Pros and Cons of a Credit Repair Kit

 

Damaged credit is a reality for over 40 million people living in the United States today. Most of them have no idea on where to begin in fixing their damaged credit.

 

Credit repair kits target this huge group of people by providing them resources to use in repairing their damaged credit. These repair kits could be books, e-books like this one, or systems that are being sold for a few dollars.

 

Before you buy any of the hundreds of credit repair kits that are out there in the market, let us first try to take a look at what credit repair kits can offer you.

 

Pros of a credit repair kit.

 

1. One stop resource center. Credit repair kits contain resources like sample letters, analysis tools, Fair Credit Reporting Act (FCRA) documentation, analogies and step by step instruction on how to go about repairing your credit report.

 

2. A teaching aid. Features such as how to prepare a budget, establish new credit, obtain credit reports, and set goals are common in credit repair kits. They also contain examples, worksheets and tests for you to evaluate what you have learned.

 

3. They are convenient to use. You can use indexes, menus, graphical interfaces and search engines to get the information you need. With just a mouse click or two, you could have a template for a letter you need to write to the credit bureaus. Just fill in the blanks and your letter could be mailed right away.

 

4. Credit repair kits are relatively cheap, compared to the alternative. Having professional legal advice or professional accounting advice means paying professional fees that could total hundreds of dollars. A credit repair kit also saves you time and money by providing you contacts of credit bureaus and other informational sources.

 

5. They typically come with a 30 day money back guarantee. You can evaluate and go through the entire kit to determine if you are satisfied with what it offers. If you are not satisfied with the features of the credit repair kit, you can have your money refunded.

 

These are a few things credit repair kits may not be able to do for you

 

1. It can not give you a direct and complete assessment of your situation. They do propose solutions to the most common problems encountered when repairing credit. Your situation may require you to take actions that are not part of the credit repair kit's suggested solution.

 

2. Information features and guides are generic. Credit repair kits often generalize the information they contain and add lots and lots of features to attract a larger customer base. For some, the information may be useful but some may just find it frivolous. Features available in credit repair kits could be very helpful for some but some find it very distracting.