While some credit repair companies are outright frauds,
others are not frauds and they use the dispute process to
obtain impressive results. In fact, they delete thousands
of negative credit listings every day.
Unfortunately, it's risky to trust anyone to help you
repair your credit. The majority of credit repair
companies were started by entrepreneurs with a penchant
for marketing. Consumers have flocked to these "credit
doctors" only to discover that their advertisements proved
far more impressive than their results. Hiring a credit
repair company is like playing Russian roulette as in most
cases "you get what you pay for" and once you have a
lesser experienced company hack away at your credit file,
it's almost near to impossible for a good company to help
you at all.
Working within the credit bureau maze requires substantial
background knowledge; knowledge it takes credit repair
companies years to learn. In fact, U.S. District Court
Judge J. Wexler entered the following legal opinion in the
Federal Supplement. "Since allowing third parties to
assist consumers will likely lead to the expedited
correction of credit reports, it will further the purposes
of the [Fair Credit Reporting] Acts."
So, can credit repair companies
really guarantee results?
Not a chance! No credit repair company is so good that it
can guarantee a specific outcome. It would be like a
defense lawyer guaranteeing that the jury will find his
client innocent. Guarantees are a sure sign of credit
repair fraud. A warranty, where the credit repair company
promises a refund if certain results don't occur, is a
better, more realistic claim.
Not surprisingly, the credit bureaus have declared war
against the credit repair companies and those selling
instruction on how to do-it-yourself. The bureaus lambaste
credit repair companies in the media and send anti-credit
repair literature to anyone whom they suspect of using
credit repair services. The bureaus unflinchingly deny
that accurate information can be removed from a credit
report.
The simple truth is that you don't have to endure bad
credit for seven to ten years. It is possible to repair
your credit within a much shorter time.
However you decide to address your credit challenges,
realize that regardless of what you may hear in the news
media, thousands before you have sought help and
repaired their
credit by HTDI Financial.
