Gaining access to loans and credit cards while avoiding higher interest rates requires having an excellent credit score. A credit repair agency can help improve it quickly by disputing errors with credit bureaus; this process increases your chance of loan approval while simultaneously decreasing debt payments.
Credit repair businesses must abide by federal laws designed to safeguard consumers against predatory practices, so it’s crucial that you conduct due diligence on any credit repair company before signing contracts with them. A great place to begin this research would be by visiting the Consumer Financial Protection Bureau website and reviewing any complaints against their services.
Credit repair is possible on your own, but the process requires significant time spent reviewing reports, reaching out to bureaus with any inaccurate data and following up on disputes. Credit repair companies offer time savings by targeting only problematic items on your report as well as negotiating with creditors to remove negative entries that don’t stand up.
Most credit repair agencies offer a 90-day money back guarantee; if any negative items on your report don’t disappear during that timeframe, they will return your money in full. Some providers even go the extra step and allow customers to cancel or pause membership at any time – an invaluable feature not available elsewhere.
Credit repair agencies cannot legally promise to raise your score by any certain number of points, though they can work with credit bureaus to dispute inaccurate information and usually get items removed from reports if sufficient proof exists that they’re untrue.
When choosing a credit repair company, search for one with an honest cancellation policy and 90-day money back guarantee. Furthermore, make sure they include other guarantees or perks in their service package; such as monitoring of any disputed items regularly updating you on their status.
If you are facing debt, an effective credit repair service will advise focusing on those debts which have been active within the last seven years, since their impact decreases after that timeframe. Furthermore, smaller debts that have less of an effect should also be settled for optimal results.
Be mindful that most credit repair agencies cannot remove hard inquiries, which include those made when applying for loans or credit cards. Some credit repair companies might help remove hard inquiries depending on their policies and type of inquiry it was.
