No one needs to be facing bankruptcy in order to contact a professional debt management service. They can help you with money management counseling, whether getting a consolidated loan is an option and if there is anything on your credit report that can legally be removed. The best thing you can do before you contact just such a service is to see your own credit report and then see if there are any strange transactions which may indicate identity theft.
The three companies that offer one free credit report a year are Equifax, Trans Union and Experian. These credit reports are often many pages long and are often in surprisingly small print. Sometimes, the reports seem as if they were written in a different language. This is another reason why credit repair professionals can help you fix bad credit because they can interpret the credit reports for you.
Tips for Finding a Company
Where can you find a company that can help you fix your bad credit or improve your credit score? You can always crack open a phone book, but it will seem that about one third of the book is made up of financial services. In order to keep yourself from being overwhelmed, call your bank or your credit card company and see what local or national credit repair companies they recommend. Banks work with these companies all of the time.
If you are not comfortable calling your bank, then you can go on-line and enter the phrase “finding a debt consolidation company” into your favorite search engine. You should come up with some company names. Check out their websites and then go to the Better Business Bureau website to see if any complaints have been made about them.
Although there are many reputable debt consolidation companies, there are always scam artists out there. But there are solid ways of detecting them without losing a lot of time or money. First off, none of these professionals should ask for money up front before you’ve had any kind of consultation with them. Good credit repair companies will offer you a free consultation before they begin to mention fees.
Next, no one should guarantee that they can fix your credit report, wipe off any bad information on the report like a bankruptcy or open up a new credit report for you. They also should not ask you to lie or “fudge” any information about your earnings or what you owe. All of these techniques are bright neon signs that you need to get out of there as soon as you can.
There are many qualified money management professionals available to help you get out of debt and fix bad credit.