How to Repair Bad Credit - A Banker"s Perspective
For a variety of reasons more and more people today are burdened with bad credit.
Since you're reading this page then chances are you or someone you know has been affected, and are looking for a fast and real repair bad credit solution.
Yes it is certainly possible to repair bad credit and improve one's credit score BUT you should first understand a few things before you can begin.
First let me mention why I've chosen to write this article.
As a career banker I've helped many hundreds of people over the years with their financial services needs.
Too often people have had credit issues that limited their access to banking services and because of my desire and responsibility to assist I've learned a great deal about how to repair bad credit.
I now want to share my experience with others because during these difficult economic times more and more people are finding themselves in need of real help in this area.
The following is focused on repairing or cleaning one's credit history; methods for rebuilding credit such as 'secured credit cards' are a separate subject in my opinion and the topic of a future article.
How to Repair Bad Credit There are a few basic options...
1.
"Do it Yourself" - in my experience this is the least effective approach.
Years ago it worked better but the reporting agencies have improved their tools and response times so frankly this approach is a waste of time.
I recommend you avoid paying for any 'self help guides' as you are far more likely than not to be throwing away the money you spend.
2.
Retain Legal Council - Yes this approach can be effective if you are lucky enough to find a good, skilled team.
Lawyers can be well versed in credit law and can have specialists and streamlined systems that can move quickly to repair bad credit.
However, obviously well trained legal assistance comes at a steep price, and few people can really afford to pay for a top quality legal team - obviously, if you could afford expensive legal advice then probably you could afford to have paid your bills in the first place.
3.
Specialty Credit Repair Services - This is my preferred solution and one that I've seen benefit hundreds of my clients to repair bad credit problems both small and large.
Before I go any further though I need to first advise you - in the strongest possible terms - that the majority of these credit repair service companies are bogus and simply out for your money.
In fact, the FTC is currently cracking down on quite a few of them.
Before you go this route you must make absolutely certain you are dealing with a reputable company that can provide real results and not over charge! If you go this route then you should only consider companies that offer all of the following features: a.
A dedicated professional that you can speak with 1 on 1 throughout the process.
b.
Initial consultations should be free of charge and you should be under no obligation to move forward unless you want.
c.
A viable, workable credit repair program tailored to your specific situation and presented upfront so you can completely understand.
d.
100% service guarantee and full refund should you chose.
e.
The ability to negotiate debt reduction with creditors on your behalf.
f.
Competent budgeting planning and assistance - this is a key component to a successful debt management system.
g.
Around the clock support as well as ongoing unrestricted access to your credit report information.
Again, which ever route you choose be sure you chose wisely They are one of the few service providers that meet all of the above criteria and they have successfully helped many of my clients in the past.
Since you're reading this page then chances are you or someone you know has been affected, and are looking for a fast and real repair bad credit solution.
Yes it is certainly possible to repair bad credit and improve one's credit score BUT you should first understand a few things before you can begin.
First let me mention why I've chosen to write this article.
As a career banker I've helped many hundreds of people over the years with their financial services needs.
Too often people have had credit issues that limited their access to banking services and because of my desire and responsibility to assist I've learned a great deal about how to repair bad credit.
I now want to share my experience with others because during these difficult economic times more and more people are finding themselves in need of real help in this area.
The following is focused on repairing or cleaning one's credit history; methods for rebuilding credit such as 'secured credit cards' are a separate subject in my opinion and the topic of a future article.
How to Repair Bad Credit There are a few basic options...
1.
"Do it Yourself" - in my experience this is the least effective approach.
Years ago it worked better but the reporting agencies have improved their tools and response times so frankly this approach is a waste of time.
I recommend you avoid paying for any 'self help guides' as you are far more likely than not to be throwing away the money you spend.
2.
Retain Legal Council - Yes this approach can be effective if you are lucky enough to find a good, skilled team.
Lawyers can be well versed in credit law and can have specialists and streamlined systems that can move quickly to repair bad credit.
However, obviously well trained legal assistance comes at a steep price, and few people can really afford to pay for a top quality legal team - obviously, if you could afford expensive legal advice then probably you could afford to have paid your bills in the first place.
3.
Specialty Credit Repair Services - This is my preferred solution and one that I've seen benefit hundreds of my clients to repair bad credit problems both small and large.
Before I go any further though I need to first advise you - in the strongest possible terms - that the majority of these credit repair service companies are bogus and simply out for your money.
In fact, the FTC is currently cracking down on quite a few of them.
Before you go this route you must make absolutely certain you are dealing with a reputable company that can provide real results and not over charge! If you go this route then you should only consider companies that offer all of the following features: a.
A dedicated professional that you can speak with 1 on 1 throughout the process.
b.
Initial consultations should be free of charge and you should be under no obligation to move forward unless you want.
c.
A viable, workable credit repair program tailored to your specific situation and presented upfront so you can completely understand.
d.
100% service guarantee and full refund should you chose.
e.
The ability to negotiate debt reduction with creditors on your behalf.
f.
Competent budgeting planning and assistance - this is a key component to a successful debt management system.
g.
Around the clock support as well as ongoing unrestricted access to your credit report information.
Again, which ever route you choose be sure you chose wisely They are one of the few service providers that meet all of the above criteria and they have successfully helped many of my clients in the past.