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Credit Repair - Do it Yourself?

A Little Complaint

I have nothing against the credit bureaus per se, but I?m a bit annoyed at their vociferous efforts to convince consumers to attempt credit repair on their own rather than hiring a credit repair company to perform the work for them. Oh, I have no doubt that many consumers have the ability to correct the errors that appear on their own reports. As it happens I have the ability to cook my own dinner, and often do so. But from time to time I also enjoy dining out. I also believe that I could repair and service my own car, but faced with the thought of reading a repair manual, I choose to let my friendly local mechanic do the job for me.

Can You Do it?

So can you fix your own credit? Sure you can. But after dealing with the credit repair process for almost eighteen years I can tell you that unless you take the time to learn how to do the job you will be faced with a horrible amount of frustration and most likely give up the chore without ever producing much in the way of results. The information that you need to do the job is available. But please be aware that you will not get this information from the credit bureaus. We are always happy to tell people how to go about the task of fixing their credit. We are glad to help. In fact anyone taking the time to read through our blog will learn everything they need to know. We hold nothing back. Our experience has always been that the educated consumer is the best customer.

Be Aware

I should also point out that my idea of a reputable credit repair company excludes companies that charge insane amounts of money or engage in questionable practices. To put my thoughts in context, I believe that our company offers a pricing structure that is appropriate for the business at forty-nine dollars per month with no contractual obligation to continue the relationship. I don?t mention this as a selling point, but simply to provide perspective for readers that may have encountered credit repair businesses that charge well beyond this amount or insist on a long term membership. I see both of these practices as abusive.

Your Choice

I?m a bit of a do it yourself type of person. If I had the time I would read that auto repair manual. I?d be pretty happy to be in the driveway right now elbow-deep in engine oil. On the other hand I have other responsibilities and therefore have to prioritize my activities. Do you have the time and inclination to learn the steps involved with the job of credit repair? I applaud you. But if there are other things that you would rather do with your time, or if the thought of paperwork makes your skin crawl, just hire a credit repair company!

What We Do

No mystery. When you hire a good credit repair company you will give them a limited power of attorney allowing them to deal with the credit bureaus on your behalf. Before starting the repair process they will review all three of your credit reports with a trained eye and identify every single thing that can have a negative impact on your credit scores. A good credit repair business will not simply focus on the obvious derogatory issues. Neutral items that you may not notice can make an amazing difference. The credit repair company will write and send all of the dispute letters, monitor the results, and follow through as needed. It?s not rocket science. It is just a matter of diligent and informed effort. Is it worth forty-nine dollars a month? Many people think so. Many others make the effort themselves. It?s no different from any other decision in life.

A Caveat

I get asked about this on a regular basis. And I?m happy to see people making the credit repair effort. But I would really like to see everyone get the results that they deserve. If you don?t take the time to make a proper effort you are not doing yourself any favors. Your effort will produce little or no results and you will most likely give up. I?m not passing judgment on your determination or intelligence, but I talk to people all day long about credit and know from experience that dealing with the credit bureaus is something less than fun. Do it right and you will succeed. Just remember what is at stake. Your credit scores affect the cost of every dollar that you borrow. And from your credit cards to your mortgage this translates into real dollars.

Copyright ? 2007 James W. Kemish. All Content. All Rights Reserved.

Jim Kemish is the president and founder of Power Mortgage, a Florida mortgage broker based in Delray Beach, Florida. Power Mortgage Corp was established in 1989 and serves the states of Florida, Georgia, Massachusetts, and Virginia. Jim is also the President of Sky Blue Credit, a national credit repair business. For great mortgage and credit tips visit the Florida Mortgage Blog.

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