It's unfortunate that credit repair has a reputation similar to that of visiting the dentist - nobody really wants to deal with it or have anyone poking around. However, the reality is that if you have a pulse and the ability to persuade, you can open a credit repair company. This oversaturation in the industry has led to a credit repair company on every corner, similar to McDonald's. Having worked in the credit repair industry for 15 years, I am well aware of the scrutiny that our industry receives, and unfortunately, much of it is true.
Bad credit is a rampant issue that only seems to be growing worse. The rise in credit repair companies in recent years is a testament to the fact that consumers have many options but must do their due diligence to avoid being taken advantage of.
As the owner of one of the largest credit repair firms in the United States, I have had the privilege of serving over 20,000 people and changing their lives. As a result, I want to give back by providing transparency and insight into how the industry operates, as well as equipping consumers with the tools necessary to make informed decisions when hiring a credit repair company.
Contents:
How to Find the Best Credit Repair Company in Berkeley
Different Types of Credit Repair Companies in Berkeley: Which One Should You Choose?
The Credit Repair Process in Berkeley
The Importance of Personal Finances in Credit Repair
Free Credit Repair in Berkeley
Tips for Fixing Your Credit Score
How to Find the Best Credit Repair Company in Berkeley
When people ask me who the best credit repair company is, I always tell them to do their due diligence and research. Although online reviews can be helpful, they are not always reliable, so conducting your own research is crucial. I recommend making a list of credit repair companies in your area based on their Google review ratings and proximity to your home. Here are some essential steps to follow:
Reputation:
Only consider companies with a good online presence and reputation. You can check the company's website history by using https://archive.org/web/. Also, make sure to check if the reviews are legitimate and accurate.
Make the Call:
After narrowing down your list, call the companies to ask some essential questions. Be sure to ask about their experience, licensing, physical office location, free consultation availability, money-back guarantee, fee structure, and how long the process takes.
By following these steps, you will be able to analyze and make the best decision for yourself. Remember, persuasion is not a helpful tool for business owners to get customers to use their services, but instead, conviction through research is essential.
Different Types of Credit Repair Companies in Berkeley: Which One Should You Choose?
There are over a million active credit repair and financial service companies in the US, including Berkeley. With so many options on the market, it can be hard to distinguish between experienced and less experienced companies. This article aims to shed light on the three main types of credit repair companies available.
Flat fee companies
Flat Fee companies constitute only about 5% of the market, but we strongly recommend choosing them. They typically only charge for accounts they dispute, and you pay a one-time fee. As a result, they have an incentive to get your services completed fast, making them the quickest options available. They will first examine your credit reports to see if they can help you, then quote a price based on those accounts. This model allows for faster results and maximum savings, making it appealing to mortgage and loan officers alike.
Monthly fee companies
Most credit repair companies offer credit repair services for monthly fees. However, we believe this model to be inefficient as most companies that use it do not always review your credit report before taking you on as a client. With credit repair, the longer you're on the program, the longer the company gets to make money, so there is no incentive to fix your credit quickly. In addition, these companies only dispute a few items at a time. If you have ten negative accounts, it could take up to eight months to see results, which can get expensive.
Pay for Delete
Fewer companies offer Pay for Delete, but it can be a more appealing option. You only pay for results, which can put pressure on the company to perform. However, this model can be very expensive; an account that reports to all three credit bureaus is considered three separate items, and removing it incurs additional costs. Thus, Pay for Delete is only suitable for those who have a few negative accounts.
We recommend a flat fee model because it's the most cost-effective and quickest way to achieve results. However, we encourage you to do your research, review fee structures, and explore all available options before making a final decision.
The Credit Repair Process in Berkeley
When it comes to credit repair, the advice available can be outdated or not practical. As someone who has been in the industry for 15 years, I have seen how the process continually evolves, making it challenging for consumers to keep up. Credit reporting agencies are continually changing procedures to prevent effective dispute processes, and methods that worked in the past may no longer be suitable. Therefore, it's vital to stay abreast of all the changes to achieve successful outcomes.
Let's Talk About the Process
In 2015, "not mine disputes" became a popular process to dispute all negative accounts, resulting in success for several clients. However, after credit reporting agencies flagged them as "fraud," these accounts reappeared after the secondary legal reinvestigation process. As a result, credit reporting agencies put in place more sophisticated processes, including e-OSCAR, which made obtaining results challenging for clients. To see success in the dispute process today, you need to adopt new and unique tactics.
The New, Effective Credit Repair Process
While little-known, it's legal to contest the validity of any account on your credit report. So, instead of disputing only errors, you should request that the data furnisher prove that the account is yours and valid. This way, you can determine if there's an error and provide evidence if necessary to fix or delete it.
What Account Documentation Should I Ask for?
The type of documentation to request depends on the original loan authorized. If unsure, contact as a non-customer and ask what documents are needed to authorize a new loan. Quick Google searches can also provide more information on this. We will soon post a blog containing links to all requested documents for your reference.
The Importance of Personal Finances in Credit Repair
1. What drives your credit score is your personal financial situation. In fact, your credit score fluctuates based on the way you manage your personal finances. Credit repair is just one of many tools you can use to fix derogatory accounts on your credit report.
2. Sustainable credit is crucial in ensuring your credit score stays strong regardless of a recession or job loss. To achieve this, you need to have full control over your personal finances. Before investing in credit repair, focus on paying down any revolving credit balances, paying all your accounts on time, and minimizing your use of credit cards.
3. Credit repair can become an endless cycle for repeat offenders who focus solely on repairing their credit without addressing their underlying financial situation. By getting serious about filing your finances and focusing on paying down your balances, you can fix your credit once and for all.
Free Credit Repair in Berkeley
Have you ever wondered if you can fix your credit for free? The answer is yes! You can do it by yourself without spending much money. However, be prepared to invest a significant amount of time and effort. If you're willing to commit 2-4 hours a month to disputing your credit report for free, you can browse my blog post titled "Repair your credit like the pros" for a step-by-step guide. On the other hand, if you don't have the time or willingness to do it yourself, I highly suggest considering hiring a reputable credit repair company.
When I started in the credit repair industry, I offered free credit repair for testimonials or reviews. The value I received from these reviews was worth more than the cost of the disputes. If you're looking for a newer credit repair company willing to do the same, search for "Credit Repair" Facebook groups and post a similar message to mine. Although some people may not support it, there should be someone willing to lend a hand to fix your credit for free.
Tips for Fixing Your Credit Score
1. Conduct thorough research to find a credit repair company that can help you repair your credit score permanently.
This may require a considerable amount of time and effort, but it is essential to ensure that your money and time are not wasted.
2. Take a closer look at your personal finances, as it is often the root cause of most people's credit problems.
Many people try to fix their credit with their paychecks and then claim that credit repair does not work. In reality, it is their poor spending and saving habits that prevent them from keeping their credit score in good standing.
3. Credit repair is effective and can truly transform your life, as I have witnessed it in over twenty thousand of my clients.
However, it all begins with you; getting your finances in order is the first step towards a quick, easy, and long-term resolution to your credit score issues. Don’t lose hope, you can do it!