SHOULD I PAY SOMEONE TO REPAIR MY CREDIT?

OR

SHOULD I DO IT MYSELF FOR FREE?
 

This decision requires some investigation to prevent wasted time, effort and money.

This site was designed to educate the general public on the various credit repair methods used to repair, and ultimately restore their own credit rating in the least expensive manner in the shortest possible time.

The information pages of this website hold the necessary information and resources for anyone to perform credit repair and are completely "Free of Charge".

  Speedy Credit Repair does offer an inexpensive alternative for those who want "Step By Step" directions .

Our Interactive Program is a simple walkthrough to credit repair which if followed; will effectively help you remove inaccurate negative items from all 3 Credit Reporting Agencies.

The average person could finish the process of Credit Repair within about 1 Hour.

Who Needs Credit Anyhow?

Unless you can afford to pay for all the things you want and need with cash, credit will continue to be a necessary part of your life.  I am sure you have heard others insist; " I will just pay cash for what I need".  That would be fine if you don't mind the inconvenience of being denied hotel reservations, airline tickets, car rentals or even a simple movie rental from your local video store. These services are only available to those who can guarantee the transaction with a valid credit card.  OK, for the sake of argument you could indeed rent a video from most agencies if you are willing to fork out a $200 deposit. You could also overnight a "Cashier's Check" or a "Money Order" to make a reservation at your favorite vacation spot.  In addition to the added cost of these services, there is no guarantee of these services until your payment arrives in the reservation takers hands. Car rental agencies will not rent to you at all without a valid  credit card.  Speedy Credit Repair can help!

Starting To Get The Picture?

Credit is a privilege that most of us would not fare well without. It can be debated all day and into tomorrow whether or not credit card companies share in the blame by encouraging frivolous spending habits. The trick is learning to make the credit card work for you.

The following are Speedy Credit Repair's FAQ's to assist you in your credit repair efforts.

Is Credit Repair Legal?

Credit repair is completely legal as long as you follow the rules provided by The "Fair Credit Reporting Act". Otherwise known as the FCRA, the Fair Credit Reporting Act was enacted to protect all citizens from unfair practice by creditors as well as the Credit Reporting Agencies.  Speedy Credit Repair uses only legal remedies for the purpose of assisting it's members in removing negative credit.  No need for looking over your shoulder for the rest of your life because you used shady tactics and illegal activity to improve your credit.

Can I Do Credit Repair Myself?

You can not stop the Credit Reporting Agencies from reporting information, but you can have a say in what they actually report.  Because of the enormous influence CRA's have on your life, The United States of America does have a weapon that any citizen can and should utilize. It is "The Fair Credit Reporting Act" (FCRA). The Fair Trade Commission (FTC) is your best partner in protecting your right to get the credit you need and deserve. The FTC states that an individual has the right to be involved with the practices of the CRA's to insure that they report only that information which is 100% accurate.  The FCRA also provides that if information is not 100% accurate; IT MUST NOT BE REPORTED!

Should I Pay Someone To Do Credit Repair For Me?

I am sure that you have seen or maybe even considered one of those "Credit Repair Services". Many of these companies promise what seems to be "Too Good To Be True".  If that thought has passed through your mind; Good For You!  An aware and informed consumer is more likely to make the correct course of action with their credit repair situation.  The truth is that many credit repair services can indeed perform and get excellent results. The sad part is that just as many will take your payment and do little more than deplete your hard earned savings.

How Do I Choose A Credit Repair Service?

If you have the luxury of time, Speedy Credit Repair always suggests that you perform credit repair for yourself.  However, if you should choose to pay for a credit repair service, you should know "The Rules" for distinguishing the legitimate credit repair service from the Fly-By-Night operators.

1. THERE ARE NO GUARANTEES! The law does not allow for credit repair agencies to charge for promised results up front.  Any credit repair agency who offers you a guarantee of results should give you cause to move on to another credit repair service.
    
