By Tara R Jett
A credit repair service is a company that helps people to repair their credit scores as quickly as possible, usually within a few months. It would probably take a lot longer - sometimes even more than a year - if you tried to do it yourself. The most important thing to remember when looking for a credit repair service is to take your time. It's a marathon, not a sprint.
Repairing a poor credit report requires considerable time and resources, so you need to get a company that is not only dedicated to helping you, but also has a good reputation. Here we look at some things you need to consider to be certain that you choose a good credit repair company.
One of the main concerns when looking for a credit repair company is safety. Well-established credit repair companies will not insist that you wire money to them. They won't require you to make cash deposits to their accounts or have you send non-refundable fees. They accept payments the same way a typical legitimate business does - through debit cards, credit cards or cheques.
These are the same trusted methods of payment you make use of everywhere else. Moreover, the credit companies should have good fraud protection systems to ensure your safety of your credit card information.
The services you expect
You need to determine the reasoning behind the services offered. Of what value are they? What exactly will they clear from your credit record? How long will it take? Do they have a portfolio of their previous work? These are some of the questions you need to ask not only the fast credit repair company, but also yourself as you look for professional assistance.
A good company stands out in many ways. They might show you an in-depth video detailing the credit report of a consumer. This would be useful in helping you see the differences. They will typically go over how the credit report looked at a certain time highlighting improvements that were made thereafter. A timeframe of a few months is reasonable. A good company will also take time to explain the basics of the ways in which they can help you in order to build trust.
How it all works
After using the screening guidelines above, you'll probably be inching closer to a reliable credit repair service to help you with your credit report. But how does it all work?
Leading credit repair companies use government laws to represent your fairly to the credit reporting bureau. They use the Fair Debt Collection Practices Act, the Fair Credit Reporting Act, and the Fair Credit Billing Act.
Extensive knowledge and understanding of these laws enables the credit repair company to legally and confidently challenge items on your credit report. Credit agencies are required by law to respond to your dispute claims within 30 days of lodging the claim. You should therefore see results on your credit file within thirty to forty-five days.
Tara R. Jett is a contributing writer to a number of personal finance websites aimed at providing expert financial advice to ordinary folk. Her articles cover everything from secret discounts on travel to fast credit repair services.