I recently read an article suggesting that credit repair should only be conducted by a legal firm.
While I felt some of the points in this article had merit I feel effective credit repair services can be provided by people that are not solicitors.
While there are aspects of the credit repair process where it is preferable to have legal involvement I feel given a credit repair company is experienced and well versed in the relevant laws surrounding credit reporting they should be more than capable of delivering their clients a positive outcome.
While the most important aspects from a client’s perspective is receiving a positive outcome and having their credit file restored one cannot ignore the question of cost. Our company, Clean Credit has a legal firm that actually refers clients to us as they are simply unable to offer credit repair services to their clients at a cost effective level. I can quote from experience the process of credit repair can be difficult and time consuming, with most solicitors charging $300.00 + per hour it is not hard to see how costs could quickly run out of control for a client.
Given many people with credit issues are unable to secure credit due to a low credit score they are simply unable to come up with large sums of money to repair their credit files.
In the case of the removal of Court Actions such as Judgments or Writs it is preferable to have the relevant documents lodged by a solicitor, this however does not mean a credit repair company cannot prepare the necessary court documents and arrange for the plaintiff to execute these, this all helps keep the costs down for people and given the credit repair company has experience in this area I see no disadvantage for the consumer.
So we are able to service our clients in the right way and keep the costs involved with repairing a credit file to an absolute minimum Clean Credit does engage a legal firm to help our clients with court action removals.
Another point that needs to be covered is the production of supporting documents by credit providers, there is no doubt that some credit providers do resist supplying documents when requested to do so by a credit repair company. Having said this there are laws in place that cover the requirement of a credit provider to produce supporting documents when asked to do so by either the client the clients authorised agent. If a credit provider does continue to resist producing supporting documents I find Ombudsman involvement often resolves the situation.
The key to successful credit repair is knowledge and the ability to communicate. While there is law involved in the process there is no reason why a credit repair company cannot be highly versed in this field, in fact in some cases credit repair companies will know more about the laws surrounding credit reporting than some legal firms as this may not be their area of expertise.
The general public can rest assured that given they are dealing with a reputable credit repair company they will be well represented and have the opportunity of keeping costs to a minimum