Similar to dentists, credit repair, unfortunately, has a reputation that most people would rather not deal with. The ability to open a credit repair company with minimal requirements has led to a saturation of the market, making them as common as McDonald's restaurants on street corners. As someone who has been in the industry for over 15 years and operates one of the largest credit repair companies in the country, I am aware of the negative connotations our industry faces, and I must admit that some of them hold merit.
The prevalence of bad credit is concerning, and it's only worsening. The surge of credit repair companies in the last year exemplifies the many choices available, requiring consumers to conduct significant research to ensure they are not taken advantage of.
As a credit repair business owner, I've had the opportunity to assist more than 20,000 individuals in improving their lives and finances. To give back, I strive to provide transparency and a clear understanding of our industry's workings. Therefore, I offer you the tools to choose the best credit repair company.
Table of Contents
How to Find the Best Credit Repair Services in Jackson
Comparing Credit Repair Companies in Jackson, MS
The Credit Repair Process in Jackson
Credit Repair is Just Part of the Solution for Sustainable Credit
Free Credit Repair Services in Jackson
Tips to Consider When Choosing the Right Credit Repair Company
How to Find the Best Credit Repair Services in Jackson
When it comes to finding the best credit repair company, it's important to do your due diligence and conduct thorough research. Although online reviews can be helpful, they're not always legitimate. If you're looking for credit repair services in Jackson, follow these three steps to help you identify the right company for you:
Create a list
Start by conducting a quick Google search for credit repair companies in Jackson. Look for companies with a good or acceptable Google review rating that are located near your home. While you're not required to use a local company, selecting a nearby option can provide you with an added sense of security.
Check the reputation
It's vital to only consider companies with a good online presence and reputation. Many fly-by-night credit repair firms exist, so make sure to do your research. An established credit repair company should have a website that's been online for at least three years. Check the company's online reviews and make sure they have enough to make you feel confident. You should also scan the reviews to ensure their accuracy and legitimacy.
Make the call
After you've narrowed down your list, call the companies you're considering to ask a few important questions. This step requires a bit of work, but it's a crucial part of the process. Some questions to ask include:
- How long have you been in business, and are you unlicensed and bonded?
- Do you have a physical office where I can meet you and your team?
- Do you offer a free consultation?
- Do you offer a money-back guarantee?
- What is your fee structure like? Do you charge a flat fee or a monthly fee?
- How long does the average process take?
Asking these questions will give you the clarity you need to make the best decisions for your situation. Remember, the goal is to find the most effective but least expensive credit repair company in Jackson.
Comparing Credit Repair Companies in Jackson, MS
There are more than 1 million active credit repair and financial service companies in the United States, and Jackson, MS, is no exception. While having many options to choose from gives consumers more flexibility, it may also make it challenging to distinguish between experienced and inexperienced companies. Understanding the different types of credit repair companies can help you select the most suitable one for your needs.
Flat fee companies
Only 5% of companies use this model, and it is considered the most effective way to get rapid results while saving money. Under this structure, you pay a one-time fee for the accounts the company challenges. You will not be charged for any account that is not disputed. The credit repair company usually assesses your credit reports before quoting the price for the accounts that need fixing. Flat fee services can save you time because the company has an incentive to complete the service as quickly as possible. The flat fee model is suitable for different clients, including home loan applicants who need rapid pre-approvals.
Monthly fee companies
Most credit repair companies follow a monthly fee model. However, this structure may not be ideal because most firms do not evaluate your credit report before you sign up. This raises the question, how do they determine if they can help? The longer you stay under this plan, the more fees the company collects, and they may have no motivation to fix your credit quickly. It can take several months for the company to dispute a few items, which can be too long for some clients. While the monthly fee model may reduce out-of-pocket expenses, the fees can accumulate over time, making it an expensive model.
Pay for delete
Only a few companies offer pay-for-delete services. Under this model, you pay only for results, which compels the company to act fast. However, some clients are caught off-guard when they start paying a high fee for every item removed. For instance, you could pay $75 per item removed, and when the same account is reported across all three bureaus, you pay $225 for one account. Additionally, most pay-for-delete companies charge a nonrefundable setup fee, which can be expensive. It is essential to ask about the fee structure and inquire from the company about the total cost of removing all accounts from your credit report.
