Although the responses might not be as bad as people’s opinions about bill collectors, if you randomly ask people what they think about credit repair some responses might be:

• I don’t understand how credit repair works
• I can do this myself for free
• I can write my own dispute letters for free
• I don’t have problems getting credit

I have heard these responses and moiré like them for over four decades. The only thing that has changed are the names and faces. To some people credit repair is viewed as a legitimate business, while others view it as people just trying to get money out of them. One reason why many people have such a negative view of the credit repair industry is some of the things that happened when the industry started establishing itself.

The biggest problem was that people that had very little knowledge of financial matters became credit repairers overnight. A lot of them were people that got tired of being bill collectors. They were basically letter writers. I personally knew at least ten people that were did this. When I asked them what they were doing besides writing dispute letters, they gave me some of the following responses.

• I got to do something to make a living
• Is there something else to do?
• If it doesn’t I don’t offer any guarantees
• I am only doing this to get some additional income

Even though many reputable credit repair companies have evolved in the last 10-20 years, there are still a lot of credit repairers that are just in the business due to the previous responses. People today that have been influenced by others that have had bad experiences with credit repairers are not open to hear about legitimate credit repair strategies. Well that is enough for today. I’d love to hear your thoughts about what I have said. We’ll go over part 2 next time. Enjoy.