You get fliers in the mail, email messages, and maybe even calls offering credit repair services. They all make the same claims: “Credit problems? No problem!”.
There is nothing that credit repair services can legally do for you, including removing inaccurate credit information, that you can't do for yourself for free.
Oct 28, 2013 ... But the credit repair services that have been around for a couple decades know the rules surrounding credit repair and know how to navigate ...
Steer clear of credit repair clinics -- you can repair your credit yourself. ... But you shouldn't have to pay for these services: These companies can legally do only ...
Aug 8, 2013 ... Generally, there are three steps to the service that these credit repair organizations offer: 1) The companies ask you to forward them copies of ...
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Anything on your report that's bringing down your credit score is going to stay on ... The company wants you to pay up front for credit repair service before they do ...
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Professional credit repair services have their benefits. Learn more about the benefits of using credit repair services by the industry leaders, Lexington Law.
29 Reviews of Speedy Credit Repair Inc "With all the different credit repair agencies ... I searched for credit repair services but I was very skeptical until I came ...
Impeccable Credit Services of Houston, Texas specializes in restoring your credit options and credit repair. Whether you want to lower your interest rates, qualify ...
Oct 8, 2001 ... You want to improve your credit score. Should you pay a credit repair service to help you or do it yourself?
Jul 16, 2014 ... Reviews of the best Credit Repair Services: Can credit repair companies get deletions from the three major credit bureaus? You bet they can!
For individuals that are coping with a bad credit score, hiring the services of a credit repair company may seem like an attractive option. With promises of raising credit score and removing negative information, it is understandable why many engage in credit repair services. But before purchasing a service, consumers should make sure that the service is reputable and reliable. There are a number of fraudulent credit repair services that take advantage of customers; therefore, individuals need to make sure that their rights are protected. To find out about consumer credit, the Consumer Credit Protection Act details the rights of the individual.
What to Watch Out For
There are a number of fraudulent credit repair services that seek to take advantage of individuals that are deep into debt. When looking for a credit repair company, one of the first steps that the consumer should take is to examine the services offered. In general, customers should watch out for companies that offer to completely eliminate negative points on a credit report. Individuals should recognize that no company can remove negative information from a credit report. Other companies may offer guarantees such as “increasing a credit score by X amount of points” or “lowering interest rates”. However, a company that makes these claims is engaging in unfair business practices, and should be avoided.
In addition, customers should also avoid credit repair services that make fraudulent claims. An indicator of a bad service is whether the company makes guarantees and promises that are too good to be true. Watch out for credit repair service companies that refuse to provide a contract or direct contact with a representative. Another tip for consumers relates to pricing; customers should never agree to pay for a service upfront until they obtain a contract or a written guarantee of the services provided. By watching out for the following signals, customers can protect themselves against companies that provide poor credit repair service.
Tips for Choosing a Credit Repair Service
The law requires that the credit repair service provides the customers with a written contract detailing the services provided, the costs, and the timeline for completion. Customers should make sure that they obtain this information before signing onto a contract. When finding a reputable credit repair service, individuals should watch for the following factors:
Experience and Longevity:
The amount of experience can be a good indicator of the reliability of a credit repair service. A good company has been in the business for a fair amount of years, in comparison to fraudulent, short-lived scammers. In addition, they have a good understanding of the different strategies that work for each case. Therefore, customers should look for a credit repair service that possesses a large client base and is relatively established.
One way to determine whether the credit repair service is credible is to check whether they are registered with the Better Businesses Bureau. Conducting a search through the BBB’s database can give you an idea of whether a credit repair service possesses a positive or negative reputation.
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