3 TIMES YOU SHOULDN’T USE AN EXTERNAL CREDIT REPAIR COMPANY
Most people think of external credit repair companies as a quick and easy way to clean up their credit report and repair their bad credit, but this is often not the case. Before you use one of these companies, make sure that you’re not making one of these three common mistakes that can damage your finances even further.
Make sure you have no errors on your credit report
Before you even consider using External credit repair companies, you should check your credit report for errors. The Fair Credit Reporting Act (FCRA) requires each of the nationwide credit reporting companies; Equifax, Experian, and TransUnion to provide you with a free copy of your credit report every 12 months if you request it. You can request your free report from each of the credit bureaus online, by phone, or through the mail.
If you’re behind on payments, make sure you can pay back the money you owe
If you’re struggling to make ends meet, it can be tempting to look for a quick fix. But before you sign up for a credit repair service, consider this: many of these companies are scams. They may promise to help you improve your credit score, but often they do nothing more than give you false hope.
Don’t be fooled by false promises of a guarantee
When you’re struggling with bad credit, it can be tempting to turn to a credit repair company for help. But beware, not all of these companies are legitimate. In fact, some of them may even make your situation worse.