Credit Score: Ensure Your Right as Buyer at Credit Repair Agencies

snerfuStarred Page By snerfu, 2nd Jul 2014 | Follow this author | RSS Feed
Posted in Wikinut>Money>Debt

Credit repair agencies work to improve your low credit score. Yet, is that what they do? You have to ensure that they are doing your work properly. For this you have to ask question right at the start.

To trust credit repair agencies or not

Credit repair agencies exist everywhere. Many online companies and even those who have a regular office sometimes pack up and move on without a thought to those who paid them money. What does a customer do? You may have gone to repair your low credit score. Credit repair agencies take money from you and suddenly show you a clause in their contract that says that they do not have to do anything. Where does this leave you?

Troubles one has with low credit score

Running short of money is a problem everyone faces. However, getting another loan (sometimes, one may be unemployed and applying for a job) is simply not worthwhile. You find interest rate is too high. Moreover, job opportunity does not exist. This happens when you have low credit score on your credit report.

Black marks on credit report

Things such as debts, foreclosures and bankruptcies exist on your credit report for a long time some as long as 10 years. If you have not paid some bill in time and get a black mark, it will affect your credit score. This will subsequently find a manifestation as high rate of interest when you apply for credit at some other place.

Questions you should ask

I) At credit lending agency
You may have a low credit score but that does not mean you cannot ask questions. You have several options for questioning. One is when you request credit at some lenders and they put in a credit score for you. You can ask them how they arrived at their score. This must be based on general criterion and not based on:
a) Your religion
b) Your belief
c) Ethnic belonging
d) Your criminal record
e) Your liking or disliking
Credit lending agencies will arrive at particular credit scores through some intrinsic method applicable for that agency. They then tell you how they got your score. You must check to see that their method is fully general and does not have any bias.

II) At credit repair agency
Next place you have rights to question is at credit repair agency. They have to give you full documents of:
i) What they intend to do
ii) How long they will be involved in repairing your credit
iii) What charges will you have to pay
iv) Money back guarantee of success
v) What modus operandi they will adopt
When credit repair agencies take up your work to repair your low credit score, they have to tell you what they will do. This must be something to do with your credit report. They must mention some day when you will find your credit back on positive side. In addition, they have to mention the fees – what is normal and what they intend to charge you. Almost all credit repair agencies have a money-back policy. If they fail in their mission of repairing credit, they have to refund your money. Finally, you should know by which method they would do the work.

Being prepared is important

Knowing what to do helps you prepare for anything. You can get effective credit repair but you must prepare in advance for anything. Maintaining good credit scores is possible if you keep your spending in check.

Credits for this page

Links to similar pages:
Choose Reliable Credit Repair Companies to Get Your Credit Repaired
How Credit Repair Companies Make Your Credit Good Again
Credit Repair Agencies: Is There Hope in This Area?

Work Done By Credit Repair Agencies: Repair Credit

All photographs in this page are taken from Public Domain of Pixabay and Picdrome.

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Credit, Credit Repair, Credit Repair Agencies, Credit Score, Low Credit Score, Report

Meet the author

author avatar snerfu
Bachelor, Christian, 53, settled in Madurai, India, like to watch football and tennis on TV. I also have occasional walks but try to read the Bible daily. For amusement, I read the newspaper.

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author avatar Phyl Campbell
3rd Jul 2014 (#)

I hope your articles help a lot of people. I'm surprised they aren't getting more views.

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author avatar snerfu
3rd Jul 2014 (#)

You'd be surprised...why do you think I persist?

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