I want to take a few minutes to discuss credit repair and why it's made such a bad reputation for itself over the years. First of all the actual act of credit repair is not shady by any means, it's the calculated, underhanded predators that turn it into an opportunity to manipulate unsuspicious consumers that are already down on their luck and desperate for help.
Remember, scrupulous credit repair companies are drawing their rules from federal laws and there's absolutely nothing shady about the federal laws. The laws I'm referring to here are the Fair Debt Collections Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA). This is the place credit repair originated from and this is where credit repair is built to stay. Unfortunately these days you have got every Tom, Dick and Harry running around promising consumers 24 hour or 30 day credit improvement for 100's of dollars up front (which happens to be highly illegal), all the while doing absolutely NOTHING to help repair their credit. Just picture the most obnoxious used car salesman you've ever met and times it by 10,000. There is nothing more disturbing than the usual boiler room stuffed with high school dropouts taking advantage of innocent consumers and claiming high quality credit repair. Please don't let them deter you from true credit repair in line with the federal laws and the repair companies that stay true to these laws and can get results. If anything, take it as a great reason to try and do your own credit repair first.
One last thing to remember is that credit repair and the removal of negative items from your credit report is not the end all fix. You probably won't wake up in Wonderland the next day with an 850 credit score. In other words, there are more steps involved in bringing your credit score back up. For example, you need to pay back the debt you truly owe, keep your balances on your credit cards low and most importantly, live in your own financial means! Making little improvements each month will boost all of your credit repair efforts.
Research and find a credit repair agency that's doing credit repair the right way and get yourself back on track. If you want to do it by yourself that's fine too as there is nothing that a credit repair agency can do that you can't do for yourself if you have the time, so please don't fall victim to some phone agent that claims otherwise.
Credit repair will work, but like with every other industry there are low life predators around that will lie, cheat and steal! Please don't forget this and thanks for listening.
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