Thriving Single Moms

Is it worth going to a credit repair company?

If you are considering a credit repair agency or company, you are probably very stressed out from the financial challenges you have been through and you just want out.

Being in this situation causes us to make decisions quickly so we can get relief from the financial stress we are enduring.

For the 7 years I worked as a Personal Banker, I honestly never heard of a good story come out of a credit repair agency. Most customers were shocked that they didn’t get what they were promised.

Here’s How Credit Repair Company’s work

Here’s the deal. A credit repair company is going to have you pay them upfront fees to delete information from your credit report. This violates the FCRA (Fair Credit Reporting Agency) accuracy requirement. Now, I am sure you don’t care about the FCRA! You just want to fix the situation you are in. I totally understand! But let’s go a little deeper.

Promises, promises….

They typically promise you a better credit score by making changes to your credit report. They promise they will fix it.

Now, you are probably thinking if you can pay to get out of this stressful financial situation, you are all in! It sounds great and is already relieving the financial stress from neck, back & shoulders.

You are thinking you can be relieved from the pit in your stomach, sleepless nights, and frustration that has built up over time.

When negative information is deleted, it’s like it was never there. Can that help your credit score?

This is not building credit. Yes, it’s removing some late payments or collection accounts. The older these accounts get, the less they hurt your credit score.

Misrepresent myself? Wait, What???

Sometimes credit repair agencies will ask you to misrepresent yourself to the credit bureaus by falsely claiming ID theft which is fraud with legal implications.

Other times they tell you to just dispute all the information – which is fraud also.

If there’s one thing you can take away from this it is: that there is no recourse to get your money back from credit repair agencies. If you didn’t get a better credit score, your score is worse or they were unable to fulfill their promise, there is no recourse.

Always remember, if they tell you to stop making payments, this is going to have a negative effect on your credit report.

What works the best?

I highly recommend building credit and making a plan to reduce to get out of debt.

I am living proof that you can get out of debt as a single mom making near poverty wages!

The best way to build credit is to use it. Yes, use it regularly. The way I teach it is to put one thing on your credit card each month (if you can afford it) for about $5.00. This can be a membership to Netflix or buying a loaf of bread. Then when the statement is due, pay it in full.

If you don’t use credit, you are not building credit.

Learn More!

I hope you found this information helpful!

Any recommendations I make should be taken into consideration with your values and goals. You should make the best decision that aligns with your family’s values.

As a Financial Coach, my mission is to help families save more, spend less so they can buy and do the things most important to them and spend their time and energy focusing on their kids.

Spending quality time with your kids is more important than stressing about finances. Instead of going to friends and family and sharing your financial struggles, reach out to me. I love talking about money, values, assessments and strategies to make positive changes to your financial habits to live a life you love.

Stressed About Finances?

I understand because I’ve been through some really challenging financial situations. Learn more about me.

I’m a kind, heart-centered coach who is excited to help you! If you’re struggling with your finances, get the results you want – I promise to keep you accountable and help you manage your finances successfully . I have a 100% guaranteed or your money back for the 1st session!

Finally, I wish you success in your financial journey😊

Join the private Facebook community to get tips, tricks & hacks to save more, spend less & build excellent credit

Follow me on YouTube to get tips, tools and helpful resources to CRUSH your financial goals!

1:1 Coaching:

Get personalized coaching focused on you

Renee Hugger

Renee Hugger, AFC (Accredited Financial Counselor) I help highly sensitive women find emotional freedom in a natural way by learning the simple process to live in a peaceful state of mind with her thoughts, feelings and emotions so she can experience personal growth even if she feels despair or like nothing will change.

Recent Posts

Find Peace and Freedom: How Forgiveness Transforms Your Life

If you have experienced unhealthy relationships and have feelings of bitterness, resentment or anger towards…

9 months ago

Struggling to sleep? How to quiet your mind for a peaceful nights rest

When you're a busy mom sleep is so important for your emotional, mental and physical…

9 months ago

How to recover mentally from a toxic relationship; the calm after the storm

In the aftermath of a toxic relationship, the world can feel like total chaos. For…

9 months ago

What to do when you’re feeling down after enduring toxic relationships

Here is a video I created that talks about a few different things I do…

9 months ago

How to Feel Loved without someone special on Valentines Day

Here's a video I created where I share how difficult Valentine's Day was for me…

9 months ago

How to deal with mean text messages from toxic people

Have you ever felt nervous, anxious or frustrated about receiving text messages from an ex…

9 months ago

This website uses cookies.