In conclusion, while we recommend choosing a flat-fee credit repair company, it is crucial to conduct independent research and evaluation to select the best option for you.
The Credit Repair Process in Jackson
When it comes to credit repair, there's a lot of advice out there, but not all of it is good or up-to-date. With changing regulations and laws, the credit repair process is always evolving, and it's not uncommon for credit reporting agencies to put processes in place to make disputing disputes more difficult. This is why our team stays up-to-date on the latest changes to provide the best results to our clients.
Let's talk about the credit repair process in more detail. When credit repair became popular around 2015, many people had success disputing negative accounts with a process called "not mine disputes," claiming the accounts weren't theirs. However, the credit reporting agencies quickly refined their processes to make it more challenging to get results. Today, using unique and effective dispute tactics is essential to getting items corrected or deleted from your credit report.
So, what's the new, effective credit repair process? First, contest the validity of any account on your credit report, meaning ask that the account be validated to ensure it's both yours and valid. Do not only dispute errors on your credit report. Request proof of the account from the data furnisher, such as original signed documents or payment ledgers, to determine whether there's an error or issue with the account. Then, respond with proof by stating what the error is and requesting it be fixed or deleted.
If you're unsure what documentation to request or to learn more, call a non-customer to ask what documents are needed to authorize a new loan or do a Google search. Our team will soon post a blog with more information and documents on this topic.
Credit Repair is Just Part of the Solution for Sustainable Credit
When it comes to personal credit, your financial situation is the primary driver of your credit score. The reason why so many Americans struggle with credit issues is that their personal finances are often not in order. Similar to the stock market, credit scores tend to fluctuate based on one’s financial habits. Credit repair can help you fix derogatory accounts on your credit report, but it's not a comprehensive solution. To achieve sustainable credit, you need to focus on getting your personal finances in order. While anyone can fix their credit and raise their scores, the key is maintaining that credit strength regardless of any tough financial situation. For this reason, it's crucial to work on paying down revolving credit balances, paying all your accounts on time, and reducing credit card usage before investing in credit repair. Improving your finances is the best way to achieve sustainable credit and reduce large decreases in overall credit scores.
The pitfall of an endless credit repair cycle
In many cases, credit repair becomes a cycle where clients repeatedly seek help without addressing the root cause of their financial struggle. This happens when people focus solely on credit repair instead of getting serious about their financial deficit. To prevent this cycle, it's essential to get your finances in order and use your income to pay down balances before seeking credit repair. While it's possible to work on your finances and credit simultaneously, most people cannot do both due to financial constraints. To achieve permanent credit improvement, you need to prioritize getting your finances in shape. This is the most significant piece of advice for anyone serious about fixing their credit for the long term.
Free Credit Repair Services in Jackson
You may often wonder whether it's possible to fix your credit for free. Well, the answer is yes, you can fix your credit for free by taking on the task yourself. It might take up a lot of your time, but it can be done by following the steps outlined in various blogs. Although you have the right to dispute your credit report, most people don't have the time or inclination to do so. In such cases, I recommend hiring a professional credit repair company to do the job for you. However, if you're willing to put in about 2-4 hours per month to dispute your credit report, you should check out my blog post on "Repair your credit like the pros."
Testimonial or Review
When I started my career in credit repair, I used to offer free credit repair services in exchange for customer testimonials or reviews. At the time, I had no reviews or testimonials, so I asked my clients to allow me to fix their credit in exchange for a testimonial or review. Although there was a small cost associated with sending out their disputes, the value I received from the review was well worth the cost. There are now many new credit repair companies that would be happy to offer the same deal. To get started, you can join a "Credit Repair" Facebook group and post a simple message asking for help with your credit score in exchange for a detailed 5-star review. You might receive some negative feedback, but you should have no trouble finding someone to fix your credit for free.
Tips to Consider When Choosing the Right Credit Repair Company
Credit repair can be a long and difficult process, but it is possible to fix your credit and achieve financial freedom. However, it is important to do your research and choose a reputable credit repair company. You should also work on your personal finances and improve your spending and saving habits. With the right practices and mindset, you can achieve your financial goals.