There are many surprising, and even some downright shocking deceptions waiting for anyone who begins the treacherous journey of credit repair unprepared.
And I define unprepared simply as not having done even the most BASIC due diligence and research before seeking help.
In my opinion, and many people will probably not share, or appreciate this sentiment, but credit repair counseling services, especially some of the so called "non-profit" ones, can not only be a complete waste of your precious time, but in many cases can actually be HARMFUL to your credit score! Why? Very simple.
First of all, do NOT be impressed with a not for profit designation.
It is not difficult to get, can be rescinded and is not symbolic of any sort of governmental approval for the service you are hiring.
Often times, this is a well orchestrated and choreographed veneer simply for gaining the trust of an unsuspecting consumer who is predisposed to believe not for profit means a trusted source.
It doesn't and you shouldn't until that trust is earned.
Secondly, often time's credit repair counseling services actually are working in tandem with your creditors, helping them get their money back by establishing a repayment plan for you.
Often times these very agencies are also getting a PERCENTAGE of the re-payment you are making.
So find out where their bread is buttered so to speak.
You want an advocate for YOU, not one who is "helping" you with one hand, yet scratching your creditors back with the other.
Lastly, many arrangements that are created out of this sort re-payment agreement, as established through these counseling services show up on your credit report as such - and are difficult to remove later.
In other words, once you realize that the "counseling" really wasn't a huge help, and you want to try traditional credit repair methods - you may be out of luck! Keep these things in mind BEFORE you hire that next non profit, and you will be far better for it, I promise!
And I define unprepared simply as not having done even the most BASIC due diligence and research before seeking help.
In my opinion, and many people will probably not share, or appreciate this sentiment, but credit repair counseling services, especially some of the so called "non-profit" ones, can not only be a complete waste of your precious time, but in many cases can actually be HARMFUL to your credit score! Why? Very simple.
First of all, do NOT be impressed with a not for profit designation.
It is not difficult to get, can be rescinded and is not symbolic of any sort of governmental approval for the service you are hiring.
Often times, this is a well orchestrated and choreographed veneer simply for gaining the trust of an unsuspecting consumer who is predisposed to believe not for profit means a trusted source.
It doesn't and you shouldn't until that trust is earned.
Secondly, often time's credit repair counseling services actually are working in tandem with your creditors, helping them get their money back by establishing a repayment plan for you.
Often times these very agencies are also getting a PERCENTAGE of the re-payment you are making.
So find out where their bread is buttered so to speak.
You want an advocate for YOU, not one who is "helping" you with one hand, yet scratching your creditors back with the other.
Lastly, many arrangements that are created out of this sort re-payment agreement, as established through these counseling services show up on your credit report as such - and are difficult to remove later.
In other words, once you realize that the "counseling" really wasn't a huge help, and you want to try traditional credit repair methods - you may be out of luck! Keep these things in mind BEFORE you hire that next non profit, and you will be far better for it, I promise!
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