If you have less than perfect credit, you may not be able to obtain financing for larger purchases such as a car or a home. If you are able to get that financing you will probably end up paying quite a bit extra through high-interest rates. Oftentimes, a low credit score is due to poor use of credit; however, there are some reasons why it can be low that are not your fault. By repairing your credit, you can increase your credit rating and obtain the financing you need.
When posed with the question of “what is credit repair” people will give wildly differing answers. The truth is that credit repair services are misunderstood and there are a lot of stereotypes about what credit repair is and how it can help those with poor credit. Here, we aim to define credit repair so that you know if and when you need it as well as tell you what credit repair is not so you don’t go in with jaded thoughts about what a credit repair company can do for you.
There are millions of Americans with credit that would be considered bad or poor, which is a score that is 601 or less. Many of them consider credit repair as a way to improve their score. There is a way to repair your credit on your own, but there are credit repair companies that can help you as well. Are they worth the money? Let’s look.