Portage-Kalamazoo Short Sale Info – Typically anyone who is trying to avoid a foreclosure and/or short sell their property has OR soon will have credit issues. People struggling with credit issues often get in touch with credit repair companies. There are a few questions that you should ask a credit repair company before you agree to work with them to help you improve your credit. The questions below are not intended to be all-encompassing, but they do provide a good start to the research that you should do before you commit to working with a credit repair company.
QUESTIONS TO ASK CREDIT REPAIR COMPANIES BEFORE YOU COMMIT TO USING THEM:
- Do you guarantee your service? (Note: The law seems to say that no credit repair service can guarantee a specific outcome for using their services. They also are not able to give you a timeframe in which your scores will go up. If they answer “Yes” to this question, that is a red flag which may cause you to stay away from them.)
- Is your service legal? (Note: In order for a credit repair company or attorney to practice credit repair, they must follow the Credit Repair Organization Act (CROA). To see if a company is in compliance with CROA, go to www.ftc.gov/os/statutes/croa/croa.htm)
- How do I know if your service is working?
- What types of credit reports will you use in updating my case? (Make sure they use the credit reports from the three credit reporting agencies.)
- Can I pay for your service in advance? (In order to comply with the Credit Repair Organization Act (CROA) firms can only charge for services rendered. If they answer “Yes” that is a red flag that should cause you to consider staying away from them.)
- Can I cancel your service whenever I want?
- Will I be able to speak to someone about my case?
- Do you have customer service assistants?
- Do you offer a “new credit identity” or perform “file segregation”? (Note: If they answer “yes” to either of these questions, you might want to consider staying away from them.)
If you have had challenges in this economy and need to repair your credit, start by cutting your expenses, try to renegotiate any outstanding bills and making sure that you pay all your bills on time. If you seek the help of a credit repair company, make sure they are a reputable company that operates within the law.
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The Veenstra Team specializes in helping homeowners STOP Foreclosure, and short sales in Kalamazoo Michigan and Portage MI.
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Your Kalamazoo Real Estate Experts and Home Team
David Veenstra, REALTOR
Jason Veenstra, REALTOR
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