|
Millions of Americans suffer because of bad
credit these days, and almost all of these
people turn to the Internet for help. In the
past 5 years hundreds of 'internet-based' credit
repair services have sprung up , preying on
consumers in need of real help. Most of these
companies have built less than desirable
reputations by over-promising and
under-delivering; all the while taking millions
of dollars from those in need.
For this week's article I am going to compare
'internet based' credit repair services to
repairing your credit yourself using a system
like Loan Saver PRO: for Consumers; you can
learn more about their system here -
http://www.loansaverpro.com/index-1.html.
Hopefully I will open your eyes to the fact that
you can do everything they can do, for far less
money, and achieve even better results in far
less time.
Cost Comparison
Credit Repair Service &endash; Almost every
credit repair company found on the internet
charges a set-up fee of at least $60 and an
ongoing monthly fee of at least $49. They
initially tell you that your credit repair work
will probably take around 3 months to complete.
In reality, your credit repair work ends up
taking close to a year or more and now you've
paid them at least $600. The goal of most credit
repair services is to take their time repairing
your credit so they can keep debiting your bank
account.
Do-It Yourself Credit Repair &endash; There
are several 'do-it-yourself' credit repair
systems found on the internet. Most of these
systems cost no more than $40, which is less
than the set-up fees for most credit repair
services, plus there is no monthly fee. Some of
these products are good and some are
bad&emdash;whichever one you choose, don't use a
'do-it-yourself' system that uses 'pre-made'
letters to launch disputes; I'll explain this in
more detail below.
Dispute Letters
Credit Repair Service &endash; Almost every
'internet based' credit repair service, and some
'do-it-yourself' credit repair systems, use
'pre-made' attorney letters to dispute
information on your credit report. Using these
types of letters often raises major red flags at
the credit bureau level and may result in your
dispute request being denied. How do you know if
your dispute has been denied? You'll know when
you receive a 'Will Not Take Action' letter from
the credit bureaus.
Do-It Yourself Credit Repair &endash; There
are two primary ways you can dispute negative
items on your credit report. One way is to write
several original letters to the credit bureaus,
which can take several hours to complete and
adds weeks onto the credit repair process.
The second and easiest way to dispute
negative items on your credit report, is to
launch your disputes online. The credit repair
system that I helped develop, Loan Saver PRO,
shows you step-by-step how to order the right
credit reports (yes, there are some wrong ones),
launch effective online disputes, and manage the
whole credit repair process.
Results
Credit Repair Service &endash; If it sounds
too good to be true, it probably is. To get your
scores into the 800's would take over 10 years
of perfect credit, so don't believe it.
'Internet based' credit repair services will
also try to tell you where your score will be in
30-60 days and that's impossible to predict.
Also, any credit repair service that promotes
pipe dreams of a new car and a new house is not
to be trusted; unless of course they plan on
loaning you the down payment.
Do-It Yourself Credit Repair &endash; A
reputable 'do-it-yourself' credit repair system
should never promise a certain score. However, I
will promise that if you decide to use a
reputable 'do-it-yourself' credit repair system,
and are patient, your scores will increase
significantly. On average, I have seen the Loan
Saver PRO credit repair system raise scores into
the high 600's and low 700's. With those scores,
you can likely get any loan or credit card you
desire, and at the best rates possible.
Again, I hope the above information will help
you make a better decision when deciding what to
do regarding your credit situation. If you still
decide to work with an 'internet based' credit
repair service, make sure you do your research,
and don't say I didn't warn you.
|
