Who Are Safe Credit Repair Companies?
Best Answer: Credit repair can be a stressful process. Therefore most people find it convenient to let a credit repair company do all the hustles for them. The only problem is that some of them use shortcuts to thrive in the industry and hence finding a safe one becomes a headache. The following tips will act as a guide in identifying genuine credit repair companies;
• A safe credit repair company must produce a copy of Consumer Credit File Rights before you sign any contract. They should also not commence any work before you have read and understood the terms of the contract and signed. After signing a contract, they must wait for three days.Legitimate companies for credit repair will not ask for any payment before doing their job. They should only make and charge for genuine claims.
• Safe credit repair companies are considerate to their customers. They will charge a logical fee and will not look for ways and means to exploit their clients.
• The companies should study keenly all your credit reports and pinpoint all errors involved. They should also give credit agencies enough time to produce a detailed documentation. This should eliminate any cases of negative reports being restored to your report in future.
• A safe credit company should advise you on your rights and be transparent on what they can do and what you can do for yourself. You should also be allowed a direct contact with a credit reporting company.
• Safe credit repair companies should not advise you on unlawful ways of evading your loan payment or advise you on committing fraud by disputing accurate information.
• Any credible company should not attempt selling you a fake service. In fact they should provide the description of their services and fees in writing.
It’s important to find a responsible, safe credit repair company. Here are a few:
DSI Solutions
Benefits include:
• 10 years of experience
• They will save you a major step in the process by getting your credit report for you
• DSI will dispute all credit report items according to federal laws and federal regulations
• They will repair credit items as they appear and continue to dispute those that aren’t removed
• One-time payment of $267
• Payment may be broken down into 3 monthly payments of $89 plus the initial set-up fee of $19
MyCreditGroup.com
Benefits include:
• They offer one-on-one personal coaching
• 24/7 account access
• Unlimited disputes with credit bureaus, collection agencies and creditors
• Assistance in establishing new lines of credit
• Settlement of any outstanding debts, even negotiation for any Pay for Deletion options
• A full refund if not satisfied
• Bonded, licensed and registered with the Attorney General
• Better Business Bureau member with a top A+ rating
• Nominated in 2007 for Best Customer Award
• Certified with the Fair Credit Reporting Act
• Often employed by the US Dept of Defense for cases
• $99 after work fee, then $69 per month
Sky Blue
Benefits include:
• 20 years of experience
• Specialize in credit disputes that do not meet legal standards
• Rated A+ with the Better Business Bureau
• Discount provided for spouse’s enrollment when you sign up
• Unlimited disputes automatically initiated by Blue Sky when/if disputable items appear
• Unlimited collection and creditor interventions
• $49 per month after initial $49 set-up fee
• Full refund if not satisfied
Lexington Law
Benefits include:
• 20 years of experience
• Bonded, licensed and registered with Attorney General
• Rated A+ with Better Business Bureau with no unresolved issues
• 22 attorneys in 16 states
• Consumer advocacy agents
• More than 500,000 clients have been served
• Millions of disputes resulting in credit claim removals
• $50 discount for spouses jointly signing up
• As low as $59.95 per month after initial $99.95 set-up fee
Your good credit is an extremely valuable asset. If you’re in need of credit repair, prompt action is necessary to recover that good credit rating before it gets worse over time. These credit repair services have been highly rated. They have shown to provide the type of service necessary for efficient removal of bad credit and continued vigilance.
Was this answer helpful?
LikeDislikeSafe credit repair companies are usually non-profit organizations established to help people reduce their debt and gradually improve their credit scores. Bankruptcy laws require people to get credit counseling before they file for bankruptcy. Companies that are approved to provide these services to potential bankruptcy filers have met government standards for credit counseling services. Even these companies can have unsafe credit repair programs. Here are a few warning signals for people seeking help in repairing their credit scores.
Excessive Fees raise warning flags. These are non-profit companies, they should not charge high fees. If their goal is to help people improve their credit rating, excessive fees will hinder that.
Upfront fees are a sure sign of an unsafe credit repair company. Credit counseling services are supposed to help their clients reduce their debt burden, not compound them. If a company wants fees before any services are provided, skip them and move to the next company.
Promises to remove bad credit reports are another warning flag. These companies usually just dispute every bad item on a credit score which will not remove the item unless it is proven to be inaccurate. Accurate credit reports cannot be removed. Credit reports can only be improved over time by repaying debts on a regular basis and reducing the debt to manageable levels.
Companies that recommend applying for an employer ID number (EIN) from the IRS should be avoided. These companies are advocating setting up a new identity with this EIN. This is a bad idea for two reasons. The EIN is linked to the owner’s social security number so the new identity scheme will not work. It is also illegal. EINs have a legal purpose. They allow business owners to operate business checking and credit accounts separate from their personal accounts. They do not create a new identity for the owner.
Follow these guidelines and choose a safe credit repair and counseling service. Just remember that no one gets into credit trouble overnight, so getting rid of a debt burden will take time as well.
Was this answer helpful?
LikeDislike