Having thousands of credit restoration companies conducting business across the country, selecting the right one can be difficult and intimidating but it is critical that you take the time required to not only find a reputable one but find one that has the knowledge, experience and ability to provide the higher level of service you expect and the optimal results you deserve. Your play should not be impulsive. Choosing a bad credit restoration organization will leave you vulnerable and increases the probability that further damage will likely be caused to your personal credit file but on the other hand, choosing a excellent credit restoration organization has the potential to be one of the best fiscal decisions of your life by dramatically cleaning up your personal credit file in addition to improving your credit score. There are numerous items to consider beyond price when reaching your decision. Recognizing the difference between price and value is definitely imperative as seeking assistance from a company in the Repair my credit marketplace is almost always a case of, “You get what you fork out for”. The following paragraphs explain the four types of credit repair businesses that make up the industry and what to expect from each.
Credit Repair Company Type 1:
The first type of credit repair company is typically a one-man show be depleted of a home office. In general, this type of company advertises extremely minimal rates for their service and will usually have unbelievable service helps ensure to top it off. It is not uncommon for this style of credit restoration organization to be a complete scam and do the consumers’ money without providing any service at all. Also, if you are dealing with a company that falls into this category that you are lucky if the only thing you lose is your money and not your identity in the process. In this day and age, identity theft is going on on epidemic proportions. Unless you know the company to be highly regarded, you should think twice before handing over your personal identification facts.
While all credit restoration organizations that fall into this category are not scams, it is very common for the individual running this type of company to be completely unaware of the compliance all consumer credit restoration organizations must adhere to. This company will typically use 3 or 4 standard dispute letters that are extremely generic and never intended to be used in every situation. Although using standard challenge letters may provide some level of positive results, their utilize also has the potential to further damage your credit. Moreover, the use of typical dispute letters usually only provides temporary results as being the negative information removed from your personal credit file will most likely reappear with your credit file the next time it is reported by the creditor.
Credit Repair Company Kind 2:
The second type of credit repair company generally appears to be much more reliable. They will have a physical office but similar to credit repair company type 1, they only use the same standard dispute correspondence mentioned above. While typically not intending to operate illegally, acquiescence issues are usually overlooked. The largest difference between credit repair company kind 1 and 2 is that the second usually makes use of an affordable software program that allows it to produce volume and handle buyers on a much larger scale. The letters used are extremely simple and for that reason, will not get the best results possible. Although this kind of credit restoration company may do a large amount of business, they may not be setup to handle consumers that have specific credit related complications. This type of credit restoration company uses more of a cookie cutter solution.