You can improve your credit score. You can hire one of the credit repair companies to help you or you can do it yourself. There are legal techniques and there are illegal techniques. A reputable credit repair specialist will only offer to help you do what you could do on your own if you had the time, patience and knowledge.
Just because someone calls himself a credit repair specialist does not necessarily guarantee that he has a long list of qualifications. If he is not very good at what he does, then he probably will not stay in business very long, but you may not want to be one of his few customers. If you are thinking of hiring one of the many credit repair companies to help you improve or monitor your credit scores, check the company out first. Find out how long they have been in business and if they can provide you with the names of satisfied customers.
Credit repair companies which make unbelievable claims about how quickly they can improve your credit score may be suggesting something illegal or they may simply be exaggerating. Any reputable credit repair specialist knows that it takes time to improve credit scores.
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If there is inaccurate information on your credit report, correcting this information will improve your credit score, but this is not usually a “quick” process. The Federal Trade Commission advises that consumers should beware of credit repair companies which claim to be able to improve your credit score in a very short period of time. A couple of months is a reasonable amount of time to expect to see any results.
Some credit repair companies suggest that you dispute every negative item on your credit report. A reputable credit repair specialist will tell you that you should only dispute negative information that is questionable, outdated, unverifiable or inaccurate in some other way. The credit bureaus have the right to simply ignore disputes which they believe are frivolous. If you send them a letter disputing a large number of negative items and you have not been a victim of credit fraud, then they may simply ignore your letter.
At least one credit repair specialist has been known to say that the credit bureaus will probably not bother to investigate disputes. The major credit bureaus have systems in place to investigate disputes and it is highly unlikely that they will remove negative items without investigating. It is more likely that they would classify the dispute as frivolous. If they do happen to remove negative which are accurate, the company which originally supplied the information may simply report it again. So, even if you are successful in the short term, you may not be in the long run. Credit repair companies which claim otherwise are not being completely honest.