Posted on Saturday, 16th January 2010 by admin
The credit repair world can be a scary place. Given the abundance of news articles, television stories, and opinion pieces warning of fraudulent credit repair services that get pushed out by well regarded media outlets, it can appear as if the only logical course of action is to steer clear of credit repair companies altogether – something many news outlets seem to advocate.
There are dozens of articles talking about how to avoid a credit repair scammer. Most itemize a list of warning signs such as companies that charge hefty upfront fees, claim to help you create a new credit identity, don’t keep you informed of your rights, and generally make misleading or untruthful statements. At this point, however, a very small percentage of articles concede that there are credit repair companies like Lexington Law who do not engage in the practices that are common to a credit repair scam. In fact, many articles from established news agencies like CNN end by advising people to “get legitimate help” from consumer credit counseling services.
Not only is this advice incomplete, but it is also completely useless to people who truly could benefit from the assistance of a legal credit repair service. Credit counseling programs may be able to assist people who are unable to make payments on their debts, but it will do nothing to improve your credit rating. Some credit counseling programs even have the potential to make your credit score worse.
Unlike consumer credit counseling services that work to bring your finances under control, credit repair services are designed to help you raise your credit score. They are not mutually exclusive services and in many cases, a person who has used a credit counseling service to help overcome their debt issues becomes a great candidate for credit repair once they have completed the program.
Legal credit repair services do have a purpose and it is a disservice to say otherwise. Hopefully as consumers and news columnists alike become more familiar with credit repair and the services credit repair organizations provide, we will start seeing a better balance between news stories warning of credit repair scams and news stories listing the qualities to look for in a reputable credit repair service.
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Tags: Credit Repair, Credit Repair Services, Repair Services, Services
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