Credit repair … can you do it yourself? The short answer is yes, you can do it yourself. Repairing your credit is simply a matter of following a predetermined set of steps that almost anyone should be capable of following.
These steps basically include the following:
1) Obtain your credit report from the three credit bureaus.
2) Examine the reports for any inaccurate information.
3) Send a letter disputing these inaccuracies to the different credit bureaus.
4) Wait for the bureaus to respond to your dispute(s).
5) Re-examine your credit report after 30-45 days to verify that the disputed items have been removed.
6) Filing a dispute letter for further inaccuracies.
Now should you use a "do it yourself approach" to credit repair?
That is a completely different issue.
There are many companies that make ridiculous claims like "we'll eliminate all negative information from your credit report in less than 90 days" or "we'll raise your credit score by 100 points within 3 months".
Any company that makes claims like these should be avoided like the plague.
But that does not mean that there are not credit repair specialists out there that really can improve your credit report and score. These companies basically follow the same steps that you would to repair your credit but the difference is, these folks are professionals.
As professionals, they know what flaws can be readily removed from your credit reports in the least amount of time and they pursue these first. Then they start attacking the problems that might take longer to correct.
The pros know exactly what kind of dispute letters work and they employ these letters on your behalf. They deal with the credit bureaus on a daily basis and because of that, they know exactly what steps to take in what order to maximize the effectiveness of their efforts on your behalf.
Back in 2006 my son was in need of credit repair. He and his wife wanted to buy a new house but because they had filed bankruptcy two years prior to that because of a failed business, their credit wasn't "good enough" to allow them to purchase their new home.
They decided to hire a credit repair company to repair their damaged credit and after only nine months, their credit was improved enough to make the new house a reality.
In my opinion, if a person is in need of credit repair and has the ability to pay for a professional to do it for them, then hiring a specialist is the way to go. If you don't have to, why take chances with something as important as repairing your credit?