Best Credit Repair Companies Reviewed January 2019
The effect of credit on many aspects of our lives is so huge that it can hardly be exaggerated.
Having good credit score is very important as it is often used as the deciding factor when it comes to receiving loans, getting jobs, getting a house and so on. Since credit is clearly very important, it is necessary that you pay a lot of attention to it.
Repairing your credit can be a very tough process and often times you might get frustrated trying to get it done on your own. There are professionals who are trained to do this on your behalf, therefore, it is important to leverage their knowledge to improve your credit score.
Below are 3 advantages of using a credit repair services:
- They work directly with creditors to resolve all your issues. The company is being paid to be your ‘voice’ and resolve your credit issues.
- It takes a whole lot of time and stress to repair your credit score. By hiring professionals to handle it, you will save a lot of time that can be used for other activities.
- Professionals have the resources to deal with all aspects of the credit repair process. They are well-equipped with in-depth knowledge of how credit works and this is really important when it comes to credit repair process.
Top 5 Services
There are countless credit repair agencies around today and it can seem like a daunting task for you to select one company. Also, there is no assurance that you are selecting the best company because most of them have awesome marketing strategies. To prevent the occurrence of you being swayed by a fancy advertisement, we would highlight top 5 best credit repair companies.
1. Lexington Law
When the name is mentioned, there is a lot of positive vibes you would surely notice amongst people who are familiar with the credit card industry, this is for good measure.is a company that renders its service at a national level; it concentrates its focus on assisting its clients to look into issues of negative or bad credit issues with agencies.
It allows you full access into knowing the ongoing with your credit-score allowing you to be able to conjecture the relevance of the information to your life planning. Its services include articles, videos, courses, mail, as well as eBooks that allow the customer to have a high number of educational facilities. It also has a legal system that does a biweekly update on credit score. One of the major points to its credit includes the monthly fee charged, considering the kind of service they render, known to be on the affordable side.
The service guarantees a portal access to dispute history as well as progress, giving you a considerable measure of autonomy on your credit score as well as tracking accessories. There is also a smartphone app with which you can conveniently do this.
When you consider the cost of service rendered, perhaps CreditRepair might just be on the top of that list, and for good reasons too, of course, they would not want to offer services that do not match the cost tag placed on the services involved, it is for this reason that CreditRepair justifiably ranks among one of the best providers of the repair services.
Its information unit includes videos that are placed there for the specific reason of getting you educated about the nature of your score, it also possesses a site that is seen to be totally customer friendly, enabling you to have a full access to your credit details as they promised you in the charge fee.
Unlike the others like Lexington Law,offers an educational facility that allows you to be informed about investing as well as money management. As part of their service, you are rendered in the hands of an able paralegal. Who handles your questions with professional proficiency as well as guaranteeing you a familiar face to relate with, besides the paralegal service however, there is also access to a service-queue that allows you to get connected to a customer service agent.
3. The Credit People
Like the Lexington Law, the Credit People is also one of the cheapest services in the credit repair market out there, especially over a period of 6 months. This allows it to be able to sufficiently cater for clients who although require credit repair agencies have a considerably tight or low budget to dispense. Especially when it is an occasion that includes many negative issues, which may have a deteriorating effect on your credit score, it is during instances like this that the Credit People is the wisest investment to consider.
Its services are considered to be quality, which enables it to rank really high among other credit repair companies. There are a lot of pdf documents with which they use to educate you as a customer on their services. These pdf documents are popular for being designed to suit your level of understanding, which allows it to totally make up for not being able to provide video or portal services like the Lexington Law or the CreditRepair. There is a scale of disputable items that allows for a review and quality service.
4. Ovation Credit Services
Known for the meager fees they charge, “Ovation Credit services” provides the low-monthly charge for credit repair. And this is usually as a result of its provision of an array of dual-choice for clients, the Essential Plan as well as Essential Plus is the two services that the Ovation Credit offers. They are known to have been around for a long period of time, and this enables you to generate a considerable level of trust in them and their service of correcting credit scores.
Over the years, it is a reputed company that although may not be as informative of its service or as educational as any of the previous two considered, does have a great and quality level of service it renders. It offers an in-depth section of FAQs that familiarize you with the various kinds of negativities on the credit-report and how to fix them.
It also has a blog that involves in a weekly publishing of articles, which is more than can be said for any of the previous companies considered. Signing up also implies an advisor to be dedicated to ensuring you are rendered quality service allowing you to build trust in them.
5. Pyramid Credit Repair Services
The most popular feature of the Pyramid is the fact that they do not change anything on initial sign-up. Unlike other companies that have a specific charge upon signing up, this company offers nothing of such. They offer just one kind of service, upon signing up, you are guaranteed an account manager for the specific purpose of managing your personal account alone.
