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Monday, March 2, 2009

Credit Repair Services vs. Do It Yourself Credit Repair

By John Cooper

When you are researching how to repair your credit report, you will have two choices. You can do it yourself or you can hire a service to do it on your behalf.

There are benefits to each approach. For do it yourself credit repair, you will be able to provide any additional evidence that an item is incorrect. Additionally you will be writing the letters yourself and saving money.

The drawbacks of doing it yourself are; it is time consuming. This is because you will have to send a dispute letter to each bureau for each negative item. For example if you have one negative item on each of your reports, you will have to send a letter to each credit bureau.

Another drawback is it will take a lot of organization; this is a result of bureaus not investigating upon receipt of the first dispute letter. It is common practice for the bureaus to respond with a letter requesting more information about the dispute, this is a stall tactic.

The bureaus have found this to be a more cost effective method, than to hold the investigations. This is because most get frustrated and give up here.

Additionally it is common for individuals to dispute credit the wrong way. This means they will;

1. Send dispute letters too often.

2. Supply a frivolous reason for the dispute.

3. Dispute too many items at once.

One of the benefits of a service on your side is; they have a comprehensive knowledge of the credit laws. These can frequently be used to help you and more effectively remove derogatory credit.

This is how a service will work; you will send a copy of your credit report and show what marks you wish to dispute. The service will create a dispute letter and send it off to the bureaus.

It will continue to send dispute letters and overcome any stall tactics the bureaus use. You will then get deletion letters in the mail from the bureaus.

You send these deletion letters to the service and the process will continue. They will do all the organization, and provide you with a contact if you want to talk someone about your specific case.

In addition they have more advanced dispute techniques than an individual. For example a service can use; escalated dispute information requests, debt validation, and creditor direct intervention.

In sum we do suggest a service as these are professionals. However either method is sufficient and can help you repair your damaged credit report. Stop just living with the high cost of bad credit and take action to get the high score and better life that you deserve.

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