Unfortunately the information given to consumers from news sources about credit repair is not entirely helpful to people. The ones I have seen only tell you that you can repair your credit and that you might want to consult a credit repair company. Generally they also make mention of someone who has repaired their credit and what their situation was.
When it comes to repairing credit, doing it after a bankruptcy is probably the simplest situation you could find yourself in. Here is why. If you have gone bankrupt, and the bankruptcy has been discharged, you don't owe anyone anything anymore. (Unless you decided to keep some debts out of the bankruptcy by choice.) It too often happens that after a bankruptcy, your credit report will not update correctly. There are often still accounts with balances reporting on your report even though the debt has been fully discharged. This is very common. In fact, a lot of your accounts will probably be like this.
Generally, if you send out one 'wave' of credit dispute letters, you will take care of this problem. The reason is simple. These creditors have nothing to collect from you anymore. Why would they confirm a debt that has been absolved in a bankruptcy? Do you really need a company to do this for you? You probably do not, unless you simply can not find the time to do the simple self credit repair involved. But be advised, even if you work with a company, there will still be a fair bit of effort you are going to have to put forth.
The work the credit repair company does is actually quite minimal since they use credit repair software to produce all your credit dispute letters. You can find such software available to the public even for free on some Credit Repair web sites. Additionally, you can find versions of it that can cost anywhere from $29 - $99. This software is designed to simply process data that you enter to make your credit dispute letters. It isn't 'magic' or anything like that! You enter the data; it spits out your letters. It's exactly the technology used by the big companies. Sure, they know a bit more than you will, but a bit more reading and research on the web and you will probably know as much as half of the people working in the credit repair industry.
I have seen many of my own clients repair their own credit, and I have counseled them against doing it through any company or service that charges hefty fees. In the end, many of those clients have thanked me for encouraging them to tackle their credit issues on their own. They saved prodigious amounts of money compared to what they would have paid a company to do it for them, and the results they have gotten were every bit as amazing as what they could have gotten by going with a company. Repairing your credit on your own is really not as difficult as the general public is often led to believe.
Matthew Wierzbinski is one of the owners of www.creditblossom.com. He was a mortgage broker for over 7 years and during that time he was able to help people repair their own credit successfully. All the knowledge he built up during those years has been poured into the CreditBlossom web site. Matt wrote a credit repair guide and built credit repair software. These are available to the public for free at the CreditBlossom.com web site. Self credit repair is something anyone considering repairing their own credit should look into before they approach a company. The process is simple enough that anyone with a little time can figure it out. Using the CreditBlossom.com system makes it even easier. The site walks you through the details and the software makes writing dispute letters extremely easy.
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