Is Do It Yourself Credit Repair Right For You?

Do it yourself credit repair is not for everyone.  There are many companies offering kits that provide guidelines, sample letters and “easy step by step” instructions.  The fact of the matter is, unless you already have an understanding of how credit repair works and you have an enormous amount of patience and a high tolerance for frustration, then there is no such thing as “easy steps”.

Attempting to repair credit by yourself first requires that you understand how credit reporting agencies work.  That in its’ self could be a “do it yourself” book.  Secondly you have to understand what your rights are under the Fair Credit Reporting Act and the Fair Debt Collection Practices Act.  Try visiting the FTC site and understanding their interpretation of these two acts.

Lastly you have to have the time to pursue your repair efforts.  This is not a one time shot where you mail off some letters and 30 days later your credit is fixed.  This is an ongoing battle that will literally take months to complete.  If you have other things going on in your life like a family, second job, or other commitment that requires your time, you are going to have to take some time away from that and devote it to your credit repair campaign.

There are alternatives to doing it yourself.

You can hire someone to do this for you but buyers beware.  If you approach a debt settlement or debt negotiation firm be particularly careful with whom you deal with.  There are now over 2,000 debt settlement companies in the U.S. all claiming to be able to reduce your debt in half.  The important thing to remember is they are claiming they can reduce your debt, not repair your credit.  While there are some legitimate settlement and negotiation firms, many will be unable to meet their promises and they will leave your credit in a shambles.  Did I mention they are expensive?

Fees for these firms are usually based on the amount of debt and are collected up front. 

That leaves the credit repair firms and that’s a mixed bag as well but typically more ethical than the others.  Their focus is not so much reducing debt as repairing your credit record that in turn will allow you access to credit and minimizes the negative impact a bad record can have.  Again, if the claims seem too good to be true like complete repair in 30 days, stay away.

There are organizations that are truly professional and who don’t offer pie in the sky deals.  Check out the organizations and see who is on their staff and what kind of experience do they have.  Always ask for references.  Always ask for a written fee schedule.  These organizations can help repair your credit but it won’t be overnight.  Professional firms will explain this and try to set your expectations based in reality.

So if you don’t want the frustration and lost time required in doing credit repair yourself, there is effective help that is both professional and affordable.

Want to do it yourself?  Go here for some powerful, professionaly written credit repair letters!