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Credit Repair Yourself
Georgia Said:Is it better to go through a credit repair company, or to dispute yourself?
We Answered:It depends on if you want to pay or not. If you do not mind paying the money then get a company. If you mind then you can dispute yourself. they both have the same result.
Karl Said:Do credit repair companies really do anything that you can't do yourself?
We Answered:Everything credit repair companies do you can do yourself. However, you will need to have the time, patience and know-how to do all of the things that a good credit repair company can do. Not only can they remove negative items from your credit report many times, but they can remove inquiries, remove collections, late payments and greatly increase your credit score. There are a ton of credit repair companies out there so you need to use great caution when deciding which one to use. I would check with the BBB and rip off report to see what kind of info you can find about the companies before you work with them. With time, research and a lot of effort though you can do most or all of the same things they can do and save yourself a nice chunk of money in the process. Best of luck and check out the blog below on credit information.
Nellie Said:What is the best way to repair your credit yourself?
We Answered:In general - you shouldn't be maxing out your cards at all - it is a very bad habit to get into. Living on borrowed money isn't a wise idea. Credit cards are a tool. They should be used instead of cash so that you don't have to carry cash around with you. But it doesn't mean that you don't have the money when it comes time for that bill to be paid.
If you only charge what you KNOW you can afford to pay off - you will be safe and build a very good credit rating. Keeping a small balance is not a bad thing but - try and pay the majority of it off this way you don't have to pay interest on it.
I have been through it. It took us 10 long years to get out of debt. We had over $57,000 in debt and very good credit though. We never missed payments but just seemed to be swamped with it. Be patient for the credit transfer deals that let you have the rate until your balance is paid in full. These are the ones you will want for the long haul.
We transfered to a few cards. one of them was the BEST - 0% until it was paid off! That was amazing but true. There was no limited time. then we also transfered onto a few cards with 3.99% interested until paid - Again no limited time.
This allowed us to pay MUCH MORE THAN THE MINIMUM. paying the min will not help - it will usually get you worse off because you debt will grow usually from other purchases going onto it. Just stop using the cards and pay them all off.
Stay away from the Transfer offers that only give you a matter of months to pay.
I just can't stress that enough. cause you will end up having a huge percentage rate a year from now and then your debt will be compounding more than it ever has.
I am standing here today - debt free!!! Yes we paid off the entire $57,000 and it is all due to the stratigy above - never miss a payment and pay as much as you can towards the highest interest rates first. Minimum payments for the lowest rates. After a while you will see your debt come down, and your credit history improve. We did it all on our own.
Credit Repair Yourself or hire a company is always an issue for the people who want to save money, but they also want to reduce their own workloads. So it's always depends on you that your time is more precious or you have less money to spend on this specific use.
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