Credit Bible

(3 Reasons To Avoid Using A Credit Repair Company)

The Credit Bible is here to help. You know that you need help. Every time the phone rings you are afraid to answer it - it may be another debt collector. Your mail is piling up on the dining room table unopened - you don't want to see another late notice. Now the bank is getting serious about the mortgage payments. But you have hope - you have seen the late-night TV commercials for the credit repair services. They offer to fix your bad credit in 24 hours. Should you call that toll-free number? In this article we will give you three reasons to avoid those credit score repair services you have seen advertised.

Reason #1: Money. Most of the credit score repair services, whether they are large companies or law firms doing credit restoration, require monthly payments. How much can you expect to pay a credit repair service? Consumers often have to pay an up-front fee of $50 to $100, followed by a monthly fee of $40 to $50. And don't be surprised if they want it set up as an auto-debit out of your checking account. They say they want to help you, but they always help themselves first.

Reason #2: Time. Remember that we said the credit repair services charge a monthly fee. So the longer it takes them to clean up your bad debt, the more they get paid! The companies have absolutely no incentive to work quickly or aggressively on your behalf. The longer you have to live with a low credit score, the more you will be paying in high-interest loans and credit card charges. Time is of the essence! You want a fast solution to your credit problems so you can start reaping the rewards of an improved credit report.

Reason #3: Effectiveness. The way that some of the credit score repair companies are able to charge relatively low monthly fees is that they offer "one size fits all" services. They have a stack of boilerplate letters they send to the lenders and debt collection companies. A customized letter tailored for your specific problem would be much more effective, but the credit repair companies can't afford that. How much time can they spend on your specific case? Not much, when the monthly charge is $40.

The good news is that you can repair your credit yourself, without getting sucked into a monthly fee with a so-called "credit repair" company. You just need a little knowledge to see the process through to the end. While it might be hard work, chances are it will be the highest paying work that you ever do. The Credit Bible could be the solutions to your problems.

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