Credit Repair: Self Help Strategies -

The Best Policy

Credit Repair "Agencies" Preying on  Unsuspecting Consumers

Consumers today are up to their eyeballs in debt.

And many people don't realize it until their good credit has been devastated. 

As a result, many "credit repair" agencies are popping up all over the internet, in television commercials and in the newspapers making sweeping guarantees that they can erase your bad credit and remove bankruptcies, judgments, liens, and bad loans from your credit history - forever! (ha!). 

Consumers are flocking to these "credit repair clinics in droves.

However, estimates show that credit repair companies have defrauded consumers in the United States alone out of more than fifty million dollars. God only knows what the figures are like in other "industrialized nations".

Let's face it, entrepreneurs with an eye for business know a lucrative opportunity when they see one and so we find many credit repair agencies are started by entrepreneurs in it for the money.  

Some Warning Signs

Some of the warning signs that the FTC tell people to watch out for are agencies that:

1. Want you to pay for credit repair services before any services are provided.

2. Do not tell your legal rights and what you can do yourself for free.

3. Recommend that you do not contact a credit bureau directly.

4. Won't give your information about the services they provide without requiring you to provide personal information, such as credit card account numbers and balances.

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 Self-Help: The Best Strategy

The truth of the matter is that in many cases if you want to repair bad credit the best strategy is a self help strategy - not giving away hundreds or even thousands of dollars in up-front fees to someone or some "agency" that in the end do nothing to restore your credit, or improve credit; some simply vanishing in the middle of the night with your money. 

Often, what many of these credit repair companies offer are strategies that with a little guidance and discipline, you can apply on your own. 

#1  Recommended Self-Help Source For Credit Repair

After researching the subject I found one excellent do-it-yourself kit that offers detailed information about credit scores, disputing bad credit, credit reporting and dealing with credit bureaus. 

It offers up some of the best advice out there about how to recover your credit worthiness. Credit repair is possible and this guide shows you step by step how to do it your self.

The Information in this credit repair guide is a compilation of over 15 years of research and experience in the field and offers you a great alternative to the hundreds of dollars that you would pay to some else to do the job when you could just as well do it yourself. 

This Credit Repair Kit is available as a download (I just love the internet! Don't you?).  Once you download it you will be able to read through it in the comfort of your home or office and begin the process of applying the self help strategies which it will guide you through.

Other inexpensive or even free resources for self-help can be found in libraries and bookstores which have a wealth of information about credit management and credit repair techniques. 

In addition, computer software programs can be useful and inexpensive tools for developing and maintaining a budget, balancing your checkbook, and creating plans to save money and pay down your debt.

#2  Recommended Self-Help Strategy For Credit Repair

The second self-help credit repair strategy that I recommend is beating the credit reporting bureaus at their own game by taking advantage of debit cards which offers a built in credit reporting feature (isn't this fun?).

There are many debit cards on offer now that, for a small fee, report your monthly payment history to one of the reporting agencies. I discuss those debit cards here.

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