Credit Repair Service: the Devil in Disguise (cont.)
Contributed by Kris Griebe
By law, a credit repair service must give you a copy of the "Consumer Credit File Rights Under State and Federal Law" before you sign a contract. They also cannot perform any services until they have your signature on a contract and have completed a three day waiting period. During this time, you can cancel the contract without paying any fees. The contract must also specify what the payment terms and total cost are for their services, along with a detailed description of the services to be performed.
Credit repair service: Don't despair
Just because you have a poor credit history doesn't mean you can't get credit. Each creditor has their own standards for granting credit, and not all of them look at your history the same way. Some may look only at recent years to evaluate you for credit. It may be worthwhile to contact a creditor to find out what their credit standards are.
If you can't seem to be able to resolve your credit problems, consider contacting a credit counseling service. There are many non-profit organizations in every state that counsel consumers in debt. These services are offered at little or no cost to the consumer.
As stated earlier, there isn't anything a credit repair service can do that you can't do yourself. The only way you can repair your credit is by having inaccurate information removed from your report along with making sure you make your payments on time. There is no magic wand you can wave to make things change over night, it will take some time.
