subject: What Is A Credit Repair Attorney? [print this page] Utilizing the services of a credit repair attorney has become a popular option for American consumers over the last few years, as having a good credit rating has become of increased importance. This is especially true in recent times, as more and more people struggle with their credit score in this tough financial climate.
Performing a simple internet search for these attorneys brings up several million results, and in this article we look at the role of these people and companies. We examine what exactly it is they do, how much their services cost, and whether they are a better option than do it yourself.
Having a poor credit report can severely limit you, especially as companies are now being far more stringent in terms of who they lend to. If you have a low credit score you will either be turned down altogether for new credit cards and personal loans, or will be offered products with unfavorable interest rates, meaning the credit costs you far more money in the long term.
Credit repair attorneys are aware of the desire of consumers to improve their credit reports, and offer a number of services which they claim will meet this need. These services usually include offering you an honest appraisal of your credit report, and then taking all steps within their power to improve your credit.
Many firms claim that they can remove items such as late payments, charge-offs, foreclosures and bankruptcies from your credit history, and will develop an ongoing financial plan and monitor your credit for a specified period after the initial repair has been carried out.
Whether these services are worth the money is debatable, and will vary from customer to customer. The important thing to bear in mind is that these companies cannot do anything that you cannot do yourself. There is no quick fix when it comes to credit repair, and any company that claims otherwise is bending the truth.
Credit repair takes time, patience and persistence, and the credit repair attorney is offering to save you the time and effort involved, in return for a fee. If you are a particularly busy individual that does not have the spare time in which to these do things for yourself, then these services may be worth it for you.
If however, you have the time and motivation to repair your credit report for yourself, and simply lack the knowledge, you will find that there are many articles on the internet that detail 'do it yourself' credit repair.
If you decide that the services of a credit repair attorney could be of interest to you, it is strongly advised that you get at least three quotes before committing to any one company. Most companies charge by the hour and are vague about their rates, so the cost of the services can really add up if you are not careful.
