Should you use the best credit repair companies in the UK or sort out yourself?

For some people, their credit rating can give them a lifeline when times turn bad. Others who haven’t been so careful to maintain a good credit rating, will need work to improve their status with credit reference agencies if they need to borrow money. But do you need to find out who the best credit repair companies in the UK are or can you sort out the mess yourself?

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Credit repair firms

If your financial position is very poor, you may need to pay for advice. Using a firm like Credit Hospital (thecredithospital.co.uk) or Turner Little (turnerlittle.com) will allow you to instantly relax about your situation because you’ll be putting yourself into the hands of experts, but you’ll have a fee to pay.

Cleaning up your history

At the moment there are lots of firms who claim they can clean up your credit history. They can’t. There’s no magic fix to a poor credit rating because your status with credit reference agencies is determined by years of financial transactions. These firms also charge for providing advice that will help you gradually turn your poor rating into a decent one. Thanks to government initiative, you don’t need to pay for this sort of advice.

Where to look for free credit repair advice

There are two hotlines where you can get advice on your debt situation. The most well-known is StepChange Debt Charity. Their contact details can be found at stepchange.org. The other people to talk to about improving your credit rating are National Debtline. This is a government funding association whose website nationaldebtline.org is full of useful advice, as well as a contact number if you’d like to talk through your financial situation.

Final word

You’re better off repairing the damage to your credit rating yourself using the free advice available to you through various government backed schemes, but if you’re interested in sorting out your company’s credit rating, a reputable credit repair firm is going to be your best option for a quick turnaround.

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