Credit Repair Done by Yourself is Better Says the Federal Trade Commission (FTC)

These days, credit score repair and raising credit scores has become a hot topic around the water cooler. Knowing how much money can be saved by having a higher credit score and with the need in todays economy for keeping your credit score higher than average, many consumers are looking for a way to improve upon the score that they already have.

The Federal Trade Commission FTC, has recently reported that fixing your credit score by yourself may be the best option out there for most Americans. When Googling the word " credit repair" on any given day, you are bound to be overwhelmed at the number of advertisements that are displayed. Each of these " credit repair companies" has a different fee, process and technique for fixing your credit But they all seem to have one important thing in common: a high fee.

Due to all of the advertising and hype that is thrown in the consumers face, the average person does not realize that the credit laws were written to protect and help the consumer, not the credit bureaus. Even the Federal Trade Commission has stated that anything a credit repair company can do for a person, they can do by themselves. And think, you probably won't be charging yourself a fee. The credit repair companies seem to be preying upon the fact that the average person is not aware of how credit scoring or credit reports work. The credit repair agencies then make crazy promises and guarantees to help after charging your credit card of course. And how many people who are looking to fix their credit have an $1,000-$2,000 to throw out to hopefully fix their credit?

The average credit repair book or program for fix-it-yourself credit costs an average of $50-100. Thats a lot less than the thousands of dollars that the credit repair companies are trying to charge you with. It simply takes an education to repair your credit remove negative items and raise your credit score in a matter of only months.

It seems that only a few consumers out there, and of course the FTC, who wrote the laws on credit scoring, are the only ones who know how easy it is. It is too bad that credit scoring and credit reporting is not taught in schools or offered in colleges. With a little know how, an in-expensive book and the right letters, tools and techniques, anyone can raise their own credit score, and usually in a matter of only a few months. Get that better interest rate, obtain the home loan you need or get that small business loan you have been looking for. It is as easy as a simple as educating yourself and not letting the credit repair companies take advantage of you.