Credit repair refers to any kind of legal measure that you or a service provider can take to remove negative elements from your credit reports to increase your score. Since not all of these services are legitimate, it is important to understand your rights. Even if you can try to repair loans yourself, it is better to work with professionals with legal experience who have better chances of success in dealing with your creditors and credit bureaus. How do you know which are the real, legitimate credit repair services?
First, you need to familiarize yourself with the Credit Repair Organization Act (CROA). This law protects consumers from illegal acts by credit repair companies. Here are some things you need to know about your rights:
• Let a company communicate all of your legal rights and the details of the services it provides in writing
• You should get a money back guarantee.
• Your advice should be FREE and as personal as possible.
• You shouldn’t get any specific promises. When it comes to credit repair, nothing can be 100% certain.
• You should never be expected to raise money in advance. No legitimate credit repair service will try to charge you immediately. The only guarantee you should get is the money back guarantee.
• A legitimate company typically has lawyers and legal professionals on its network and does not suggest solutions or techniques that are not 100% legal.
Guarantees for legitimate credit repair services
Even though no company can guarantee certain results, they can display results from previous customers (with customer approval) and give you an idea of what they have done in the past and what they will do to help you. Any money you end up paying to a legitimate company is probably a lot less than the money you can lose if you have bad credit. You may not even be able to rent or buy a house if your credit is bad! You may also have trouble finding a job in some places.
The credit bureaus and credit card companies will take your case more seriously if you have a legitimate company on your behalf. This really increases your chances of having your balance cleaned up in less time than if you were to do everything on your own.
Where can you find legitimate credit repair services? One company that always seems to get positive customer reviews is Lexington Law. The paralegals working on cases can communicate very well. You will be kept up to date with every step.