Like dentists, the credit repair industry has gained a negative reputation many would rather avoid. Unfortunately, with minimal requirements, practically anyone can establish a credit repair business, and as a result, they've cropped up like McDonald's restaurants; there's practically one on every corner. As someone who's spent 15 years in this field and runs one of the country's largest credit repair firms, I'm aware that our industry is subjected to heavy scrutiny; frankly, much of it is justified.
Bad credit is a widespread problem that's only growing worse with time. With the number of credit repair companies swelling in the past year alone, consumers have numerous options to choose from, but they must perform thorough due diligence to avoid being taken for a ride.
As a credit repair business owner, I've been fortunate enough to serve 20,000 individuals, transforming their lives and improving their financial standing. And so, as a way to give back to society, I seek to demystify our industry and offer insights into how credit repair companies operate, equipping you with the knowledge to make informed decisions when seeking their services.
Table of Contents
How to Find the Best Credit Repair Companies in Aurora
Different Credit Repair Companies in Aurora, IL: Understanding the Types
The Credit Repair Process in Aurora
The Importance of Personal Finances in Credit Repair
Free Credit Repair in Aurora
Assistance with Credit Repair
How to Find the Best Credit Repair Companies in Aurora
When clients ask me which credit repair company they should use, I always suggest conducting research and due diligence before deciding. Although online reviews are useful, they may not always be reliable, and I never recommend my company solely. However, after reviewing and calling several companies, a client may discover that my company is the best option. Based on my experience, I have compiled a list of things to do to determine the best credit repair company in Aurora.
Make a List
Begin by conducting a quick Google search for credit repair companies near you. Compile a list of those with a good rating who are close to your residence.
Reputation
Established credit repair companies should have been online for at least three years, but beware of fly-by-night firms. Check reviews to ensure that they are legitimate and relatively plentiful.
Make a Call
Once your list is narrowed down, begin contacting each credit repair company. Be sure to ask specific questions to better understand the company's policies and procedures.
Here are some helpful questions:
-What is your company's experience, and are you licensed and bonded?
-Do you have a physical office location for meetings?
-Is there a free consultation offered?
-Do you offer a money-back guarantee?
-What is your fee structure like?
-How long is the average process?
Asking these questions will assist you in making the most informed decision based on your analysis.
Different Credit Repair Companies in Aurora, IL: Understanding the Types
With over one million US credit repair and financial service companies, finding the right company can be challenging. To help you better understand the process, here are the three types of credit repair companies you'll come across in Aurora:
Flat Fee Companies
This type of company bills you for only the disputed accounts and offers faster results than the rest. The credit repair company will review your credit reports and quote a price based on the accounts. A flat fee structure ensures that there is no prolonging of the process, allowing you to get pre-approved quickly.
Monthly Fee Companies
Most credit repair firms use a monthly fee structure, which isn't efficient, especially if the company doesn't check your credit report. The longer your credit is in the program, the more you end up paying. Plus, disputed items are limited to one per month, making it a longer process.
Pay for Delete
Fewer companies offer this model, which has its benefits as you only pay for results. However, the cost can add up, considering that each item removed incurs a fee. Therefore, make sure you check the fee structure before committing to anything.
In conclusion, while the flat fee model is the best option, carry out your research and calculations to make an informed decision.
The Credit Repair Process in Aurora
When it comes to credit repair, there is a lot of advice - some outdated and not good. In the industry for 15 years, we've found that the process is always evolving, especially when you consider the changes in laws and regulations. Credit reporting agencies can make it difficult for consumers to use an effective dispute process by putting in processes and procedures to outsmart them, including driving them to online platforms. To keep up with these changes, we ensure that we always provide the best results to our clients.
Let's Talk About the Process
Since its popularity in 2015, credit repair has undergone many changes, the most significant being the introduction of e-OSCAR. This development allowed credit reporting agencies to sift out frivolous dispute letters, making results within the dispute process increasingly challenging. This means that you need to use new and unique dispute tactics to achieve the best results.
The New, Effective Credit Repair Process
Although the process I am about to share with you isn't a secret, most people aren't using it effectively because they don't comprehend the steps. Firstly, it's your right to contest the validity of any account on your credit report. That way, you can ask the data furnisher to validate the account's validity and ensure that it's yours. This approach beats merely disputing errors on your credit report. Once you've requested validation, the data furnisher must provide proof of the account, such as original signed documents or payment ledgers showing all transactions.
Account Documentation
The account documentation you need depends on the original loan approval. If you aren't sure what to request, ask as a non-customer what documents are required for a new loan authorization. Alternatively, do a quick Google search for more information on what you should ask for. We'll soon post a blog on this topic, providing access to all the documents you can request, so stay tuned.
The Importance of Personal Finances in Credit Repair
The key to improving credit scores and achieving sustainable credit lies in recognizing the influence of personal finances. While credit repair can address some credit issues, it is not a standalone solution. Prioritizing personal finances is crucial, including managing spending habits, paying down debts, making timely payments, and minimizing credit card usage. By addressing financial deficits, individuals can experience lasting improvements in their credit scores, avoiding the trap of an endless credit repair cycle. It is essential to prioritize personal finances for long-term success in credit repair.
Free Credit Repair in Aurora
A common question arises among people looking to improve their credit score: “Is there a way to fix my credit for free?†In Aurora, the answer is yes - you can fix your credit on your own by completing the necessary services. While I have previously provided detailed steps to repair credit like a professional on my blog, it comes with a hefty “time†price. Nevertheless, you do have the legal right to dispute your credit report at any time. However, most people may not be willing to put in the work or time to do so. In such situations, I highly recommend seeking help from a professional credit repair company. However, for those willing to dedicate 2-4 hours per month to disputing their credit report free of charge, my blog post on how to "Repair your credit like the pros" provides detailed insights and can be a useful resource.
Testimonial or Review
When I started in the credit repair industry, I offered people free credit repair in exchange for a testimonial or review. During the early 2000s, I did not have any reviews or testimonials, and I would ask people to let me fix their credit in exchange for a testimonial or review. Although it cost me to send out their disputes, the immense value of the review outweighed the negligible cost of providing free credit repair. Nowadays, many newer credit repair companies are willing to provide free credit repair in exchange for a detailed positive review. My suggestion is to join relevant Facebook groups by searching for "Credit Repair" and make a simple post such as:
“I’m looking for a new credit repair business owner willing to help me with some credit concerns in exchange for an immensely detailed 5-star review.â€
While you may encounter a few negative or harsh comments, you should have no difficulty finding someone to do your credit repair for free. Here are a few additional tips:
Assistance with Credit Repair
To ensure you do not waste your time and money, carry out extensive research when searching for the perfect credit repair company. This may entail reaching out to various companies before making a final decision. Also, focus on your personal finances, which are often the root of many credit issues. Sometimes, individuals spend their paychecks fixing their credit, only to later claim that credit repair is a scam when the problem lies in poor spending and saving habits. However, credit repair is a proven solution that has transformed the lives of over 20,000 clients. Getting your finances in order before opting for credit repair is crucial, as this leads to a quick, easy, and permanent solution. Keep going, and don't give up hope!
Here are some final tips to follow:
- Conduct thorough research before selecting a credit repair company.
- Work on your personal finances.
-Correcting your credit is a viable solution if you get your finances under control.