Filed under: Credit Repair
There are dozens of articles talking about how to keep yourself from becoming the victim of a credit repair scam. Most itemize a list of warning signs such as companies that charge hefty upfront fees, claim to help you create a clean credit identity, don’t keep you informed of your right to repair you credit yourself, and generally make misleading or untruthful statements. At this point, however, a very small percentage of articles mention that there are credit repair companies like Lexington Law who do not participate in the practices that are common to a credit repair scam. In fact, many articles from established news agencies like CNN end by suggesting people “get legitimate help” from consumer credit counseling services.
Not only is this advice incomplete, but it is also completely useless to people who truly could benefit from the assistance of a legal credit repair service. Credit counseling programs may be able to assist people who are unable to make payments on their debts, but it will do nothing to improve your credit rating. Some credit counseling programs even have the potential to make your credit look worse.
Unlike consumer credit counseling services that aim to bring your finances under control, credit repair services are designed to help you raise your credit score. They are not mutually exclusive services and in many cases, a person who has used a credit counseling service to help overcome their debt issues becomes a good candidate for credit repair once they have completed the program.
Legal credit repair services do have a purpose and it is a disservice to say otherwise. Hopefully as consumers and news columnists alike become more familiar with credit repair and the services credit repair organizations provide, we will start seeing more of a balance between news stories warning of credit repair scams and news stories listing the qualities to look for in a reputable credit repair service.
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