Why Credit Repair Agencies Aren’t Worth It

As much as they promise, credit repair agencies often cannot clear up your credit record more than you can. If you still have bad credit, we can help.

You’ve got a few blemishes on your credit report that you would like buffed away so that you can get a mortgage and buy the home of your dreams. You do a quick search and find credit repair agencies that claim they are all-powerful and can make your credit report sparkling clean.

Unfortunately, most of the time, they can’t do any more than you can.

What kind of blemishes can be cleaned up?

It should be said firstly that only incorrect listings can be wiped from your credit report, and anything else is usually not possible – such as when you have defaulted on payments or other historical information.

One way wrong information can appear on your credit file is in the case of identity theft. This is when another individual pretends to be you to get a line of credit, meaning any enquiries and debts they take out under your name get recorded on your file.

Of course, not having your identity stolen is a great way to prevent this happening and it is quite easy to take precautionary measures: locking your mailbox, shredding all important documents with your details, and installing and running anti-virus software on your computers regularly.

The first thing you should do to see what blips you have is to contact a credit reporting agency to get a copy of your credit report – most of them will supply the report to you for free once a year.

How do I wipe them?

This is the easy part. If there are genuine errors in your file, then you can lodge a complaint with the agency.
You can also try talking to the company where the false allegation was laid. A further complaint can be sent to the independent dispute resolution or ombudsman service that the company belongs to if things do not progress.

If you don’t have the time to go through these steps, then by all means, go through the credit repair companies.

Even if you aren’t able to cleanse your past, there are other options available.

Here at Redrock, we are specialists in providing bad credit home loans. Our team will sit down with you and go through the individual items on your credit report and then tailor a solution for you so that you can buy that house you can’t wait to live in.