Bad Credit Repair: Retain a Lawyer or Do It Yourself?

Chances are you may have heard that bad credit score restoration is impossible or perhaps is unlawful. Repairing a bad credit score is possible, if you retain a law firm that makes a specialty of credit repair, this can get completed within the law.

When you utilize an agency that isn’t a law firm, then there’s a chance they may be offering something that’s potentially unsuccessful or even illegal. The most reliable solution to feel at ease knowing all of the credit repair information and facts you get is regarded as legal, correct, and helpful, is to always hire a law practice or a credit repair agency that is in good standing with the BBB (Better Business Bureau).

Don’t Trust Just Anyone

Not all law offices are skilled with dealing with credit repair issues, so be sure to specifically seek out a law firm that specializes in credit repair.

Also be wary of agencies that declare that they can perform poor credit history repair by a specific time. This is a definite red flag for a scam! Results and time frames will vary, so they can only give you an estimate time of completion, not a guaranteed time.

In addition, be advised that “no credit repair organization may charge or receive any money or other valuable consideration for the performance of any service which the credit repair organization has agreed to perform for any consumer before such service is fully performed.” These are the exact words from the link on the FTC website for the Credit Repair Organizations Act.

No credit repair organization may charge or receive any money or other valuable consideration for the performance of any service which the credit repair organization has agreed to perform for any consumer before such service is fully performed.

Benefits of Credit Repair

Whether it’s referred to as “troubling”, “less than perfect” or maybe just “terrible credit”, anyone with a credit rating under 680 can benefit from credit report repair.

The reason why? Primarily because creditors impose greater than standard interest rates to those who have got what they call “sub-prime” credit ratings.

Also, an improved credit profile can boost your image, eliminate a ton of stress in your life, and make you feel better about yourself overall.

In addition, it could even land you a new or better job, being that employers these days now tend to run credit checks on applicants because the just don’t trust people with bad credit reports as they feel this speaks volumes to your character. May not sound fair, but that’s just how it is.

For these reasons alone, bad credit repair is truly a worthwhile investment.

First Things First

Nothing will be achieved for those who are already overdue with charge card or loan obligations to your current lenders. Even when you may possibly require debt relief or credit counseling, you will not require any credit repair information before you can get these problems behind you.

A credit counselor, while valuable for anyone who is in too deep, isn’t actually identical to poor credit report repair. Even in the event you may already have experienced a personal bankruptcy, bad credit score repair could possibly be incredibly helpful.

DIY Credit Repair

It’s usually conceivable to discover how to repair credit all by yourself, nonetheless, it is likely to be time-consuming, frustrating and also unsuccessful. You’ll not be familiar with all the things that you could possibly achieve unless you contact a legal professional that is an expert in poor credit score repair.

The credit repair guidelines which are available from credit bureaus and state or federal agencies will only describe a few of your options, such as the best way to report inaccuracies. In some cases, accounts might not be taken off promptly, although the credit agency states this is not the case.

For those that are unable to sign up with a law office, you can start repairing your credit rating by merely creating a dispute letter which disputes any and all inaccurate accounts that are detailed inside the report and next sending it to the corresponding consumer credit agency (or filing a dispute directly inside your credit reports) that will typically have up to 45 days to reply.

Keep Your Composure and Remain Professional

You should leave all emotion out of the letters and make the appeal in uncomplicated terms. You may need to create a follow-up document, in the event the consumer credit bureau does not reply in a timely fashion.

This message also needs to be unemotional and merely express that you have waited a reasonable length of time (30-45 days) and you simply want to have all of the incorrect items deleted promptly as well as an up-to-date copy of this document sent to your address.

In Closing

When there’s anyone offering something deemed a credit repair kit, have a look at the particular contents and the level of service they’re offering you before buying it. The previous credit repair information (in regards to dispute letter, follow-up and so forth) is what they’re ordinarily selling.

And any time you yourself have been able to generate satisfactory outcomes, you are that much closer to restoring your credit score. If a credit agency doesn’t respond to your follow-up letter(s), the only real solution that is still available to you would be get in touch with a law firm and allow them to use their professionalism, skills and contacts to handle it for you.

28 Replies to “Bad Credit Repair: Retain a Lawyer or Do It Yourself?”

  1. Wow! This was just what I needed to know in order to convince myself for hiring a lawyer. I was gonna try and repair the credit myself with all the info out there. But after reading this post and some of the comments, I consider now a better option to hire a lawyer or an agency. It will definitely give me a piece of mind. Thanks!

  2. Thank you for the interesting article and advices.
    I’ll personally go for the DIY solution first as professional law firms will charge you for money you don’t have yet.
    Even if they obviously have more knowledge and experience about credit repair than common people.

  3. For peace of mind, it is wise for people to connect with experts in the field of credit repairs. This step should be especially desireable for lay people that do not have much knowldge about building/fixing their credit scores or credit rating.

