The good news: We live in an age where you can pretty much do anything with the assistance of software.
The bad news: Software has only come so far in replacing the services of professionals.
You can purchase software for everything from filing your taxes to improving your credit score, but when it comes to the latter, it is best to entrust your precious credit standing to professionals. The main reason is that credit repair software will require you to do 99% of the work and unless you are a credit wiz, this kind of software will not benefit you much.
Here are the reasons why hiring a credit repair attorney is advisable overusing credit repair software.
Hiring A Professional Saves Time
Unless you know somehow that improving your credit will be as simple as sending a request for investigation to one of the three credit bureaus then repairing your loan can be a very time-consuming ordeal. In some cases, lawyers will even need to be involved in your case involves taking a creditor to task for false reporting.
When you hire a professional, you will need to be involved. For example, most companies have a consultation and what’s known as an intake session where they gather as much pertinent documentation from the client as they can. Apart from attending these sessions and finding and submitting these documents, though, you will not need to commit very much more time in this endeavor.
Here are success stories of people that hired The Phenix Group for their credit repair:
Most credit repair companies work every month in the background. All the client usually has to do is forward correspondences they receive from creditors or bureaus.
With software, the individual will need to pore through their own documents so that they can input critical information into the system, which is essentially a glorified spreadsheet. They will also need to read through all correspondence letters and reply to them directly – all very time-consuming activities.
Software Cannot Fight For You
First of all, no software no matter how advanced can interact with the credit bureaus or credit issuing entities so forget about disputing frivolous reports or getting things like liens and charge offs stricken form your credit report.
There are certain legal time limits that the bureaus have to process requests for investigation and disputes. A professional credit repair company will stay on top of these deadlines and keep track of the process as it develops.
They will make sure that the bureaus are doing what they need to do for your best interest and fight against the irritating bureaucracy on your behalf.
At best, credit repair software can update you as to the process of disputes, but you will be responsible for filing the conflicts in the first place and deciding what to make of these process reports.
A Sounder Investment
There is never any guarantee that you or anyone you hire will be able to improve your credit score, but at least when you hire a professional, there will be some sort of money-back guarantee if they can’t do anything for you.
When you “invest” in the credit repair software, there is no money-back guarantee. If you cannot improve your own credit score by using the software you are on the hook for however much you paid for it and for however long you subscribed to the service.
The higher-end credit software suites can cost up to $400 too. Most people’s credit can be improved by at least a little within 2 months, which sounds favorable when you consider that most professional credit services charge $30 to $100 a month.
A More Comprehensive Approach
At least at the time of this writing, the personal approach cannot be quantified. When you hire a credit repair company, you will have the option of working with a human professional to devise a financial plan that you can follow to better credit.
This includes an in-depth analysis of your current debts, finances, your financial goals, and in some cases, one-on-one financial coaching services.
No software can provide this thorough analysis and come up with a financial plan specifically suited to your situation. In fact, most credit repair software simply offers dispute letter templates that you can fill out and send to creditors.
If you opt for the more expensive software packages, you might be given access to a real live credit expert who can walk you through the process, but at that point, you will be spending as much as you would if you hired an expert only without all the additional services.
They Put the Law on Your Side
Fixing credit is not always just a matter of getting negative marks off your record. Sometimes collection agencies have lawyers, and they will not yield to the average citizen that their actions are unlawful or that their grounds for collection are false.
Software does not know the law, and they cannot talk to these collection agency lawyers to show them that a mistake has been made or that their actions are illegal. But a high-caliber credit repair professional will know the law and put it to work for you.
There are also specific laws that have been enacted such as the Fair Credit Billing Act, the Fair Credit Reporting Act, and the Fair Debt Collections Practices Act to protect consumers and can be leveraged for the benefit of your credit.
There are only specific ways a collection agency can go about trying to collect a debt under the FDCPA, and when they violate this act, a professional can leverage the violation as a way to dissolve the deficit for the client.
Simply put, no software can do this for you. In the end, hiring credit repair professionals can save you time, money, and make sure that you have a sustainable way to good credit in the future.