With thousands of credit restoration companies completing business across the nation, finding the right one can be difficult and overwhelming but it is imperative www.strongcreditrepair.com that you take the time required to not only find a reputable one but also find one that has the knowledge, experience and power to provide the level of service you expect and the optimal results you deserve. Your decision should not be impulsive. Choosing a bad credit restoration organization will leave you vulnerable and increases the probability that further damage will be caused to your personal credit file but on the other hand, choosing a good credit restoration organization has the potential to be one of the best financial decisions of your life by dramatically cleaning up your personal credit file and improving your credit score. There are numerous items to consider beyond price when making your decision. Recognizing the difference between price and value is imperative as seeking the assistance of a company in the Credit Repair industry is actually always a case of, "You get what you pay for". The following paragraphs explain the four types of Credit Repair companies that make up the industry and what to expect from each.
Credit Repair Company Type 1:
The first type of Credit Repair company is typically a one-man show become depleted of a home office. In general, this type of company markets extremely low rates for their service and will usually have unbelievable service guarantees to top it off. It is not uncommon for this type of credit restoration organization to be a complete scam and take the consumers' money without providing any service at all. Moreover, if you are dealing with a company that falls into this category you are lucky if the only thing you lose is your money and not your identity in the process. In nowadays, identity theft is happening on plague proportions. Until you know the company to be reputable, you should think carefully before handing over your personal identification information.
While all credit restoration organizations that fall into this category are not scams, it is very common for the individual running this type of company to be completely unaware of the deference all credit restoration organizations must adhere to. This company will typically use 3 or 4 standard claim letters that are extremely common and not designed to provide in every situation. Although using standard claim letters may provide some level of positive results, their use also has the potential minimize the stress damage your credit. Moreover, the use of standard claim letters usually only provides temporary results as the negative information stripped away from your personal credit file will most likely reappear on your credit file when it is reported by the creditor.
Credit Repair Company Type 2:
The second type of Credit Repair company generally appears to be much more legitimate. They will have a physical office but similar to Credit Repair company type 1, they only use the same standard claim letters mentioned above. While typically not intending to operate illegally, deference issues are usually overlooked. The largest difference between Credit Repair company type 1 and 2 is that the second usually makes use of an inexpensive software program enabling it to produce volume and handle clients on a much larger scale. The letters used are extremely common therefore, will not get the best results possible. Although this type of credit restoration company may do a substantial amount business, they are not setup to handle consumers that have specific credit related problems. This type of credit restoration company uses more of a biscuit cutter machine approach.
The first two types of Credit Repair companies mentioned make up for more than 90% of the Credit Repair industry. Credit Repair company type 3 and 4 are totally different and make up for less than 10% of the industry. It is very important to note the differences.
Credit Repair Company Type 3:
Not only is the third type of Credit Repair company usually compliant with the laws overseeing credit restoration organizations, but it is also usually trained in the You. S. Code used to claim negative credit items on the consumers' credit file. Using more than just standard claim letters, this type of company can be much more effective than the first two. Because this type of Credit Repair company has such a good understanding of the You. S. Code related to credit, it is typical for this type of company to offer custom Credit Repair work to its clients. The ability to provide custom work for its clients allows this type of company to go above and beyond the level of service provided by the first two types of Credit Repair companies.
Credit Repair Company Type 4:
The forth type of Credit Repair company is very much like the third enter that it is usually compliant with federal law, very well versed in the You. S. Code required to be effective in the Credit Repair industry and typically has also to perform custom claim work for its clients. The largest difference between credit restoration company type 3 and 4 is that Credit Repair company type 4 has law firms on staff or is developed with a lawyer. Credit Repair company type 4 will also usually be expensive than the other three Credit Repair company types but will almost always be effective. Not only can an attorney based credit restoration organization supply best results possible, but a credit restoration organization that has law firms on staff or is developed with a lawyer can also take the consumers' legal rights should legal action be required to correct erroneous items on a holder's personal credit file. Beyond that, by using an attorney based credit restoration company, the consumer can minimize the possibility that an item will be re-reported by a creditor as an attorney has the capacity to take additional steps to block negative items from being re-reported on a holder's personal credit file. There are very few credit restoration organizations that fall into this category.
As you can see, it is not only important to find a credit restoration organization that is staffed with subject theme experts and has the capacity to provide great results but it is also very important to find one that is compliant with the guidelines set forth by the government. Further, you should now understand the benefit of using a credit restoration company that has law firms on staff or is developed with a lawyer. Your credit report has more of an influence in determining your financial future than most anything else. You should not put your credit report in the hands of just anyone. Choose a credit restoration company that is compliant, trained in the related You. S. Code, staffed by subject theme experts and law firms or employs the services of a lawyer.