  4. Overdue credit and loan obligations can be quiet hasslesome and an unnecessary burden. Therefore, appropriate steps must be taken to relieve oneself from such hassle. And I personally agree that, although having a poor credit score repair is a good idea too, having a credit counseller, who reports regularly on your credit to you, is highly beneficial since I myself have a credit counseller and I find it highly uselful.

  5. I think people should screen on case per case based, if the issue is quite serious meaning big credits or other legal matters involved it’s safe to hire/retain a lawyer. Especially if you’re not a citizen of the country seeking for bad credit settlement due to bad business results or personal issue.

  6. Having bad credit can really have a bad impression. And for most people I believe hiring professionals can be a better option but if you’re knowledgeable about the subject and have experience you should do it yourself. This is a really good post that talks about repairing bad credit and does so in understandable terms so that nothing really flies over your head and honestly, brought a lot of things to my attention.

  7. Having a professional’s help is certainly a fine way if u ask me, but it is also true that not all offices are skilled. Using DIY route can be unsuccessful and hard so its better to seek professional help. As far as it goes, we also cannot deny that professional do charge more money which leave us with no other choice than seeking less professionally skilled offices which offer services in low charges. So, it would be delightful if you provide us a proper way for DIY route. It would be very helpful for us.

    1. I did. Get your credit report(s) and file right within your report if you believe you don’t owe the debt (or it is an unfair debt).

  8. I peronally think this article will build a necessary awarness about credit rating, that some other never even considered. For my self DIY route is the best route and eventually we need to learn our problem event we choose to get some help from a credit repair organization or a law firm

  9. To me, it almost seems like you’d be digging a deeper hole by hiring a lawyer to improve your credit. You’re already in debt, and now you’re spending even more money on something that may or may not help. However, I do understand that in some cases it would be a good option. I think it’s a case by case type of thing. I do think it’s worth it to be educated on what credit companies can and cannot fault your credit for, and staying aware of what is on your credit report, as sometimes there are mistakes. Like the article says, you can file a dispute letter. I think that would be the best first step for anyone trying to improve their credit.

  10. It is a common sense that people who retain lawyer should be aware about no credit repair organization can charge you any money or other valuable considerations before the service is fully performed. People tend to jump into conclusion that well-known credit repair organization won’t inflict you with this. I think even reputable credit repair organization possibly charge you though the chance is low.

  11. I can imagine how frustrating and time consuming it is with the DIY route, especially when you know next to nothing about finance and credit related issues. Yeah, I would probably go with a lawyer to help me with everything, even if it costs me more money.

  12. It is utmost true that the “DIY Credit Repair” is troublesome and time consuming. Even though some may be simply cleared because of small misunderstandings, fixing a bad credit repair requires legal and financial expertise– hat we should also resort into hiring someone from the law firm. This article had made me want to venture more in this pursuit, as a future business person myself.

    1. Yes it definitely requires time and discipline to try to do it yourself, and everybody doesn’t have that. Thank you for your comment Bernadette.

  13. Does anything happens if your credit agency doesn’t respond to you within the 45-day period? For example, say the FTC got involved and shut them down for malfeasance — would your credit still be repaired, or would you have to seek another alternative?

    1. If your creditor doesn’t respond to you within the allotted time, then no, your credit won’t be “repaired”. But by law, that negative item must be removed from your credit report in this case (being that they didn’t prove that you owed the money) – which in turn will improve your credit, sometimes a little or a lot depending on how big that item was weighing on your credit profile.

  14. Seeking the services of a professional and reliable law firm to mediate on your behalf if the credit agency doesn’t respond to you is a viable solution. But with how things go these days, finding a good law firm that is at par with our high standards is difficult. Some law firms claim to be reputable ones, even when they are not. I think the key to finding one that you can really trust is to ask people from your personal network for recommendations.

  15. Credit repair sounds like an interesting thing. But how much would these companies charge? Will those suffering from bad credit be able to afford a credit repair firm?

  16. While some people go the DIY route, I personally believe that having professionals help you repairing bad credit is a better option. Though getting them may mean you will need to spend some money, I agree with what the article says and that the “skills and contacts” of these professionals will make everything simpler and efficient.

    1. I agree with Mark. Tapping a reputable credit company to fix one’s credit issues is a big plus because they have all the available information you may not know. However, DIY credit repair could also be an option if the credit situation is simple.

  17. Hi, I’ve been working at increasing my “less than 680” credit score for the past year. After reading this and checking my credit report, I now know to dispute the lingering closed accounts that are still showing on my credit report.

  18. For lay people who are not in the finance or law industry, credit repair and issues related to it can be a nightmare indeed. It’s fair you mentioned that not all law offices are skilled in handling credit repair. What do we look for when we are searching for a law office in handling credit repair matters?

    1. Hello Kenny, thank you for your comment. We have revised and added more details and resource links in the article to address your concerns. Hope this helps.

Leave a Reply

Your email address will not be published. Required fields are marked *