For the purposes of this article, I compared the contents of two “credit repair kits”. These are being sold all over the internet. The ads go something like; “Repair Credit Rating! Increase Credit Score! Do It Yourself!” I just wanted to see what they were selling and if it was worth fifteen or sixteen dollars.
A credit repair kit is basically an informational packet, compiled by a writer, put in a box and sold to you. One company advertises a $9.95 kit, but will not tell you what is in it. Another company charges more, but at least provides content highlights. These kits are supposed to help you repair credit rating scores. The only thing they really do is put some credit related information in one place for you. If you have a library card, you can find the same information at the public library.
The credit repair kit that lists contents starts off with “how to set goals for yourself”, which sounds more like a self-help issue than a credit repair issue. Goals are important in all aspects of life, but there are probably better sources of goal-setting advice than an internet credit repair kit.
Next on the list was “how to prepare a budget”. Budgeting is very important, but it will not help you repair credit rating scores. Next in this credit repair kit was “how to wipe out debts without bankruptcy”. The only way to “wipe out debts” is to pay them off, by setting realistic goals and creating a budget. If you are unable to do this on your own, a non-profit Consumer Credit Counseling Service can help you. A recent law requires that you get credit counseling before you can declare bankruptcy. But, none of this has anything to do with helping you repair credit rating scores.
Where to find a secured credit card and where to get the best deals on credit cards are two more “reports” included in this credit repair kit. This information is available on line at several different websites dedicated to providing information about credit card deals. These sites do not charge a penny for this service and there information is accurate and up-to-date. Credit card companies are always changing their offers. But, this still has nothing to do with helping you repair credit rating scores.
More information included in the credit repair kit; how to obtain your credit reports. This is information that we at the Credit Repair Blog have provided many times, but here it is again; www.annualcreditreport.com. Spell it correctly or you may end up at a site selling a credit repair kit. But, at least this does have something to do with helping you repair credit rating scores.
Next in the credit repair kit list is sample letters for creditors and credit bureaus. In general, disputing information on your credit report and having that information removed will help you repair credit rating scores. You can dispute information on line at the credit bureau site, but these sites are not user friendly. You can dispute the information in writing, which is why the credit repair kit is offering to sell you sample letters. Or you can call the credit bureau, another not so fun thing to do, that will normally result in the credit bureau employee advising you to put your dispute in writing. It is hard to say why sample letters to creditors are included in this credit repair kit. Disputes are generally handled in this way. You report the dispute to the credit bureau. The credit bureau contacts the creditor or investigates in anyway that the credit bureau deems necessary. The credit bureau contacts you regarding its findings and sends you a copy of the corrected credit report which will help you repair credit rating scores.
If you can handle this on your own, then you probably do not need a credit repair kit. If you need help, contact a legal firm that specializes in credit repair issues.
The writers and editors of the Credit Repair Blog are committed to providing accurate information to help you repair credit rating scores. Visit us at http://creditfixnow.blogspot.com
Written By: Patsy Rose
