Do Credit Repair companies really work

Yes, they do. But make sure you use a reputable one. Ask around, and don't be afraid to get references and check up on them. It is always best to get an attorney who does credit restoration; there are a lot of them, and they are easy to find. Merely look in the Yellow Pages for a list of such attorneys. There are a lot of con-artists in this industry, and you need to protect yourself. Proceed only to get professional help if you cannot devote the time or attention that is needed to repair your credit. If you undertake this task in a careless manner, you will do irreparable damage to your credit file, which may be impossible to repair.

You must commit your time to this project. Expect to spend 25-50 hours per month monitoring credit correspondences, drafting query challenges, analyzing your credit reports, writing follow-up letters, answering demands for more information, and talking on the telephone to negotiate deletion of derogatory entries. Each time you contact the credit bureau, you must communicate in a convincing fashion and you must emphasize your argument. If you fail to be convincing, the credit bureau will mark you down as a frivolous troublemaker who is to be ignored.

This is when a credit file becomes almost impossible to repair. The entire repair process takes anywhere from twelve months to eighteen months.

You must also show an emotional commitment in order to deal with credit bureaus and lenders in an aggressive and persistent fashion. At first, you will face much rejection; only afterwards will you accomplish the results you want. You must be prepared to accept the treatment credit bureaus will give you: They will treat you more or less like a liar who is trying to dispute something that is indisputable. But don't lose heart. Don't get discouraged. And don't give up. Patience is the only skill you really need - and a thick-skin.

You must also show great organizational skills because you will have to keep track of literally dozens of communications.

You must keep on top of timing, making sure that the credit bureaus and lenders have not over-extended their time limits, and you must effectively communicate with each of the three credit bureaus, which means simultaneous correspondence involving twenty or thirty letters.

This is not meant to scare you, but rather to prepare you for the fight ahead - but then you are fighting for your credit life itself - it's worth a little sweat. However, if you feel at all unsure, do seek professional help, because credit repair companies do work - you just have to chose a reputable one. The best way to start would be the Better Business Bureau. However, you need to be educated about your options so you can work actively with a credit repair company. This is why you're reading this book, in the first place.

Alternatively, you may want to contact the Consumer Credit Counselors (CCC). They are a non-profit organization committed to assisting people resolve their debts. You can easily find their phone numbers in the Yellow Pages, under "Credit Counselors".

Primarily, CCC is an educational body that will help you in various capacities. For example, they can act as a liaison between you and your lenders, and help you extend your payments, have interest rates dropped, or have lenders accept a new payment plan. In this case, you give CCC a lump sum payment, and they in turn pay your lenders.

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How to begin repairing your credit