In todays economy, increasing numbers of American families are experiencing the pain of a personal credit crisis. Credit card interest rates are up, credit limits are down and many people are seeing their FICO score take a serious tumble restricting their access to credit. When it gets to the point that you cant manage, when you cant seem to make minimum payments and you are receiving collection calls, when you have bad credit you have a personal credit crisis.
This crisis can have a serious impact not only on your financial capabilities but it places stress on other important parts of life such as relationships, your job, even your physical health. The more it impacts your life the more you commit to do something to fix it and therein lies the problem.
Credit is an everyday part of our lives yet most consumers do not really understand how it works. Americans probably know more about the treatment of cancer than they do about repairing their credit. Its no surprise that so many consumers attempt to repair their credit themselves fails.
If you have a newer car and it needs a tune up you will likely take it to the dealer or a qualified mechanic. Todays card are far more sophisticated and it takes significantly more than a spark plug wrench and busted knuckles to perform a tune up. Taking it to a qualified mechanic who has the knowledge and the tools is almost always less expensive in the long run than trying to do it yourself. Youre willing to pay for the service because it makes sense.
The same applies to repairing your credit.
Do it yourself credit repair kits and other resources such as sample letters and e-books are available at literally hundreds of different web sites. Trying to repair your credit using these tools is akin to trying to repair your car using the owners manual. Both experiences will prove frustrating, time consuming and will come with no guarantee that the repair will be fixed after you are done.
Professional credit repair firms work much like your professional mechanic. They have the knowledge, tools, experience and contacts that can effectively achieve your objective of repairing your credit. Once you engage one of these firms the stress of dealing with it yourself begins to go away. Just knowing that somebody with the right tools and experience is representing you contributes greatly to ending the crisis.
Choosing the right credit repair firm is an exercise in common sense. Like mechanics there are good ones and there are bad ones. Absolutely stay away from companies that promise pie in the sky offers. Credit repair is not accomplished overnight but is rather an ongoing project over months. When evaluating firms consider their experience, time in business, affordability, cancellation and refund policies and their standing with the Better Business Bureau.
Having a team working for you that can leverage your rights under the consumer protection laws can result in significantly higher FICO scores and access to lower interest rates. For less than your monthly cable bill, you can relieve yourself of the stress of doing the repair yourself and at the same time have more effective results. Professional credit repair firms just makes sense.
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Chris A. Smith is the Editor in Chief of a popular and descriptive personal credit web site. Learn more about choosingcredit repair firms, what they do, how they do it, and what results to anticipate, by watching this short but descriptive credit repair video. (Published: June 2009 – Image: www.nurido.at)