Credit Repair Advice: DIY Vs Hiring An Agency |
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| By: Tiffani G Peterson | ||||
If you hire an agency you'll pay a monthly fee regardless of how much work they do (or don't do). You'll send your own letters and make calls so that you know exactly where you are along the process. When you make all your own contacts with the reporting agencies, you'll provide a personal touch so they know you're a real person the need to work with. Repairing credit yourself is the most flexible. If you want to wait, you can. If you're ready to act, you can. You can make the decisions an agency might have to call and ask you about anyway. For example, if you see a charged off account that's 6 years old, it might make sense to leave it alone rather than dispute it since it will fall off anyway after 7 years of inactivity. A couple of reasons you might want someone else to work on your credit are that it does take a little time and that you might struggle with self doubt and wonder if you were doing it right. When it comes down to it, credit and financial health are one of those things that you probably shouldn't pay someone else to do. It's like your physical health or raising your children. Yes, you can pay for someone to help now and then but it's ultimately your responsibility. Fortunately, there is more information than you could ever need online about how to repair your credit. The challenge is sorting through it and putting it all in order. My advice is to find a reputable book or course that puts all the pieces together for you. Using An Agency A credit repair agency will do the same thing you can do for yourself. You can send letters. You can read articles on credit repair advice. You can open or close lines of credit and negotiate your rates. On the other hand, sometimes it's nice knowing someone is negotiating for you. The downside is that many consumers find that credit repair agencies take your money and then send out automated form letters. The credit reporting agencies see spam looking letters and can reject them based on there not being enough information. The letter will be missing what you could put into it yourself about your personal circumstances. If you're waiting for the credit repair agency, you might be missing out on other things you could be doing in the meantime. When they're being paid by the month, the incentives are stacked against them moving quickly and keeping you informed. My advice is to skip the agencies and spend that money on a good book or course. Take responsibility for your own financial future. |
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| Article Source: http://yourfinance.co.za | ||||
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