The credit repair industry often receives a negative reputation that is similar to that of dentists. Many individuals do not want anyone interfering with their finances and credit scores, nor do they desire to interact with credit repair businesses. Unfortunately, anyone with the ability to persuade and a pulse can open a credit repair company, leading to a saturation of such companies similar to the prevalence of McDonald’s franchises. As a credit repair business owner for the past 15 years and the owner of one of the nation’s largest credit repair businesses, I share the same criticisms of the industry that most people hold.
An epidemic of bad credit is prevalent and continuing to escalate. The recent increase in credit repair companies highlights the numerous consumer options available, necessitating diligent research to avoid manipulation by unscrupulous companies.
Having helped over 20,000 individuals as a credit repair business owner, I have had the honor of changing their lives. My personal commitment is to provide a clear and candid understanding of our industry’s inner workings while equipping individuals with the knowledge to make the best decisions when choosing a credit repair company.
Table of Contents
How to Find the Best Credit Repair Company in Lakewood
Different Credit Repair Services in Lakewood, CA: What Sets Them Apart?
The Credit Repair Process in Lakewood
Personal Finance Comes First for Sustainable Credit
Free Credit Repair Services in Lakewood
Helpful Tips for Improving Your Credit Score
How to Find the Best Credit Repair Company in Lakewood
When people approach me asking about the best credit repair company, I advise them to conduct their own research. Although online reviews are helpful, they are not always reliable. I suggest looking for companies in Lakewood with good Google review ratings that are close to their homes. Afterward, I recommend checking the company's website history and reputation by reading reviews to ensure their authenticity. Once you have narrowed down your list of potential companies, it's time to make calls. During the call, ask meaningful questions about their services, experience, licensing, fee structure, and process timeline. By doing this, you get to analyze and determine the most effective and affordable option for you. Here are the detailed steps to finding the best credit repair company:
1.Make a list of potential credit repair companies in Lakewood.
2. Search for companies with good online reviews, an acceptable Google rating, and proximity to your residence.
3. Verify their website history and reputation by checking the reviews' authenticity.
4. Contact the company by phone and ask insightful questions about their services, experience, licensing, fee, and process timeline.
5. Analyze and determine the most effective but least expensive company for you.
Different Credit Repair Services in Lakewood, CA: What Sets Them Apart?
The United States has over a million active credit repair and financial service companies available to consumers. While this gives consumers more options, it can also make it difficult to distinguish between experienced and inexperienced companies. To gain a better understanding of how credit repair works, it is important to understand the three different types of credit repair companies available to you.
Flat fee companies
Only about 5% of companies operate on a flat fee basis. In our opinion, this is the most efficient way to see quick results and save money in the process. Flat-fee credit repair companies are typically faster because they have an incentive to get the job done as quickly as possible. Typically, the credit repair company will review your credit reports to determine if they can help you. They will then quote you a price to fix the items you want to dispute, and you will pay a one-time fee for this service. This structure is especially appealing to clients who are looking to get pre-approved as quickly as possible.
Monthly fee companies
Most credit repair companies charge monthly fees. Although this structure can work for some people, it is less efficient and can get very expensive. Monthly fee companies are less likely to review your credit report first and may only dispute a few items at a time, which can take 6-8 months to get full results. While the monthly payments may be lower, the fees can add up over time.
Pay-for-delete
Fewer companies offer this model, which allows you to only pay for results. While this structure can be appealing to many people, it is important to research the company and ask to see its fee structure before signing up. Typically, a pay-for-delete company will charge a set-up fee and then additional fees for each individual item removed from your report. This can quickly become very expensive, especially if you have multiple items on your report.
Choosing a flat-fee credit repair company is the most cost-efficient and quickest way to see results. However, we encourage you to do your own research and calculations to choose the best credit repair service for your specific needs in Lakewood, California.
The Credit Repair Process in Lakewood
Credit repair can be a confusing process, with outdated or misguided advice being rampant. With regulatory and legal changes constantly impacting the industry, credit reporting agencies are always looking for ways to outsmart the consumer by limiting their dispute process. At our credit repair company, we continuously study and perfect the evolving credit repair process to ensure the best results for our clients.
While disputing all negative accounts with a "not mine" claim was popular in 2015, this method was soon thwarted by credit reporting agencies implementing e-OSCAR to filter out frivolous dispute letters. Today, it is important to use new and effective dispute tactics to achieve results in credit repair.
To make the most of the legal right to contest the validity of any account, requesting the data furnisher to validate the account can ensure that it is both yours and valid. Only then should you address any errors on the account. If you are unsure of what documentation to request, a quick Google search or contacting the loan issuer can provide clarity. Stay tuned for a blog on this page that will provide links to all documents you may need.
Personal Finance Comes First for Sustainable Credit
Your credit score is driven by your personal finances. This is especially important to understand, as many Americans struggle with credit issues. Just like the stock market, credit scores fluctuate based on financial situations. Credit repair is only one tool in a toolbox of solutions for fixing derogatory accounts on credit reports. Credit sustainability requires getting personal finances in line. Even if anyone can fix their credit and boost their credit score, the challenge is to keep it sustainable, regardless of economic conditions or employment changes. Full control over personal finances is key to maintaining a good credit score. Paying down debts, making timely payments, and limiting credit card use will help get finances in line and improve credit scores. Credit repair becomes an endless cycle when clients do not seriously address their finances. Relying solely on credit repair without changing financial habits just results in repeat offenders. Clients must focus on getting their finances in line first and then maintaining their credit score; fixing your financial deficit is the best solution to credit sustainability.
Free Credit Repair Services in Lakewood
If you are wondering whether there is a way to fix your credit without spending money, the answer is yes. You can do it yourself for just the cost of a piece of paper and a stamp. While it is true that you have the legal right to dispute your credit report anytime, this usually involves investing a significant amount of time. I have outlined various steps on my blog to guide you on how to repair your credit like an expert. However, anything free comes at a "time" cost, and it may not suit everyone. For those who prefer not to spend time fixing their credit, I suggest employing a professional credit repair firm to handle it for them. But if you are committed to spending 2-4 hours a month on credit report disputes, I recommend reading my blog post on “Repair your credit like the pros."
Share your Feedback
When I started operating in the credit repair industry, I began offering free credit repairs to people in exchange for testimonials or reviews. Since I did not have any testimonials or reviews at the outset, I would request that people let me fix their credit in exchange for a review or testimonial, and they would receive free credit repair services in return. While it cost me money to send out credit disputes, the testimonial value far outweighed the relatively minor cost of credit repair. My suggestion is to look for Credit Repair Facebook groups, join them, and post this message:
“I am seeking a new credit repair business owner who would help me with some credit concerns in exchange for an incredibly detailed 5-star review."
You may encounter naysayers, but you should have no trouble locating someone to repair your credit for free.
Helpful Tips for Improving Your Credit Score
Conduct thorough research to find the best credit repair company that can assist in permanently fixing your credit. It may be a time-consuming process, but it's crucial to ensure that your money and time are not wasted.
Focus on improving your personal finances, which is often the underlying issue. Many people struggle to fix their credit because of their bad spending and saving habits, not because credit repair is ineffective.
Understand that credit repair can work and have helped thousands of individuals improve their credit scores. However, it's important to recognize that it all begins with taking control of your financial situation. Make responsible financial decisions, and you'll be well on your way to achieving a good credit standing.
Don't give up or lose hope. With the right mindset and dedication to good financial practices, you can successfully improve your credit score and attain a better quality of life.