-Todd Disraeli Millions of Americans suffer because of bad
credit these days, and almost all of these people turn to the Internet for help.
In the past 5 years hundreds of ‘internet-based’ credit repair services have
sprung up , preying on consumers in need of real help. Most of these companies
have built less than desirable reputations by over-promising and
under-delivering; all the while taking millions of dollars from those in need.
For this week’s article I am going to compare ‘internet based’ credit
repair services to repairing your credit yourself using a system like Loan Saver
PRO: for Consumers; you can learn more about their system here -
http://www.loansaverpro.com/index-1.html. Hopefully I will open your eyes to the
fact that you can do everything they can do, for far less money, and achieve
even better results in far less time.
Cost Comparison Credit
Repair Service – Almost every credit repair company found on the internet
charges a set-up fee of at least $60 and an ongoing monthly fee of at least $49.
They initially tell you that your credit repair work will probably take around 3
months to complete. In reality, your credit repair work ends up taking close to
a year or more and now you’ve paid them at least $600. The goal of most credit
repair services is to take their time repairing your credit so they can keep
debiting your bank account. Do-It Yourself Credit Repair – There are
several ‘do-it-yourself’ credit repair systems found on the internet. Most of
these systems cost no more than $40, which is less than the set-up fees for most
credit repair services, plus there is no monthly fee. Some of these products are
good and some are bad—whichever one you choose, don’t use a ‘do-it-yourself’
system that uses ’pre-made’ letters to launch disputes; I’ll explain this in
more detail below.
Dispute Letters Credit Repair Service – Almost
every ‘internet based’ credit repair service, and some ‘do-it-yourself’ credit
repair systems, use ‘pre-made’ attorney letters to dispute information on your
credit report. Using these types of letters often raises major red flags at the
credit bureau level and may result in your dispute request being denied. How do
you know if your dispute has been denied? You’ll know when you receive a ‘Will
Not Take Action’ letter from the credit bureaus. Do-It Yourself Credit
Repair – There are two primary ways you can dispute negative items on your
credit report. One way is to write several original letters to the credit
bureaus, which can take several hours to complete and adds weeks onto the credit
repair process.
The second and easiest way to dispute negative items on
your credit report, is to launch your disputes online. The credit repair system
that I helped develop, Loan Saver PRO, shows you step-by-step how to order the
right credit reports (yes, there are some wrong ones), launch effective online
disputes, and manage the whole credit repair
process.
Results Credit Repair Service – If it sounds too good to
be true, it probably is. To get your scores into the 800’s would take over 10
years of perfect credit, so don’t believe it. ‘Internet based’ credit repair
services will also try to tell you where your score will be in 30-60 days and
that’s impossible to predict. Also, any credit repair service that promotes pipe
dreams of a new car and a new house is not to be trusted; unless of course they
plan on loaning you the down payment. Do-It Yourself Credit Repair – A
reputable ‘do-it-yourself’ credit repair system should never promise a certain
score. However, I will promise that if you decide to use a reputable
‘do-it-yourself’ credit repair system, and are patient, your scores will
increase significantly. On average, I have seen the Loan Saver PRO credit repair
system raise scores into the high 600’s and low 700’s. With those scores, you
can likely get any loan or credit card you desire, and at the best rates
possible.
Again, I hope the above information will help you make a better
decision when deciding what to do regarding your credit situation. If you still
decide to work with an ‘internet based’ credit repair service, make sure you do
your research, and don’t say I didn’t warn you.
To help get you started
with the ‘do-it-yourself’ credit repair process, my company Loan Savers LLC,
offers a free guide that will help you order the right credit reports needed to
repair your credit. Visit http://www.loansaverpro.com/index-1.htm and submit
your email address to receive a free Insider’s Guide to Ordering Your Credit
Reports.
About the Author
Todd Disraeli has been in the mortgage and credit repair business for over 10
years. Todd's primary expertise is consulting with mortgage companies and
helping them turn declined loans into approved loans. Todd uses his extensive
knowledge and experience to help mortgage companies, and their loan officer’s,
work smarter and not harder. Although he might seem controversial at
times, he speaks the truth whether the credit bureaus like it or not.
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