Credit Repair Services vs. Do-It-Yourself Credit Repair

Millions of Americans suffer because of bad credit these days, and almost all of these people turn to the Internet for help. In the past 5 years hundreds of 'internet-based' credit repair services have sprung up, preying on consumers in need of real help. Most of these companies have built less than desirable reputations by over-promising and under-delivering; all the while taking millions of dollars from those in need.

For this week's article I am going to compare 'internet based' credit repair services to repairing your credit yourself using a system like Loan Saver PRO: The One Hour Credit Repair System. Hopefully I will open your eyes to the fact that you can do everything they can do, for far less money, and achieve even better results in far less time.

Cost Comparison

Credit Repair Service ? Almost every credit repair company found on the internet charges a set-up fee of at least $60 and an ongoing monthly fee of at least $49. They initially tell you that your credit repair work will probably take around 3 months to complete. In reality, your credit repair work ends up taking close to a year or more and now you've paid them at least $600. The goal of most credit repair services is to take their time repairing your credit so they can keep debiting your bank account.

Do-It Yourself Credit Repair ? There are several 'do-it-yourself' credit repair systems found on the internet. Most of these systems cost no more than $40, which is less than the set-up fees for most credit repair services, plus there is no monthly fee. Some of these products are good and some are bad-whichever one you choose, don't use a 'do-it-yourself' system that uses 'pre-made' letters to launch disputes; I'll explain this in more detail below.

Dispute Letters

Credit Repair Service ? Almost every 'internet based' credit repair service, and some 'do-it-yourself' credit repair systems, use 'pre-made' attorney letters to dispute information on your credit report. Using these types of letters often raises major red flags at the credit bureau level and may result in your dispute request being denied. How do you know if your dispute has been denied? You'll know when you receive a 'Will Not Take Action' letter from the credit bureaus.

Do-It Yourself Credit Repair ? There are two primary ways you can dispute negative items on your credit report. One way is to write several original letters to the credit bureaus, which can take several hours to complete and adds weeks onto the credit repair process.

The second and easiest way to dispute negative items on your credit report, is to launch your disputes online. The credit repair system that I helped develop, Loan Saver PRO, shows you step-by-step how to order the right credit reports (yes, there are some wrong ones), launch effective online disputes, and manage the whole credit repair process.

Results

Credit Repair Service ? To get your scores into the 800's would take over 10 years of perfect credit, so don't believe it. 'Internet based' credit repair services will also try to tell you where your score will be in 30-60 days and that's impossible to predict. Also, any credit repair service that promotes pipe dreams of a new car and a new house is not to be trusted; unless of course they plan on loaning you the down payment.

Do-It Yourself Credit Repair ? A reputable 'do-it-yourself' credit repair system should never promise a certain score. However, I will promise that if you decide to use a reputable 'do-it-yourself' credit repair system, and are patient, your scores will increase significantly. On average, I have seen the Loan Saver PRO credit repair system raise scores into the high 600's and low 700's. With those scores, you can likely get any loan or credit card you desire, and at the best rates possible.

Again, I hope the above information will help you make a better decision when deciding what to do regarding your credit situation. If you still decide to work with an 'internet based' credit repair service, make sure you do your research, and don't say I didn't warn you.

To help get you started with the 'do-it-yourself' credit repair process, my company Loan Savers LLC, offers a free guide that will help you order the right credit reports needed to repair your credit. Visit http://www.loansaverpro.com and click on the 'Free Insider's Guide' link to request our 'Insider's Guide to Ordering Your Credit Reports.'

Todd Disraeli ? Loan Savers LLC © 2004-2005

Todd Disraeli has been in the mortgage and credit repair business for over 10 years. Todd's primary expertise is consulting with mortgage companies and helping them turn declined loans into approved loans. Todd uses his extensive knowledge and experience to help mortgage companies, and their loan officer's, work smarter and not harder.

Although he might seem controversial at times, he speaks the truth whether the credit bureaus like it or not. Feel free to contact Todd directly at tdisraeli@loansaverpro.com.

---

4 Steps You Can Take If Your Online Credit Card Application Has Been Refused

Help! I've Been Turned DownYou received an envelope in the... Read More

Useful Tips on Borrowing Money

Here are some useful tips on borrowing money. Borrowing money... Read More

5 Ways To Raise Credit Score

It's not as hard as you think to raise credit... Read More

Credit Repair, How To

Credit repair, is in a word, vital to reestablishing your... Read More

First Major Regulatory and Legislative Victory of 2005 for Creditors and Consumers

Under the Fair Debt Collection Practices Act, collectors are not... Read More

Credit Suicide

Few things influence the home buying process more than your... Read More

Do You Want to Get a New Credit Card at a Great Rate?

1) Do your homework. Applying for and getting approved for... Read More

Online, Phone, U.S. Mail or In-Person: Where is Your Credit Card and Personal Identify Safest?

Identity theft is the fastest growing crime according to the... Read More

Cash Back vs. Rewards Credit Cards

Ah, the sweet rewards of using credit!Not only do you... Read More

Restore Your Credit Rating And Reduce Your Debts

Your credit rating affects many areas of your life. Opening... Read More

Fun with Credit Cards

For those of us who know how to use them... Read More

Fair Isaac Corporation Credit or FICO Score

As I am not from the US, I had no... Read More

Different Types of Credit Cards and Features - Part 1

Just as there are too many credit card companies to... Read More

How Do I Establish A Good Line of Credit?

A line of credit, roughly defined, is the amount of... Read More

What You Need to Know About Credit Reports

You hear people talk about credit reports all the time... Read More

10 Simple Steps to Manage Your Credit

By far the greatest invention the banks have ever come... Read More

Establishing Credit ? What You Need To Know Part 2

In my previous article "Establishing Credit ? What You Need... Read More

Winning The Credit Game!

Everywhere we go, the word credit can be found, shining... Read More

Teaching Students To Keep Out Of Credit Card Debt - The Parents Role

Parents have the full responsibility for their children and their... Read More

How To Read Your Credit Report

The Fair and Accurate Credit Transactions Act, signed into law... Read More

Avoiding ID Theft and Credit Fraud

Article excerpted from the new book, "How to Do Space... Read More

What is a Credit Report?

Ever wondered what is a credit report? If you've ever... Read More

Learn About Prepaid Credit Card

Prepaid credit cards also called stored value card can be... Read More

How Creditors Measure Your Credit Rating

Creditors will measure your credit rating based on the following... Read More

Balance Transfers Can Help You Stop Putting Money Down The Drain!

As you probably know, interest rates are at all time... Read More

Why Your Credit Score is Important

Your credit score can either haunt you or reward you.... Read More

Finding and Applying for the Right Credit Card Offer Online

Anywhere you go online nowadays, you will see a multitude... Read More

Boosting Your Credit Score To Get The Best Credit Card Deal

Making Your Credit Rating Work For YouOne of the basics... Read More

Credit Cards - The Basics

How Lenders Operate ? And How They'll Make a Tidy... Read More

Credit Scores and Loan Applications

Keep Your Credit History Clean - Remove A Negative Credit... Read More

SuperCharged Secret 4, Credit Card Utopia

YOU SCRATCH MY BACK, AND I'LL BUY SOME MORE BEER!Let's... Read More

Why Does FACTA Matter to Me?

FACTA stands for Fair and Accurate Credit Transaction Act. FACTA... Read More

SuperCharged Secret 5, Credit Card Utopia

LIVING IN CREDIT CARD UTOPIALet's just take a brief moment... Read More