DIY Credit Repair vs Professional

When it comes to your credit health, the options for repair are as varied as your financial history itself. This article delves into the intriguing comparison between DIY credit repair and seeking professional assistance. We’ll explore the benefits and drawbacks of each approach, guide you through the steps of both paths, and help you make an informed decision that aligns with your goals and circumstances.

Understanding the Basics

Before delving into the nitty-gritty, it’s crucial to understand the fundamental concepts. DIY credit repair involves taking matters into your own hands, using resources and knowledge to challenge inaccuracies and improve your credit profile. You will need to become a pro on the details of the Fair Credit Reporting Act. On the other hand, professional credit repair services are offered by experts who navigate the complexities of credit reporting, dispute processes, and negotiations on your behalf.

Pros and Cons of DIY Credit Repair

The allure of DIY credit repair lies in the empowerment it offers. You become the driver of your credit destiny, learning about credit reports, dispute techniques, and building negotiation skills. However, this route demands a lot of time, dedication, and a thorough understanding of the credit system. The how’s & why’s it is reported on your credit report. Missteps could potentially prolong your credit woes.

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Why Knowing Your Credit Score Can Save You From Bankruptcy

A copy of your credit score is a great way to know if you are in debt or not. Many people don't keep track of their credit score and end up in deep debt. Your credit score will be affected if you default on a payment or are late with payments. Credit scores are used by lenders and creditors to determine how trustable you are to repay your loans and...

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Credit Restoration Companies Get A Bad Rap!

 

Why is it that all credit repair companies have a bad rap these days? The last time I checked Ruth’s Chris Steakhouse wasn’t getting yelled for a poorly cooked steak, or McDonalds making a bad burger!(well okay maybe that’s true – but you get the idea) Credit repair companies are not all created the same. Sure there are better companies than others but all credit counseling companies aren’t bad. Unquestioningly there have been some rotten burgers in the credit repair business, some so bad you’d have food poisoning for days, but the whole of the industry itself is out to help consumers - not hurt.

 

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Don’t think you need a credit counselor?

 

So you think you know how to fix your credit on your own? Thinking you’ll close your credit cards to boost your score? Not always. Well surely if you pay off that four-year-old collection account your credit will sky rocket right away! Probably not. Sounds crazy right? Well the way credit is scored IS pretty crazy and that’s why we are here to help.

 

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Think speeding tickets only hurt your car insurance?

 

Desperate times call for desperate measures and cities around the nation are getting pretty desperate. Thanks to those speed monitoring camera vans and red light cameras, cities have been able to cite drivers in record numbers. If you’re like thousands of drivers you’ve probably thrown those tickets right in the trash – I mean – never received them. In the past you’ve likely gotten away with the “well they can’t prove I ever received it” excuse, but as strains on the economy pressure the state and city budgets you can bet that they will be trying a bit harder to collect. You still may not ever have a court server knocking at your door to hand you your ticket directly because hiring those guys cost some serious cash, so now you may just have your ticket sent to collections. Ouch.

 

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What are the long-term effects of a short sale?

 

Whether you’re considering a short sale or you’ve just gone through one, it’s time to take a deep breath and take stock of where you stand today. You’re clearly not the only one in the short sale boat. But do you ever get that feeling when everyone around you is going through something like a short sale, a yearly physical, sitting at the DMV, or filing taxes, that you have no idea how everyone is getting through this painful and frustrating experience? You know, that, “am I doing something wrong because this really sucks?” feeling? Then yea, you’re likely experiencing exactly what everyone else is going through.

 

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Considering a Store Card for the Holidays?

 

Though the Christmas and holiday decorations have been slowly creeping up on store shelves for the past couple of months, the tinsel and evergreen is now front and center in just about every store. The holiday season is upon us! Everyone’s budgets are a bit tight this year but we still have all those gifts to buy no matter what the economy has to say about it. You’ll probably be tempted the next time you come face to face with a cashier, “would you like to save 15% by applying for a –insert store name here – card today?” Normally you’d just brush off this sales pitch but today that 15% and a deferred payment is sounding pretty tempting. Don’t do anything rash, wait a minute!

 

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How can I get out of my parents’ house?

 

Mom and Dad are great, but not necessarily the best roommates. Even if you have the best relationship imaginable with your family there are certainly disadvantages to still crashing in your childhood bedroom. It’s a little hard to bring over a special new friend on Friday nights and you can kiss any prospect of privacy goodbye.

 

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For an FHA or VA loan, do credit scores matter or not?

 

Both FHA (Federal Housing Agency) and VA (Veterans Administration) are types of loans secured by the United States, that’s for sure. But in order to get one of these loans you have to be approved by a bank or mortgage company first. This essentially is what makes the home financing process so difficult! Let me see if I can break it down.

 

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