To be or not to be, that is the question. No, not really. To do it yourself or hire out for company credit repair, that is the true question. The correct answer is...drum roll please. There is no correct answer. What's correct depends on the person. If you're the type of person who can tend to details and stay focused, then you're the perfect candidate. On the other hand, if you think its too much for you to handle, then by all means hire out the process. If you are going to use a company for credit repair, here are some things to consider when doing your due diligence.
Check Better Business Bureau for any filed complaints
Contact you state attorney general for any filed complaints
Check with the Chamber of Commerce, but be aware that membership in the organization is based on fees being paid. This fact may or may not skew the information.
Consumers are now protected by the Credit Repair Organizations Act, which states that credit repair companies can't charge you fees until after they have completed the promised services. So, beware if you're asked to pay up front for services that have not be performed.
One method that you should be knowledgeable of is what is known as file segregation. This is the process of creating another file with in the credit bureaus as a means of circumventing your present bad credit file. You'll be instructed to apply for an employee identification number, which incidentally has the same amount of digits as you social security number. When you apply for credit using the EIN, the bureau returns a 'file not found' notice. When this occurs, a new file is created. This is fraud, a felony.
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