If you are interested in cleaning up your credit and raising your scores, you should go for the gusto. Get every single point you can. Leave nothing on the table. Given the complexity of the process you should consider credit repair services as a better option to doing the job yourself.
Building the To-Do List
Credit repair services are dedicated to the task of credit improvement. The best of these companies provide a comprehensive approach to the job. The work entailed should include a complete review of your reports, investigation of the statutes of limitation for any collections reported with balances, thorough FICO score consulting, and the administration of the entire dispute letter process.
Review of Your Reports
A proper and complete review of your reports is central to the job done by credit repair services. The goal is to miss nothing. This is easier said than done, and is a strong case for using a professional rather than attempting in on your own. Many of the errors that are created during the reporting process are subtle compliance errors that can be very difficult to spot without training.
Investigate the Statutes of Limitation
A careful investigation of the statutes of limitation on open collections should be performed by any good credit repair services. This procedure will alleviate any risk of triggering a lawsuit from an active collector. If the statute of limitation is expired a collector has no legal leverage and can be challenged without fear. There are cases when credit repair strategies can be employed on newer collections, but this is on a case by case basis.
Consideration of Your Credit Score
Your credit score should always be kept in sight by any credit repair services you choose to employ. All of the actions taken on your behalf have the potential to move your scores. The better of the services will be astute enough to take only those actions that are in conformity with your goals and any stated timeframe you have provided.
Administering the Dispute Process
As important as all of the prior items may be, the administration of your dispute process is the most significant job of credit repair services, and one that may continue for a prolonged period depending on the extent of the errors on your report. Effective dispute letters should be crafted with an understanding of bureau operations and methods. Letters must be clear and to the point. On an ongoing basis responses must be promptly sent when satisfactory results are not quickly forthcoming.
An Important Job
Having said all of this and provided an overview of the tasks performed by credit repair services, it is worth reinforcing the point that this endeavor is one of potential financial significance to you. The job must be done right. Every point on your FICO score counts and all of these procedures can have a lasting impact on your scores. When choosing a company to do the job for you, it is important to pick the right one.
Making a Choice
Making your choice of credit repair services is important, but it is not difficult. Check the Better Business Bureau record for any patterns of concern, call them to discuss their process and ask any questions you deem pertinent. Use the items mentioned in this article as a guide. And most importantly, make sure you are comfortable with the conversation. If you are not comfortable it will not portend well for your ongoing relationship. Should that be the case, just move on. Pick up the phone and try again until you are feeling good. Good luck!