The Benefits of Hiring a Credit Repair Firm

The good news is that we now live in a time when software can help us do almost everything.

The bad news is that software can only go so far in replacing professional services.

You can buy software for everything from filing taxes to boosting your credit score, but it's best to give your valuable credit score to pros when it comes to the latter. The main reason is that credit restoration software will demand you to do 99 percent of the work, and unless you are a credit expert, you will not benefit much from it.

The following are some of the reasons why hiring a credit repair lawyer is preferable to employing credit repair software.

TIME IS SAVED BY HIRING A PROFESSIONAL

Repairing your debt can be a time-consuming experience until you realize that boosting your credit is as simple as making a request for investigation to one of the three credit agencies. When it comes to holding a creditor accountable for fraudulent reporting, lawyers may be required in some situations.

You will need to be involved when you hire a professional. Most organizations, for example, conduct a consultation and an intake session when they acquire as much relevant documentation from the customer as possible. You won't need to devote much more effort to this attempt than attending these seminars and locating and submitting these documents.

Here are some success stories from consumers who used The Phenix Group to improve their credit:

Vincenzo is a client who has a unique story to tell.
Jimmy is a client.

The majority of credit repair businesses operate in the background on a monthly basis. Typically, all the client has to do is forward letters from creditors or bureaus.

Individuals who use software will have to go through their own documents in order to enter vital information into the system, which is effectively a glorified spreadsheet. They'll also have to read all of the correspondence letters and respond to them directly — all of which will take a long time.

IT IS NOT POSSIBLE FOR SOFTWARE TO FIGHT FOR YOU

To begin with, no software, no matter how sophisticated, can interface with credit bureaus or credit issuing institutions, so forget about disputing false reports or having liens and charge-offs removed from your credit record.

The bureaus are required by law to process requests for investigation and disputes within defined time frames. A professional credit repair firm will keep track of these deadlines and the process as it progresses.

They will ensure that the bureaucracies are acting in your best interests and will battle the inconvenient bureaucracy on your behalf.

At best, credit repair tools can keep you up to date on the status of your disputes, but you'll be the one to file the disputes in the first place and decide what to do with the process reports.

AN EXCELLENT INVESTMENT

There's no assurance that you or anyone you hire will be able to raise your credit score, but at the very least, if you engage a professional, you'll get a money-back guarantee if they can't help you.

There is no money-back guarantee when you "spend" in credit restoration software. If the software does not help you enhance your credit score, you are responsible for the amount you paid and the length of time you subscribed to the service.

Credit software solutions that are more advanced might cost up to $400. Most people's credit can be improved by at least a little in two months, which seems reasonable given that most professional credit agencies charge $30 to $100 per month.

AN APPROACH THAT IS MORE COMPREHENSIVE

The personal approach cannot be quantified, at least not at the time of this writing. When you engage a credit repair firm, you'll have the option of working with a human specialist to create a financial plan that you can stick to in order to improve your credit score.

This may include a thorough examination of your present obligations, finances, and financial goals, as well as one-on-one financial coaching services in some situations.

No software can do this in-depth research and come up with a financial strategy that is tailored to your individual scenario. In truth, most credit restoration software merely provides you with dispute letter templates to fill out and send to creditors.

You may be granted access to a real live credit expert who can help you through the procedure if you choose the more expensive software packages, but you will be spending the same amount as you would if you hired an expert without the added services.

THEY ARE ON YOUR SIDE WITH THE LAW

It's not always as simple as removing negative marks from your credit report to improve your credit. Sometimes collection organizations have lawyers on staff, and they will not admit that their actions are illegal or that their grounds for collection are untrue to the common citizen.

Software does not understand the law, and they have no way of demonstrating to these collection agency lawyers that they have made a mistake or that their acts are illegal. A high-quality credit repair professional, on the other hand, will be familiar with the legislation and will use it to your advantage.

Specific laws, such as the Fair Credit Billing Act, the Fair Credit Reporting Act, and the Fair Debt Collections Practices Act, have been enacted to protect consumers and can be used to your credit's advantage.

Consider the following scenario:

Under the FDCPA, a collection agency can only try to collect a debt in particular ways, and when they do, a professional can use the violation to dissolve the debt for the client.

Simply said, no software can help you with this. Finally, employing credit repair pros can save you time and money while also ensuring that you have a long-term path to good credit.