When you apply for a car loan or mortgage, apply for a credit card or look to purchase an insurance policy, one of the common screening methods that’s used in all these cases is the credit score check.
If your credit score is below 560 then it’s considered to be poor and either you will be denied the mortgage, credit card and insurance or you will be charged exorbitant interest rates.
Credit repair companies like CreditRepair.com can help you file disputes and remove any incorrect strikes on your credit report and thereby improve your credit score.
The fault can lie with the creditor/lender or with the credit bureaus (Experian, Equifax and TransUnion). Credit repair companies identify the questionable items in your credit report and then either guide you in following up with the faulty party or do it on your behalf.
How CreditRepair.com Works
First you need to sign up on CreditRepair.com, following which your credit reports are accessed from all three credit bureaus mentioned earlier.
After thoroughly going through the reports you and the experts at Credit Repair need to ascertain which items have either been inaccurately added or haven’t been adequately substantiated.
Once, these items are identified, Credit Repair will be able to advise you regarding how to proceed and draw out strategies to tackle each questionable item.
CreditRepair can handle the interactions on your behalf. Once the issue is resolved with the creditors, the company will get in touch with the credit bureaus to ensure your credit report is updated at the earliest.
You can keep a track of the progress with regards to each item that has been disputed via the CreditRepair online dashboard. They also have a mobile app.
The company also offers services such as credit score tracker and analysis of your credit history to ensure you don’t repeat the mistake in the future. As part of the package you will also get credit monitoring service via TransUnion.
Types of Credit Problems
They handle all the common problems that affect credit score.
- Charge Offs: This is the way credit companies and collection agencies inform that they have written off the debt associated with a particular account. If a charge off appears in your credit report before 180 days since last payment, then you can dispute it and get it removed. If you did miss payments for over six months, then you can still speak to the creditors via the credit repair company representatives and try and work out a settlement and consequently removal of the charge off from your credit report.
- Tax Liens: New rules have come into effect in regards to tax liens and credit bureaus have been mandated to remove all tax lien entries from credit reports. So, CreditRepair will be able to take care of this if any tax lien items appear in your credit report.
- Late Payments: Often late payment strikes are incorrectly added because the creditor failed to update their records to reflect the change in home address or phone number. Or it’s possible you were going through a difficult phase financially and failed make a few payments. Let the credit repair company deal with this and either dispute inaccurate items or arrange a ‘goodwill adjustment’.
However, besides this CreditRepair focuses on the overall improvement of credit history.
So, even if there are no inaccuracies on your credit report, if all the negative items have in fact been rightly reported, CreditRepair claims their experts can ensure that all items are substantiated to highest degree possible and that all information on your report is updated.
Another area of expertise that CreditRepair offers is dealing with credit reports vis-a-vis bankruptcy proceedings. It is generally believed that bankruptcy is the worst possible scenario with regards to the health of your credit report.
CreditRepair says that in this situation it’s important to keep a track of revised items and ensure that they aren’t incorrectly reported. This would further weaken your credit report and increase the recovery period.
So, the consultants answer any and all questions you have about the financial best practices for a robust credit report.
Plans and Pricing
CreditRepair.com offers one standard plan that costs $99.95 per month and includes all the services mentioned above. In addition to this, the company takes a one-time payment of $14.99 for accessing your credit report.
The company claims that its services are geared towards improving your overall credit history.
They do offer the credit report repair services, but along with that they try to inculcate practices that will ensure your credit score doesn’t drop below a certain mark once again.
CreditRepair.com is headquartered in Seattle, Washington and have enrollment centres in West Valley, Utah and Phoenix, Arizona. You can sign up online or give them a call on 1-855-255-0263.
- CreditSaint – With a very simple pricing model, CreditSaint is a well respected company.
- CreditFirm.net – Well know as a mostly online platform, CreditFirm has a solid reputation.
- Lexington Law – The largest of all the credit repair companies, Lexington Law is affordable and effective.
- Value for money.
- Offers more than just short-term credit repair.
- Provide credit monitoring service via TransUnion.
- If you and your partner make payments together, there’s no option to manage and compare both credit reports.
- Charge for accessing your credit report.
Credit Repair.com Review Final Thoughts
Keep in mind that there’s a limit to how much your credit score can improve and the time that will be required. Irrespective of which credit repair company you consider, do ensure that you carry out basic due diligence.
The consultants at credit repair companies like CreditRepair are experts, so they know the nitty gritties of the entire process, but it doesn’t harm do some research on your own as well.
There are no shortcuts. You need to chip away at it and over a period of time you definitely pull your credit score up near the 700 points mark.