Its services of course naturally include an offering of the basic rudimentary kinds of credit repair services, and this places emphasis as well on correction of mistakes on the credit report, as well as trying to devise means by which your credit score may just be resuscitated. They offer attorney service that is seen to be a standard feature since the legal help that you are used to is nothing but a paralegal service, apart from the Lexington Law.
It has a 90-day money return guarantee of 100% that ensures that the services do not just take care of your needs, but that you are adequately satisfied with their quality. All these considered to be worthy points in its favor, given that it has only been around a few years.
With the above details provided, it is important that to have a very healthy credit profile, it is important to not just know what to do, but also which companies are best known to help you do it. This ensures that there is no injury to your credit history, and talks of a credit repair do not constantly come up. There should also be particular attention on the kinds of companies that offer better legal as well as financial services in the field.
How to find the professional credit repair company?
It is rare to find a person without some form of debt or another. Debts can come in form of student loans, car payments, mortgages and so on. In order to eliminate the negatives from your credit scores, you would need to choose the right credit company that can help you.
Below are some factors that you should consider in choosing the best company to handle your credit score:
- Longevity: Longevity is a very important factor when it comes to selecting a credit repair agency. It is always better for you to go for companies with years of experience because this will go on to show that the company knows what they are doing. Ensure that the company you intend to choose has had at least 2-3 years of experience.
- Ratings: The ratings will tell you more about the reputation of the company than mere words would. You can check the Better Business bureau rating to check the ratings and make your choice based on proven track record.
- Guarantee: Before you decide on your choice of a credit repair company, you should endeavor to check if they have a guarantee. The good agency offers you a guarantee for success.
- Fees: This is one of the foremost things to be considered in your search. Ensure that the fees are affordable before deciding to pay for their services.
- Customer review: Before employing the services of a credit repair company, you have to check to see what their previous customers are saying about them. This is a very practical and objective assessment of the company and it can highly influence your decision.
These are some of the most important factors for you to consider.
Are These Companies Legal?
Often times, the idea of being able to fix your poor credit sounds so good to be true. So good, that some people assume that the operations of credit repair companies are not legally recognized by the law. It is a lack of understanding of the activities of the Credit Repair Services that would make anyone assume that.
Credit companies have various strategies that they use to dispute items found on your credit reports that are not true. Unfortunately, there are a lot of scammers out there and it is safe to go for the credible companies.
The fair credit reporting act (a federal legislation that was enacted in 1970) shows rules that guide the practice of credit repair. This means that credit repair, as well as companies that do it, are perfectly in line with the law.
How does credit repair work?
It is becoming increasingly important to understand how credit works; it is difficult to navigate the society today without the knowledge of it.
When you repair your credit score, you are simply working to improve the information on your credit report. There are other factors that can also help your credit report; a good example of this is by paying your bills on time. It is very important to ensure that you are debt free and the best way to do this is by being careful with the things that we buy.
CPCs ask you questions that will help them understand why your credit report is negative (which simply means that you are in debt). The company will employ both human and material resources to convince your creditors and bureaus to take away the negative report on your credit. You can decide to do your credit repair by yourself and (if you are patient enough) get it done. Although, it is better to allow experts to do it on your behalf because that would save you a lot of time and effort.
What does a credit repair company do?
It is common for people to ask about the activities of a credit repair company. The likelihood of this question is further increased by the fact that individuals can do the same things by themselves. The fact is that we pay people to be experts at certain things because they can do it more efficiently. Credit repair is one of those aspects where it makes sense for you to employ the services of an expert.
The next question would be, “what does a credit repair agency do?“.
- They look through your credit score from month to month. They can also offer you professional advice concerning your spending.
- They also help you communicate with your credit bureaus by sending letters to the credit bureau office on your behalf. They are also in charge of following up on the subsequent actions at the bureau. Credit repair companies act as middlemen in the relationship between you and your creditors.
- The credit repair professional is also supposed to ensure that the credit score is increased. It is easier for them to get this done because they are more familiar with the bureaus office and this means that they can negotiate better terms for you.
There are certain people that are not thrilled with the idea of having a company doing things for you. This might be due to certain restraints in terms of finance or understanding; financial restraint being the more common reason.
Can you repair your credit score by yourself?
Now, think about your car and how often you try to do things by yourself, in order to properly fix the issues that your car might have you will need to understand how the various parts work. If you can gain the technical knowledge then you can fix your car by yourself.
In the case of credit repair, you are more likely to succeed in bettering your credit report when you employ the services of an expert.
It is easier for legal experts who are professionals in that field to get the job done. They are respected and more likely to get the necessary results. Also, the emotional distress that can arise from doing your credit repair by yourself can have negative effects on your health. The expert with a look at the situation with perspective and handle it like a professional. Money problems can cause a lot of emotional distress for you, therefore, it is important to get experts to clean your credit reports and prevent you from getting any further negative reports for your credit.
It easier for an expert to stay focused on getting the job done because it can take months or sometimes years to get your credit fixed. There are several advantages that come with having a good credit score and it is more advisable to allow experts handle it on your behalf.
