Credit repair companies that using their services is the only way that you can ever successfully improve your credit score. They would also have you to believe that they have secret strategies that they are going to implement that you could never use.
The reality is that when you work with a credit repair specialist, they are going to do the exact same things to your credit that you would do if you worked on your own. And, they often charge enormous fees. In fact, last week I talked to someone who had just dropped $500 with a credit repair company. When I asked her what they were going to do for her she replied “Send dispute letters.” Hmm…I don’t know about you, but paying $500 to have someone mail some letters for you doesn’t seem like a good idea.
Credit restoration involves more than just credit report disputing. When you work on your own credit, you can also address other areas. Do you have old collections that need clearing up? Now is a great time to call the creditor and see if they will agree to delete the account from your credit file if you clear it up. Just make sure that you get everything in writing up front.
Another great way to improve your credit over the long term is open new accounts. Now, this will cause a temporary drop in your credit score but if your credit file now consists mostly of accounts that have had issues, having two or three clean accounts can really help in the long run.
Another thing that you can do to improve your credit that no credit repair specialist can do for you is have a parent or spouse add you as an authorized user on one of their accounts. As long as the account is older, has a great payment history and does not carry a high balance, you will benefit greatly from doing this.
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