Credit Repair Companies and the ECRA

When you are out seeking credit repair services, what is the most important thing you look for? Most commonly the answer is, “the fastest results.” But this is a very wrong-headed answer – one that will lead you astray in choosing a credit repair agency and many times, one that will use tactics of questionable legality to raise your credit score.

Does that surprise you? Let’s take a look at it.

When you’re looking to get your credit fixed “fast”, you are leaving yourself open to corrupt credit repair services that are conceptualized and marketed exactly along these lines. Here are five important tips that will ensure you get the best credit repair services, and not get involved with corrupt credit companies.

Tip No 1 – trustworthy credit repair agencies never advocate quick-fix methods to help your credit report or score. Rather,, a trustworthy credit repair agency will make sure you are informed as to what credit repair services you can expect. These services will be spelled out in a contract. Be sure to insist on having a contract; and if the contract is absent, it’s a dead giveaway that this agency and the credit repair services they offer are fraudulent.

Tip No 2 – All the above board credit repair companies will make you aware of your rights and guide you regarding the credit repair services you can do for free. Things such as getting a free annual credit reports from the three bureaus, detecting errors in your report, disputing those errors, managing your finances and so on, are things that you may, at one point in time, do on your own.

The company will teach you what you can do yourself with little effort, and what will better be left in the hands of professionals. The trustworthiness of the credit repair company you are considering can be determined based on these kinds of interactions.

Tip No 3 – No reputable credit repair agency will ever hint at using illegal means. There will be agencies that advertise a “new identity”, complete and guaranteed removal of bad entries, increase of a poor credit score overnight and so on.

Please! Before you take such claims seriously, visit the Government site of the Federal Trade Commission (FTC) and checked out what it says about repairing your credit score. You will then understand that the credit repair services promised by companies such as these are fraudulent and even illegal in some cases.

Tip No 4 – Every trustworthy credit repair company offers, as a part of their services, quality counseling without additional charge. As we have already discussed, an ethical credit repair company is always prepared to help you become financially self-sufficient. They will be prepared to offer you top-quality credit repair services and at the same time show you what you can handle on your own. If you find that the agency discourages you from learning about credit repair, contacting a credit bureau, and/or discourage you from taking any action on your own, than you would be well advice to look for another company.

Tip no 5 – I am leaving the best tip for last, because this is what will remain in your mind long after you finish reading. Look into those organizations with which your company of choice is affiliated. As an example, many leading companies of this industry adhere to the code of ethics outlined by the ECRA (Ethical Credit Repair Alliance), which ensures that you – the customer – get the best possible credit repair services. Make sure the agency of choice has membership in a recognized regulatory agency.