How much does credit repair cost?
When it comes to the pricing of these services, it varies due to certain reasons that include the services that you need, the company and so on. Although, for most of the best credit repair services the pricing is around the same range for standard services. Companies offer extra services to customers that cause the price to increase depending on the extent that the service is offered. Below is a rough estimate of what it costs:
- Dispute software costs between $30 and $400.
- Concierge repair series can cost between $20—$100 to setup and charge about the same range of price monthly.
- The monthly cost for most cost repair services is mostly less than $100 (although, few companies charge more than that). For examples, LexingtonLaw (one of the forerunners when it comes to credit repair) charges $99.95/month. Another leader in the credit repair sphere, CreditRepaircom, charges the same amount.
There are a number of discounts that serve as incentives for you, an example is the couples discount that a lot of companies offer. The way this discount works is that while one person pays in full, the other is allowed to pay half the sum.
Also, credit repair companies always charge an initial fee and it is mostly less than $100.
How long does it take to clear a bad credit history?
The time taken to repair your credit can vary based on different factors – from how bad your report is to what your goal is. If, for instance, you have a bad or poor credit ranking, it can take over a year before you can get your credit report to the level of good or fair.
You may wonder how long it takes to clear a bad credit history; as a matter of fact, it is dependent on the effort you are willing to put into the process. You might have to embrace frugal habits that will enable you to make some economic cutback and this will help your credit repair immensely. Another way is to use cash more than you use your credit card; cash tends to help you curtail some unnecessary spending.
It is possible to fix your bad credit (if you don’t have major credit problems) in 30 days. And if you have major problems, you can achieve a milestone in the clearing of your bad history. You need to understand how the scores are determined; by knowing this, you would know the right things that you should be doing and those that you shouldn’t.
Why you need to have a good FICO score?
There was a certain Mr. A that lived with his wife and the e beautiful children. A career man, he always wanted to get to the top of the career ladder, he was an engineer and he had just gotten an email for an interview in another city. He got up on the third day of the next week and he took the first flight out of town for the interview which was to happen the next day.
…After two weeks, he got a call that although, he was the best candidate for the job, he couldn’t get it because he had a very bad credit score and he was debt ridden.
In this example, Mr. ‘A’ lost the job because of his bad credit score. This is why it is very important that you keep a positive credit score because not only will it make things easier, it will also help you save money from time to time.
Let us look at some benefits of having good credit score:
- With a good credit score, you can start your business that you have always dreamt of. You can get access to several loans that can serve as capital for you to do whatever you want to do. Bad credit can hinder you from getting access to the financial backing to begin your business.
- As seen in the above example, a good credit score can be the difference between getting the job of your dreams and not getting it. Your credit score says everything about your economic capabilities and how responsible you are as a spender.
- By keeping a good credit can help you save money in certain aspects. You can save money on insurance, interest rates and so on. Whether you believe it or not, your credit score affects your insurance premiums.
There are several other benefits that will convince you that it is best to maintain a good credit repair record.
Questions & Answers
You need to provide your personal details to the company and often times these details change. For example, if Mr. A had gotten that job, he would have moved and he would need to change his details with the authorities. The information that you present can affect whether or not would get a loan. It is important that you cross-check to confirm that the details are accurate from time to time. This can help you guard against identity theft.
This act is more like a statute and it was signed into law by President Bill Clinton in September 1996. The Act is meant to prevent credit repair companies from engaging in certain practices (like fraud and misrepresentation) that seemed to be handing them an unfair advantage. This advantage is a disadvantage for the customers who are faced by financial hardships. The customer with limited economic means tend to suffer the most and this is why this act was enacted.
A charge off is simply the case where a person fails to make payment for their credit cards for about 6 months in a row. To remove the charge off you would have to talk to the original creditor , this is one thing that the company will help you with. If you go several months without paying the debts that you owe the creditor would eventually write it off as a loss and then cancel your account. At this point, you are supposed to pay your balance in full.
After this happens, your credit score would have suffered a significant amount of damage. Credit companies can repair your credit and then go further to negotiate the removal of a charge-off from your records.
Normally, your credit report does not include the fact that you have been evicted from your residence. Instead, it includes a collection account where your unpaid rents and lease go to. Credit repair is not enough when it comes to removing a previous eviction. An eviction record is very bad because it makes you less likely to get another accommodation.
You will need to pay a nominal fee (it varies from time to time) and you would have all previous evictions removed from your history. Your credit repair firm can help you go about this process.
Yes, as part of an added package most credit repair companies will help you in removing inquiries that you wish to dispute. Mortgage and Auto finance inquiries both get special treatment by the scoring models and can barely after your score. You can have as many mortgage or Automobile inquiries and they would be counted as a single inquiry through a period of 45 days.
I think inquiries are the least important items that you should worry about because of the little effect that they have on your credit score.