Should you be using that Credit Repair Service?

Estimated Monthly Savings: $150

Those people in need of credit repair and rehabilitation need to conserve their expenses as much as possible.  They need to save every penny and repay debt as quickly as possible. They also need to use the legal system, arbitration rules and generally good practices like writing letters to expunge as much bad credit reports from their record as possible. What they do not need to do is to buy expensive credit repair services that drain money and provide little of value. That is why it is much better to simply use public guidelines to help yourself.

In fact, everything that a credit repair service does they advertise right on their website. Firstly, they monitor credit which anybody can do themselves by simply contacting the credit reporting agencies (Experience, Equifax and TransUnion).

Secondly, they write into these agencies to get any bad reports, old reports or mistaken reports expunged from your record. This task is fairly easy to replicate simply by finding the addresses of the agencies, using online templates for the letters and changing the names and dates that fit your case.

Worst of all, credit repair companies take a monthly deduction from your credit card or bank account. This fee is of little value, especially at a time when you need to conserve as much cash as possible to pay back creditors. These services are simply not helpful to the goal of reducing your debt load.

MonthlyExpense is a leading site helping individuals get their financial house in order and on the road to financial freedom. For more information, please contact us.