Everyone has a different credit situation, so the answer to that question really depends on your credit scores, when you need credit and what your goals are.
There is a common misconception that all credit repair companies are an illegal scam. This is simply not true! Most Credit Services entities and companies have helped people restore their credit legally under the guidelines of the FTC. They offer legitimate services to ordinary people that require assistance in dealing with the inaccuracies on their credit report.
Hiring a credit repair company is much like:
Taking your car in for an oil change
Hiring a lawn care service
Hiring household help
Everyone has their own reasons for doing this. Some people may take their car to a mechanic for an oil change because they simply do not know how to perform an oil change, they don’t have the time or equipment to do it themselves or they simply prefer to leave their valuable car in the hands of a professional. However, there are some people that would have absolutely no problem changing the oil in their car.
Even if someone hires a credit repair company to work on their reports, a client still has to be responsible during the process. It is very important for the client to make a conscious effort to avoid adding new negative items to their reports.
Especially in these economic times, more patience is needed when repairing your credit. There is usually some setback to the process when a new late payment is added to the credit reports, but this can be overcome by using responsibility and patience.
There are many self help resources available online for those who wish to repair their own credit. Most of the available resources are fairly complete and can aid greatly in the process, however the specific laws regarding credit repair and the laws that the credit bureaus must follow are often difficult to comprehend, which is why most people tend to leave this to professionals.