should be prepared to help guide you to make necessary changes to improve all elements of your credit score.
Overall, you are paying a credit repair company because you want results. Improving your credit score is not an easy or quick fix; no one can do it overnight. You are placing your financial report card in someone else's hands because you believe they can do a better job repairing it. Before hiring a credit repair company, consider the points mentioned above and make sure you get the most out of your efforts to improve your credit score.