If you are looking to repair your credit report, you have two options.  You can either hire a credit repair company or repair your credit on your own.  There are advantages and disadvantages to each decision.

If you are trying to save money, you may consider repairing your own credit.  The problem with cheap credit repair services is that you get what you pay for!  Most of these firms are not able to offer quality service, because the reality is that it takes a lot of work to repair credit.  If you are paying a very low monthly fee, chances are not much work will be done on your file each month.

Another instance where it might make sense to work on your own credit is when you are looking for fast results.  Even the best credit repair companies are not financially motivated to give you fast results when you are paying on a monthly basis.  You, on the other hand, can devote as much time and effort as needed to repair your credit.

If you are short on time, however, it may make sense to hire a credit repair company.  After all, getting some results is far better than nothing!  Most credit repair companies prepare dispute letters on your behalf and send them to the credit bureaus.  If you are in school and working or working and have small children, you may simply not have the time to devote each week to working on credit repair.

Another instance when it makes sense to hire a credit repair company is when you do not have the desire to learn about credit repair.  Most people make mistakes when they attempt to repair their own credit unless they get a sufficient education about credit repair.  These mistakes can actually lower your credit score.  For this reason, getting a proper credit education is critical.