Similar to the reputation of dentists, credit repair, unfortunately, carries a negative connotation. No one wants someone to mess with their credit, and they don't want to deal with credit repair companies. However, the truth is that these companies are becoming increasingly common. Anyone who can persuade can start a company, so you'll find them on every corner, much like McDonald's.
As someone who has been in the credit repair industry for 15 years and runs one of the largest companies in the nation, I am well aware of the scrutiny surrounding our industry. Unfortunately, a lot of it is true. Bad credit is an epidemic, and it's only getting worse. With so many credit repair companies available, it's important that you do your research to make sure you don't get taken advantage of.
As a business owner, I've had the opportunity to help more than 20,000 people, and I've seen firsthand how credit repair can change lives. To give back, I want to provide transparency and clarity about how the industry works and give you the tools you need to choose the best credit repair company.
Table of Contents
How to Find the Best Credit Repair Company in New Orleans
Different Credit Repair Options in New Orleans: Comparing the Three Types of Companies
The Credit Repair Process in New Orleans
Credit Improvement Goes Beyond Credit Repair
How to Get Free Credit Repair in New Orleans
Tips for Finding a Top Credit Repair Company
How to Find the Best Credit Repair Company in New Orleans
If you are looking for the best credit repair company, you need to do your due diligence and research before making a decision. Online reviews are a good start, but they are not always legitimate. It's important to create a list of candidates based on their established reputation and online presence. Once you have a shorter list, it's essential to call them and ask the right questions to obtain a better understanding of the company.
Here are some tips on how to find the best credit repair company in New Orleans:
-Make a list of credit repair companies in your area with a good or acceptable Google review rating and a physical office.
-Check their website history to ensure the company has been established for at least three years and is licensed and bonded.
- Call the companies on your list and ask how long they have been in business, have a physical office, offer a free consultation, a money-back guarantee, what is their fee structure, and how long their process takes.
These questions are important to help you analyze and make the most effective, least expensive decision for yourself.
Different Credit Repair Options in New Orleans: Comparing the Three Types of Companies
There are more than a million financial services and credit repair companies in the United States. While the large selection means the client can be more picky, it also makes it challenging to differentiate between experienced and inexperienced companies. Here are three types of credit repair companies to help you understand the differences:
Flat fee companies
About 5% of all credit repair companies are flat-fee-based, offering the quickest results while saving you money. These companies evaluate your credit report to see the problematic accounts that need the most work. Afterward, they charge a one-time fee, only billing for accounts they dispute and helping you get fast results because they have an incentive to complete the job quickly.
Monthly fee companies
Most credit repair companies utilize a monthly fee structure. This method, in our opinion, is not very efficient because they rarely review the client's credit reports, so it's hard to assess whether they can help you or not. Additionally, this structure generally takes longer, and the company tends to dispute only a few items each time, making it challenging to get the full results you need. While it may cost less per month, costs can add up over time, which is why the monthly fee model may not work for everyone.
Pay for Delete
Only a few companies offer this model, which provides an alluring way to pay for credit repair. Here, you only pay for the results, which puts pressure on the repair company to deliver. Although this sounds enticing, most Pay for Delete companies charge substantial amounts for each item removed, which can be expensive if you have many items to address. Clients pay a setup fee, which isn't refundable, and an additional fee per item deleted. Most companies count an account deletion as one item for every credit bureau you are disputing, making the method sound better than it is. As a result, it is essential to ask for the fee structure and know what to expect before committing to it.
While we always recommend using a flat fee model because it's the most efficient option, it's also important to research your options and make an informed decision based on your unique needs.
The Credit Repair Process in New Orleans
When it comes to credit repair, there's a lot of advice out there, but much of it is outdated or not helpful. Having spent 15 years in the industry, I've seen firsthand how the credit repair process continually evolves and is further complicated by regulations and law changes. Credit reporting agencies are always looking for ways to outsmart the consumer and limit their ability to dispute inaccuracies. To provide the best results to our clients, we keep up with these changes and make sure we're using the most effective dispute process.
Let's delve into the credit repair process and its history. In 2015, the "not mine disputes" process was popular, but it was short-lived. Although it initially allowed clients to see immediate results, it was soon replaced by more refined processes such as e-OSCAR, which made it harder to achieve results within the dispute process. Nowadays, using new and unique dispute tactics is essential to getting items corrected or deleted from your credit report.
To succeed, you must understand that it's your right to contest the validity of any account on your credit report. Instead of only disputing errors, request that the data furnisher provide proof of the account, such as original signed documents or payment ledgers. If you find an error, use this proof to respond and request that it be fixed or deleted. To know what documents to request, call your creditor or do a Google search. Stay tuned for our upcoming blog post on this topic, where we'll provide a link to all the documents you can request.
Credit Improvement Goes Beyond Credit Repair
When it comes to personal credit, we have to understand that it's our personal finances that actually drive our credit score. Bad financial habits can lead to credit issues. Therefore, improving credit scores is not just about credit repair; it requires us to focus on our financial situation as a whole. Credit repair can help fix derogatory accounts, but it's not a perfect solution. To achieve sustainable credit, we must have full control over our personal finances. For this reason, it's essential to prioritize paying down revolving credit balances, paying all accounts on time, and limiting the use of credit cards. We need to fix our financial deficit before investing in credit repair to maintain sustainable credit. Otherwise, we will continue to be stuck in an endless cycle of credit repair. Repeat clients are a significant issue in the credit repair industry. The key is to focus on our finances first and get them in line. This way, our credit scores will follow suit, leading to fewer fluctuations and long-term credit sustainability.
How to Get Free Credit Repair in New Orleans
If you are wondering whether you can repair your credit for free, the answer is yes. In fact, with just paper, a pen, and a stamp, you can dispute your credit report yourself. However, keep in mind that this comes at the cost of your time. To help you get started, I have written blog posts detailing how you can repair your credit like a professional. But if you don't have enough time, hiring a professional credit repair company might be a better option. However, if you are committed to putting in 2-4 hours a month, it's worth checking out my blog post on how to repair your credit for free.
Credit repair companies may also offer free credit repair in exchange for a glowing review. If you're interested, the best way to find such opportunities is to join one of the many Facebook groups devoted to credit repair and make a post similar to this one: "I'm looking for a New Orleans-based credit repair business owner who could help with my credit concerns in exchange for a detailed five-star review." You may encounter some negativity, but it's highly likely that someone will take up the offer.
Tipsfor Finding a Top Credit Repair Company
It is important to thoroughly research and find the best credit repair company to permanently fix your credit. Reach out to different companies to determine which is most suitable for you. However, it is strongly advised to work on your finances, as they are often the main cause of credit problems. Avoid spending all your paychecks on credit repair services and later claiming it didn't work or was a scam. Remember that the root problem could be poor money habits and improper financial management. While credit repair has proven its effectiveness and reliability with thousands of satisfied clients, gaining control of your finances is crucial to avoid falling back into the credit trap. Stay hopeful and know that you can get your credit and finances in order with the right attitude and guidance.