What can individuals do that credit repair companies can also do?

Individuals can request credit report corrections, just like credit repair companies can. This process is essential for consumers because credit reports may contain errors that negatively affect credit scores. Individuals have the right to review their credit reports, identify inaccuracies, and dispute any incorrect information directly with the credit reporting agencies.

Credit repair companies typically offer to handle disputes on behalf of consumers, but this is a service that individuals can manage themselves without the need for a third-party service. For instance, if a person notices a late payment listed incorrectly on their report, they can file a dispute online or by mail, providing evidence to support their claim.

On the other hand, negotiating credit card debt is typically a service offered by debt counseling or negotiation firms rather than individual consumers working independently. Investing in high-return assets is a financial strategy that individuals can pursue but is not a service that credit repair companies provide. Similarly, applying for loans on behalf of others is generally restricted to licensed professionals or individuals with authorization; it is not something credit repair companies do and usually requires a power of attorney or other legal documentation.