Does Credit Repair Actually Work?
Between rising living expenses and tighter budgets, it’s not uncommon for many Australian households to experience financial hardships. If your credit score has been impacted, you may be considering a credit repair service. Like any financial service, it’s essential to consider the benefits and risks of this solution before signing up.
This blog will walk you through the pros and cons of using credit repair to ensure you make the right choice for your situation.
What is credit repair?
Credit repair is the process of removing or resolving any negative listings on your credit file, like black marks, unexplainable credit enquiries, defaults and more. This service is typically performed by a credit repair company with relationships with lenders or other institutions and can negotiate on your behalf.
Credit repair companies will work through your credit file and remove anything that may diminish your credit scores, such as errors or fraudulent behaviour.
The three benefits of credit repair
Interested in enlisting the help of a credit repair service? Here are three benefits you can look forward to:
A cleaner credit history — Keeping your finances tidy can go a long way in helping you achieve financial freedom. With a clean credit history, you’ll be able to take on your financial goals with confidence.
Removes inaccurate information — You may be surprised that many Australians have a lower credit score due to credit mistakes or enquiries they didn’t even make! Unfortunately, scams and other fraudulent behaviour still run rampant in Australia, leaving you to clean up another person’s mess. Credit repair can remove these details from your credit file, giving you a clean bill of financial health.
Increases loan approval — Cleaning up your credit score via credit repair boosts your chances of getting approved for future loans, ensuring you reach big financial goals.
The risks and limitations of a credit repair service
Of course, no service is perfect, and it’s essential to consider the risks and limitations you may experience with a credit repair service.
High costs — Every credit repair company has its own billing system, which may be out of your price range. Real Credit Repairers only charge clients if we are 100% certain we can remove black marks from your record.
Ineffectiveness — Many clients have poor experiences with credit repair companies who are unsuccessful in improving their credit scores. Real Credit Repairers promise complete transparency with our clients and are upfront with what we can and cannot do.
Real Credit Repairers — honest and experienced credit repair
At Real Credit Repairers, we understand better than anyone how important it is to have your finances in check. That’s why we offer a thorough credit repair service that erases black marks, cleans up court judgements, manages debt negotiations, repairs identity theft, amends defaults and more.
If you would like to learn more about our credit repair service, please do not hesitate to contact us today.
