Can credit repair help?
Credit repair is not a magic pill that can instantly fix your credit score. Reputable credit repair companies must work within the rules set by the FTC to increase your credit score, and in some cases it is simply not possible. So when does it work? The most common cases when the credit repair works
If you have errors on your credit report: The first thing that credit repair companies seeking in your credit report are errors that can be fixed. Nearly 52 million people in this country have errors on their credit report, and 13 percent of people have incorrect credit ratings because of these errors. If you believe you have errors on your credit report, credit repair services can help you eliminate these errors to increase your score.
If any of your lenders went bankrupt or were bought: A little known fact about your credit report is that each item in your report should be checked or it must be took of. So if one of your lenders went bankrupt or were bought by a larger company, they may be unable to check the harmful marks on your credit report, which means these marks should be removed. credit repair services know this stuff and use it to help you increase your credit score.
If your lenders are willing to negotiate how they report your activity to the credit bureaus: One useful thing that credit repair companies are only working with your lenders to increase your credit score through good faith negotiations. If you paid your bills on time or have marks on your report that are miscommunications between lenders and credit bureaus, credit repair services can work with your lenders either correct communication errors or negotiate with them to eliminate certain harmful brands based on recent positive activity.
What to look for in a credit repair company
Not all credit repair companies are created equal, so how can you tell which ones are the most trustworthy? Here are some things to look for:
BBB Rating: If the BBB rates to an A- or above, it usually means they do not have many complaints against them, which means that customers are generally satisfied with the service they get from society.
Company History: Some credit repair companies have been around since the early 80s These companies not only know how to work in credit repair regulations, but they have experience working with lenders to increase your credit score.
Credit Monitoring: A credit repair rules is that companies are not allowed to pull your credit report for you; you must provide your own credit report. Some companies have deals with one credit bureau and can just pull the credit report, but if they promise to take your 3-bureau credit report, they do not follow the rules and it is best to stay away .
Price: The largest credit repair service does not require you $ bill dollars 100s per month to repair your credit, so do not be scammed by sites Web offers brighter or you don 't need. If you pay more than $ 100 / month for credit repair, you are ripped off.
Guarantee: Most major credit repair services have some sort of guarantee that will give you cash back if you are not satisfied with the services. Some do not guarantee they meet a certain amount of work, but others will give you a refund, no matter what the reason. Whatever the terms, make sure that the credit repair company has some sort of warranty, so you do not get scammed.
Best Credit Repair Companies
Lexington Law: The best part about Lexington Law is that they are a real law firm that specializes in credit repair, so that they know the rules surrounding credit repair. They also have a guarantee that they will complete all the work agreed prior to bill you for all services. Lexington Law plans start at $ 59 / month with an initial amount of $ 99 to start. Sign up for Lexington right here.
SkyBlue: This is one of the best credit repair services that we have seen. It is affordable; $ 49 / month and $ 49 as an initial fee, even if it does not come with the credit monitoring or other flashy features that other credit repair services offer. It also has a 90 day warranty cash back if you are dissatisfied in any way with their services, which is very rare for credit repair services. They also have an "A +" rating from the BBB. Register here SkyBlue.
The People credit: Credit People is one of the best payment plans we've seen, where you only need to pay a lump sum of $ 299 to repair your credit. The service usually lasts for about 6 months, so it's a good deal. The initial fee is only $ 19. They also have a full money back guarantee, plus give you a $ 50 bonus if they repair your credit within 6 months. Sign up for people to credit here.