Credit Repair Company - Are they Trustworthy?
Posted by: Justin Hazler in Finance, tags: FinanceA lot of credit repair companies say they can fix any credit report. All the person has to do is hire the company and their credit problems are fixed. Is this true?
No, fraudulent credit repair companies exist and take advantage of individuals with a low credit score. It is rumored that the fraudulent companies take millions of dollars from consumers annually.
This is done because when your credit is bad you are in a vulnerable position. You can pay high fees and interest or you fix your credit history.
Can results be guaranteed? No and when a potential credit repair company makes a guarantee this is a big red flag indicating that company to be fraudulent. I would not recommend hiring any company that makes any guarantees.
However there are credit repair companies that can be trusted. They will fight to repair your credit and are typically more effective than an individual. This is because they are familiar with the credit bureaus and how the bureaus try to avoid conducting investigations into disputed listings.
When searching for a credit repair company to hire look for refunds or warranties on results. It is also a good idea to spend a few minutes and find out what people that have used this company say about their results. This is a good indication of what you should expect.
The credit bureaus use stall tactics to avoid investigating disputes in hopes of the individual giving up on the process. They have found this to be more cost effective than to grant investigations. Furthermore the bureaus function is to give a value on the likelihood of repayment based on past behavior.
If you are tired of paying for a mistake made in the past I recommend repairing your credit. It is a good idea to hire a credit repair company that can throw their weight around and force the credit bureau to respond to the dispute process. I recommend Lexington Law firm they have been in business for over 15 years with proven results.
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