Credit problems can happen to anyone. Sometimes, unexpected events arise that make it impossible to pay your bills on time. Unfortunately, any lapses in your payment history or other issues will stay on your credit report for a minimum of seven years. This can result in a low credit score and difficulty obtaining credit. Sadly, a single mistake can continue to haunt you for years, making it nearly impossible to pursue your dreams of getting a mortgage to buy a home or borrowing money to do just about anything.
A low credit score can affect more than just your ability to borrow, however. It can also make it difficult to rent an apartment since landlords and property management companies often use your credit score when determining whether or not to accept your application. You may also wind up paying far higher interest rates and fees for a variety of different services than people with good credit. For instance, your car insurance rates will most likely be higher than those of someone with good credit. In essence, a low credit score can cost you a lot of money over your lifetime.
The good news is that it may be possible to increase your credit score by getting many of the negative items on your credit report removed and by beginning to use credit responsibly. My Credit Helper realizes there are companies out there that specialize in helping people clean up their credit reports and raise their credit scores. Unfortunately, not all credit restoration companies are created equal. Along with reputable companies, there are also many scammers in the industry that take advantage of unsuspecting people by promising them unrealistic results.
Knowing what to look for in a credit restoration company can help you avoid scammers while at the same time improving your chances of increasing your score. Here are some tips to help you find a good credit restoration specialist to help you clean up your credit:
1. Check their reputation online. This includes searching for reviews from other consumers as well as checking with companies such as the Better Business Bureau to make sure that they don’t have a lot of active complaints against them.
2. Avoid companies that make unrealistic promises. If you see any advertisements from companies promising to get rid of every negative item on your report or to increase your score overnight, you should definitely steer clear. This is one of those instances where if something sounds too good to be true, it probably is.
3. Never pay for services up front. The FTC has rules against credit repair companies charging for work before it is completed. If a credit repair company asks for an upfront payment, they are in violation of these rules and should be avoided at all costs.
4. Choose a company that treats you with respect. The company you work with should carefully interview you about your credit and about each of the accounts on your report. They should actively work to gather information that can help them dispute any incorrect items.
Once you know what to look for in a credit restoration company, you will be far better prepared to choose the right company to help you get the results you are looking for.
Originally posted 2016-06-04 20:08:07.