People approach me all the time with this question and I get it, sometimes navigating the credit scoring and repair process can be a little confusing, but I am absolutely against paying someone to correct your credit report.

Namely because as Neal Frankle said in his Huffington Post article, “In truth, there is nothing that a credit repair firm can do for you that you can’t do for yourself, and do so in less time and at less cost. But there is nothing that will hurt your credit score more than working with a credit repair firm that is not reputable — and there are plenty of those.”

There are only three ways items can be removed from your credit.

1. They age off after the statute of limitations has passed
2. The creditor agrees to remove or correct an item on your report
3. The debt is removed after a successful dispute.

This is the only thing they can be done and rather than paying a company to do it, how about you take a Saturday morning to sit down and type up the letters and take them to the post office.  That’s what you’d be paying a legitimate company to do and god knows what you’d be paying an illegitimate company to do.

Now do not confuse Debt Counselors with Credit Repair companies. There is a difference although people use the terms interchangeably. Debt Counselors usually work for a non-profit entity and do not charge you for advice. Credit Repairs Companies charge you immediately. If they are asking you to whip out your wallet for result, that is a BIG RED FLAG!

I’m a film believer in not paying others for things I can do myself and its one of the ways I have really kept my overhead low.

Have you enlisted the help of a Credit Repair Company? What was your experience?