An adverse credit report can restrict your ability to gain access to mortgages, loans and credit cards as well as increase interest rates or necessitate higher deposits on lease agreements and insurance premiums. Although there are options for improving or rebuilding your credit profile, finding the appropriate company to work with can be daunting; that’s why we at GOBankingRates have done all of the hard work in researching and vetting multiple firms to find you the most qualified credit repair experts.
Before selecting a credit repair agency, be sure to research its reputation with the Better Business Bureau and industry associations. Furthermore, inquire into its setup and monthly charges; some credit repair agencies charge monthly while others may impose one-time or first work fees.
Legitimate credit repair services assist their customers by identifying errors on their reports, interviewing them and writing letters to credit bureaus to request correction of said inaccuracies. Some top-rated repair companies also provide free consultation and analysis to determine what can be done to increase a consumer’s credit score.
While hiring a quality credit repair service will certainly help improve your score, it’s important to realize that the process may take several months, depending on the severity of your situation. Furthermore, if old habits return–for instance repeatedly taking out credit you cannot afford–then your score could drop again.
Whenever choosing a credit repair service, beware of companies making exaggerated claims. Companies promising quick fixes or removal of bankruptcies from your report could be scams that waste both your money and cause further harm to your credit profile – not only could these wasteful practices damage your finances further but they could put you in legal danger too!
Consider whether the credit repair agency in which you’re considering is in compliance with the Credit Repair Organizations Act. This law mandates that credit repair firms adhere to specific standards such as no upfront fees and offering consumers the option to cancel service at any time.
Lexington Law has been offering credit repair services for more than 25 years and specialize in helping individuals navigate bankruptcy, foreclosure and repossession proceedings. Their fees are reasonable and include free consultation services as well as 24/7 client support and a money-back guarantee. Credit Repair Association and has an A+ Better Business Bureau rating. They also offer a pause option that enables subscribers to skip an installment without cancelling, potentially saving start-up costs and preventing overpayment. Sky Blue Credit is a go-to choice among credit repair specialists due to its low startup fee, flexible cancellation policy and reasonable monthly costs. They also offer detailed credit reports at $79 per month as well as challenge letters that help dispute inaccurate information on reports.
