It makes sense to weigh all your options before just diving into credit repair. You can tackle it on your own, or you could pay a company to do it for you. But what are the pros and cons of both? That is the big thing to know.
The pros of signing on with a credit repair company for credit repair are fairly clear:
You donít have to figure anything out. (Well, you might want to think that, but most credit repair clinics require a fair bit of effort from you.)
It can all be done sooner. (Once again, you might want to think this, but with the availability of free credit repair help online, you can accomplish what a credit repair clinic can do and just as fast.)
The downsides of going to a credit repair clinic are perhaps pretty obvious too:
They are expensive. You will end up paying $500 - $1500 to get your credit improved.
You still have to do a fair amount of work yourself.
The positive things about doing self credit repair:
It costs nothing, and if you know where to find assistance, it can be simple.
You are in control.
You wonít feel like you are getting worked over. (A major credit repair agency sent out an email awhile ago bragging about how their credit repair personnel made more per hour than Johnny Cochran made when he represented OJ because Cochran only made five hundred an hour and most credit repair customers pay $600 - and it only takes the credit repair agency 30 minutes per customer! Doh!)
The downsides of undertaking self credit repair:
It will require a time investment to figure the process out. It will be more than 30 minutes, but you will also save yourself a big chunk of change that would be better put toward something important Ė like a mortgage.
You will have to use a printer, postage and envelopes.
You will need a copy of your credit report.
In the end, self credit repair is the place to start. If you have incorrect things on your report and if you produce your credit dispute letters correctly, you are going to see these items fixed.
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