So thanks to Geezeo you’ve mastered your money. You’re the king (or queen) of cash flow. You’d like to show Congress how to budget, and think saving should be in the Olympics. There’s just one problem. Your credit still sucks. Should be an easy fix for a pro like you, but somehow you just never get started. Bad credit costs you money and the longer you wait to fix things the more money you lose. Don’t be afraid to consider hiring a credit repair service. I sat down with credit repair expert, Denise Manniello of Federal Credit Repair Service. I asked Denise about her services and what people should know about credit repair.

Is there a difference between credit restoration and credit repair?

Credit restoration is typically marketed to affluent clients, households with $200,000 or more in yearly income. While credit repair is marketed to those earning less. Other than semantics, there is no real difference between credit restoration and credit repair services.

What are some misconceptions about credit restoration?

That it’s a scam and doesn’t work.
Fraudulent companies have given the credit repair industry a bad reputation. The Fair Credit Reporting Act and the Credit Repair Organization Act has made fraud less common than it was 7 years ago. A reputable company will be working to remove negative items from your credit report daily. Our clients can log in to their files through our website anytime and check out their progress.

Credit restoration/repair has to be done by an attorney.
It’s more important to find a qualified service provider with credit industry experience. If that person happens to be an attorney, then great. Never assume that a being a lawyer automatically qualifies someone to fix your credit. In fact, attorneys are often not subject to the same stringent state laws as credit restoration firms. So consumers should be aware that they have more options available than just hiring a lawyer.

Credit repair companies can guarantee results.
No credit repair company can guarantee a specific outcome because they are not the reporting company. In other words, I cannot rewrite your credit report. Credit grantors report information to the bureau directly. Client results depend on the ability of each bureau to verify the items disputed. I can only call attention to negative items and push to get them resolved and reported correctly. It is illegal to guarantee certain kinds of results and these guarantees are usually a sign that you’re dealing with someone less than reputable.