It can help in some instances of repressed trauma. But it is not the best way, as clients are too susceptible to suggestion rather than dealing with real memories of trauma.
The best time is when a trained psychotherapist recognizes repressed trauma. Without that guidance, it is dangerous.
Depending on what happened to you in the past. It can help us from the lesson you learned by the outcome the events had on you in the past, weather good or bad. For certain things that is. As in, we can’t change the past, but we can learn from it, and move forward. Keep the past in mind, as a look back tool of knowledge.
It’s fake. I suppose some people may get some benefit from a charlatan deceiving them into a false belief that they were once someone important or special (which would be exceedingly unlikely from a statical probability standpoint). Perhaps it might inspire them to do good things. i don’t think it’s worth money, and I dislike supporting con artists on principle.
Personally I think it’s a placebo. This first has to assume that reincarnation is real. Then you have to assume that it impacts your current life. I suppose if you believe in those things enough, you can believe yourself into healing.
Since you think you are a time lord, there is not much point in trying to convince you it is a sham. Here is a site that offers the service and lists some of the benefits. I would guess that it should cost about the same as psychological counseling, which is what it purports to be. Don’t expect it to be covered by medical insurance.