Demystifying Credit Repair Myths

Posted on 09 October 2018 (0)

The credit repair industry is surrounded by myths and misconceptions that arise from illegal practices. There are also impracticable credit repair time frames that affect what people think about the industry. With time, the myths have created damage to the industry and have left people wondering if the sector is reliable.  

Although there are some repair companies with lousy reputation because they are scam-driven, reliable companies still exist, and they are doing the best they can to demystify the myths to restore the status of the industry.

Potential customers in search of reliable credit repair companies should be aware of these popular myths.

Myth # 1: The Credit Repair Industry is Illegal

This could not be further than the truth. There are many legitimate credit repair companies in operation today, and they would not be able to function if the services they offer are illegitimate. Secondly, the process that the companies follow is enshrined in law. For example, they strive to dispute the items that make your credit score drop, something that you can legally do on your own. The reason most people engage the professional services is that it is more efficient that when you are working on your own.

Myth #2:  The results are the same if you repair your credit on your own

This is a prevalent belief, but it is skewed. If you compete against a well-established credit company as an individual, the chances are that you will lose the battle. The methods used in the process of repairing your credit score are more efficient when applied by a company than when you handle the process individually.

You will save the money you might have paid for the services, but you will lose in time and energy.  It is more useful to use the services of a company than when you do it on your own. You are better placed if you use a company with a money-back guarantee.

Myth #3: Engaging professionals is a guarantee your score will raise

Although the purpose of the credit repair industry is to help you improve your scores, it is not always a guarantee that your score will increase. It is the same if you try to repair the score on your own. The process of rebuilding credit comes with a certain extent of unknown risk.

The company you hire will do its best in disputing errors that can improve your score, but it cannot guarantee that every dispute will successfully raise your score. Stay wary of any company, individual or service that promises to improve your credit score.


Bad credit rating is a problem that affects many individuals. It curtails your borrowing capacity and limits the amount of financing that you can get. Trying to restore your credit score can be a tiresome process, and this is why credit repair companies are crucial. They strive to legally represent you in the process while saving you time and energy.  

Many myths surround the industry. By mystifying them, you will realize how vital the industry is, and you will have no reservations using the services.