2. Always get in writing exactly what services you will receive and the amount you will pay.  Speedy Credit Repair suggests a credit repair company who will work on a predetermined price based solely on a service term period which exactly what efforts will be implemented during the term contractually agreed upon.
    
3. A second option would be to pay on a success percentage basis. This is when a credit repair agency charges you a reasonable and nominal fee to set up a basic account for you. They then charge you a predetermined fee for items after they have successfully been removed or corrected.  Your initial setup fee is not typically refundable, but often times will be partially credited toward your credit repair charges incurred.  If you have a large number of derogatory items, Speedy Credit Repair strongly suggests a term period payment plan. 

Can I Get A Credit Card If I Have Bad Credit?

There are many credit card companies who will issue a credit card to most anyone who applies.  I am sure you have received countless E-Mails and regular mailings for these companies. They don't always tell you about the outrageous fees, membership costs and other interest charges that are attached to them until you have invested much time, another inquiry on your credit profile and possibly costly application fees. 

Not all credit cards are the same!  For your convenience, Speedy Credit Repair has reviewed a list of many Secured and Unsecured credit card issuers for their benefits, fees, acceptance policies and effectiveness in reporting positive credit information to the credit reporting agencies. 

*Please Note:  Although Speedy Credit Repair has provided links to many credit card providers; Speedy Credit Repair will not offer links to the sources who are widely known for their exclusive issuance of cards to the "Credit Challenged". 

Here's Why!  We know that nobody wants to be embarrassed when presenting a credit card that everyone will know is only issued to those who have less than perfect credit.  Speedy Credit Repair does not want its clients to be overcharged or otherwise treated unfairly by unsavory merchants who see poor credit as an excuse to overcharge unfairly due to an unsavory merchant who recognizes one of these "High Profile" credit cards.  Lastly, other credit grantors recognize these cards due to their position in the "High Risk Credit Market" and may use this information against you when reviewing your credit report for additional lines of credit.

How Long Does Bad Credit Remain On My Credit Report?

Most people are unaware of exactly how long credit items will remain on a credit report. It is actually very "One Sided". The "Fair Credit Reporting Act" (FCRA) mandates the duration of time negative credit items can remain on your credit report.  The sad part is that the Credit Reporting Agencies (CRA's) benefit from collecting and leaving these negative items on your file. A common myth it that CRA's are run by The Government. This is False!  CRA's are merely clearing houses that make their money compiling and selling "Your" information. Private companies pay CRA's to provide them with information to determine your worthiness to obtain credit or career positions.  Without negative information, CRA's would go out of business! 

Bad debt remains on your credit report for 7 years from the date of last activity. Other items such as Bankruptcy or Civil Liabilities can remain for up to 10 years from the date of last activity. Do Not Be Fooled! A bad debt can remain on your credit report forever if you are not aware of:

 "The Rules"

·         Bankruptcies: Will be reported for 10 years from the date of entry for relief.

·         Suits & Judgments: May be reported for seven years from the date of entry or expiration of applicable statute of limitations, whichever is greater.

·         Tax Liens – Paid: May be reported seven years from the date of entry.

·         Tax Liens – Unpaid: There is no limitation on the reporting of unpaid tax liens.

·         Collection Items: Information may be reported for seven years, beginning 180 days after the date of delinquency, which immediately preceded the collection activity.

·         Charge-off to Profit and Loss: Information may be reported for seven years, beginning 180 days after the date of delinquency, which immediately preceded the charge-off.

·         Criminal Record Limitations: There is no limitation on reporting information on criminal convictions.

Other Adverse Information:  May be reported for seven years.

Example:   If you stopped paying for your Sears Card on January 1st, 1995, your credit would not come off on January of 2002 as you     might think. It is interpreted that negative credit shall not be reported after 7 years from the last activity on the account. This means that it is required to be removed 7 years after being charged off by the credit grantor.  Also, if you decide to buy a house and the mortgage underwriter requires you to pay the balance of the outstanding debt, the 7 years starts all over again! The only difference:        "PAID CHARGE OFF" will now appear on your credit for 7 more years.  

This is still a negative remark!