San Diego, CA (PRWEB) June 10, 2014
LoanLove.com is a borrower advice website dedicated to helping people to find loans that they will love. One of the biggest factors to finding an affordable loan is being able to qualify for the best mortgage rates and home loan programs. However, those with damaged credit scores may find that they are unable to avail of such benefits. A new credit repair services guide from Loan Love helps those who are in this situation to find their best options.
This new guide from Loan Love titled, “Credit Repair Services Cost (Don’t Get Ripped Off!)” warns against obtaining credit repair services without thoroughly researching all the pros and cons. It states that while some credit repair agencies may be able to help hopeful borrowers to repair their damaged credit if their poor score is due to errors on their credit reports, many of the steps taken by a credit repair service are things that the individual can do on their own. Another consideration is the large amount of credit repair scams that will charge large amounts but do not uphold their claims of credit improvement. Others use tactics which could possibly further damage their clients’ credit scores, so research is a definite must if and when choosing a credit repair agency to work with.
The article goes on to give some information on what to look for in a credit repair agency, supplies some tips for going it alone, and then gives a third option which could very helpful for those who are seeking to improve their credit scores: credit counseling nonprofit organizations.
Loan Love says, “Unlike a credit repair company, a credit counseling organization is typically in the business of helping you to make better credit decisions in the future. While they are not likely to offer a quick solution, these organizations—particularly those that are organized as nonprofits—can provide some assistance in getting your credit back on track. Many will even negotiate payment plans with your creditors on your behalf.”
The article continues, “If you are looking to improve your credit score so you can get the best possible interest rate on a future real estate purchase, making use of services offered by a credit counseling organization, particularly when the services are free or at little cost to you, may be the right choice. In addition, it’s always a good practice to obtain a copy of your credit report and dispute any erroneous statements prior to applying for a loan. However, this step can be taken on your own, without the cost of a credit repair agency.”
For more information on this subject, click here to read the full article at LoanLove.com.