Beware of Credit Repair

Mortgage and Lending with Cardinal Financial Company, Limited Partnership NMLS 365858

The FTC says on their website, "Self help may be best".  It even goes on to say that "Everything a credit repair clinic can do for you legally, you can do for yourself at little or no cost."  It may be strange that a Credit Restoration Company such as my self would put this on a blog, but the information is out there.  I do agree with the FTC and what they stand for, after all, I am a consumer as well and want to be protected from the scandalous companies that prey on the general public.  I agree with the FTC in the aspect that there are many companies out there that are liars, cheaters, and thieves.  As with all professions, there are several companies and individuals that lack the moral fiber and ethics that most of us adhere to, thus smearing the reputation of an entire industry.  I remember when I first started selling cars when and I told my friends about it.  The first thought in their mind is the stereotypical pushy and obnoxious used car salesman seen on sitcoms and movies.  The public perception is a big deal, and unfortunately, for the lot of us, who are out there to make an honest living and help our clients, we sometimes are branded with an image that is not entirely true.

Going back to where the FTC states that "you can do for yourself" what a credit repair company can do.  That's true.  You can also buy and sell your own home, cut your own grass, cut your own hair, clean your own pool, service your own car, and even represent yourself in court.  We all provide a service to the general public.  The fact is, with any service, experts and professionals know the way to obtain results better than our consumers.  Plus, with our experience and our knowledge of our respective fields, we know what needs to be done, how it needs to be done, and spend our time making sure it happens.  Plus, we have the time and resources to dedicate ourselves to work for the client, luxuries they don't have with their jobs and family.  We are there to make things easier and to provide results that they themselves may not have produced due to the lack of time, resources, and knowledge.

Are there bad credit repair companies?  Yes.  Just like there are bad mechanics, auto dealerships, real estate agents, mortgage brokers, lawyers, builders, etc.  As professionals, it's up to us to be the best at what we do and delivering quality service to our clients.  As clients, it is your duty to find a reputable company that's purpose is to help the client the best way possible in the most ethical and professional manner.  Get personal references and interview them and determine for yourself.  Check their credentials and if possible testimonials and results.

I hope this finds you well.  Have a great day and God bless!

Comments (6)

Sean Allen
International Financing Solutions - Fort Myers, FL
International Financing Solutions

Hey James, It is true people can repair their credit but most of these peoples problems is that they are lazy and won't do it ....Soooo, they hire someone. Laziness is the root of all evil.

Sean Allen

Apr 04, 2008 06:28 AM
Brian Schulman
Coldwell Banker Residential Brokerage, Lancaster PA - Lancaster, PA
Lancaster County PA RealEstate Expert 717-951-5552
Good advice, James.  It's true that the information is out there,but many folks need some guidance and help, just as with real estate.  It's possible to sell you own house, but there are good reasons for using a professional.  The important thing is to find an effective, honest professional.
Apr 04, 2008 06:31 AM
Olan Carder
Fairway Independent Mortgage - Charlotte, NC
I have a great credit repair company I refer business to.  They have helped my clients for years and I end up closing mortgages for a great number of these clients and with low rates!  Their credit gets restored properly and they get educated on how to keep it that way.  Before this service existed, I never seemed to close a loan for people once the first answer was no.  They just got frustrated and discouraged.
Apr 04, 2008 06:31 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

You are right, and it is a well written post. You put information that consumers can do everything themselves and save money and then you rightfully show that people, who specialize in their respected field can do it better, faster, and with less hassle.

Not only you can cut you grass and your hair, you can do appendectomy on yourself and there are examples of that, but would many do it?

You can legally defend yourself in court, but would you do it?

Apr 04, 2008 06:32 AM
James Jeter
Cardinal Financial Company, Limited Partnership - Carrollton, TX
James Jeter

Sean - True, true.  That's the great thing about capitalism.  There's always someone else willing to do the work for you.  That's why God invented drive thrus!

Brian - It's very important to deal with a honest professional who knows what they're doing.

Olan - I'm glad you have a good credit repair company you're working with.  In the event that you are looking for another company that can give you a hand, feel free to give me a call!

Jon - Thank so much for the comment and reiterating the message of the blog!

Apr 04, 2008 06:42 AM
Lu Kalaj
Vision Realty Centers - Brighton Township, MI
Its too bad that the few that do work unethically, give others a bad name.  I agree, good credit, is self-maintainable.  Hope all is well.  Thanks for sharing your thoughts.  Lu
Apr 04, 2008 06:43 AM