Similar to how most people dislike going to the dentist, credit repair, unfortunately, has a similar reputation of being unpleasant and unwanted. However, with the minimum qualifications required to open a credit repair company, there seems to be one on every corner. As someone who has been in the credit repair industry for 15 years and runs one of the largest credit repair companies in the nation, I am very familiar with the negative perception of our industry, which in some instances, is warranted.
The reality is that bad credit is a growing problem, and the increase in credit repair companies within the past year highlights the abundance of available options. As a consumer, it is crucial to conduct thorough research to ensure you do not become a victim of predatory credit repair practices.
Having served over 20,000 individuals and positively impacted their lives, I feel it is my obligation to give back by offering transparency and guidance on how the credit repair industry operates. My aim is to provide you with the necessary tools to make an informed decision when choosing a credit repair company.
Table of Contents
How to Determine the Best Credit Repair Company in Norfolk
Different Credit Repair Services in Norfolk
The Credit Repair Process in Norfolk
Part of the Solution: Fix your Personal Finances Before Credit Repair
Free Credit Repair in Norfolk
Tips for Fixing Your Credit
How to Determine the Best Credit Repair Company in Norfolk
When asked who Norfolk's best credit repair company is, I refuse to promote my company. Instead, I encourage people to do their own research and find the right one for them. Although online reviews can be helpful, they're not always trustworthy. That's why I've put together a list of things you should consider when looking for a credit repair company in Norfolk:
1.Make a list of the credit repair companies in your area with acceptable Google reviews that are close to your home.
2. Check for companies that have a good online presence and reputation. Established companies usually have a website that's been online for at least three years. Ensure that their reviews are legitimate and accurate.
3.Call the shortlisted companies and ask questions such as how long they have been doing business if they have a physical office, if they offer a free consultation, if they offer a money-back guarantee, and how their fees are structured.
These questions will help you analyze the companies and find the right one. Remember, persuasion isn't a valuable tool for a business owner; instead, conviction through research is essential. With this in mind, find the best credit repair company that meets your needs.
Different Credit Repair Services in Norfolk
Norfolk has plenty of credit repair and financial service companies to choose from. However, with over 1 million active companies in the United States, it's hard to differentiate between experienced and inexperienced companies. In this article, we'll explain the three types of credit repair companies you'll find and how they work.
Flat Fee Companies
The flat fee structure is the best way to save money and get the fastest results. Only about 5% of companies operate using this model. Flat fee credit repair companies will bill you for the specific accounts they dispute, and you pay a one-time fee for this service. They are usually faster in this process because they have an incentive to complete your services in the quickest amount of time. Following this, they'll assess your credit reports and quote you a price based on the accounts they will dispute.
Monthly Fee Companies
The majority of credit repair companies charge monthly fees. However, this model is not efficient because most of these companies do not look over your credit report before starting work. As a result, their effectiveness is questionable. Monthly fee companies also have no motivation to fix your credit fast because the longer you're on their program, the longer they can collect a fee. Moreover, they usually dispute a few items at a time, which means fixing ten negative accounts could take 6-8 months to yield results. While the monthly payments seem inexpensive, it can get very expensive out of pocket.
Pay for Delete Companies
Though fewer companies offer this model, it is enticing as you pay just for results. This puts pressure on the credit repair firm to perform efficiently. However, pay-for-delete companies hook you by stating they are fee-based and then charging you a lot of money to remove each item from your credit report. For instance, some companies will charge you a $299 set-up fee with a non-refundable quote of $75 per item removed. If an account reports to all three credit bureaus, it is considered three items. You'll pay $524 to get one account removed from all three credit reports.
We recommend choosing a flat fee company in Norfolk because it's the best option. But we suggest you perform your research and calculations so that you can make the best decision for yourself.
The Credit Repair Process in Norfolk
The credit repair process can be ambiguous and confusing, and with an abundance of advice available online, much of which is outdated or untrue, it is essential to be aware of the most up-to-date practices. With over 15 years of experience in the industry, our team has perfected the credit repair process to provide the best results for our clients. It is worth noting that the credit repair process is continually evolving, further complicated by regulatory changes and law updates. Therefore, our team tracks these changes to reflect them in our processes and provide our clients with effective solutions.
Explaining the Process
With credit repair gaining popularity in 2015, many users were successful in disputing negative and derogatory accounts with a simple “not mine dispute†approach, forcing the credit reporting agencies to remove the account. However, this process was fraught with flaws, with previously removed accounts reappearing after a few months, thanks to secondary investigations. To combat this, credit reporting agencies developed more refined processes, including e-OSCAR, to thwart frivolous disputes. Thus, using new and unique tactics, rather than only disputing errors, ensures success in removing items from your credit report.
Introducing the Effective Credit Repair Process
While the process has been around for a while, most people fail to use it effectively due to a lack of understanding of the necessary steps. Contesting the validity of any account on your credit report is your legal right. Instead of disputing only errors online, you should request that the data furnisher provide proof of the account, including signed documents and payment ledgers. A quick Google search can help determine the necessary paperwork and documentation to request from the data furnishers to ensure their authenticity. Our team is working on a blog with comprehensive information and links to the documents for future clients to access.
Part of the Solution: Fix your Personal Finances Before Credit Repair
Your credit score reflects your personal finances, which is why credit repair alone is not the ultimate solution to credit sustainability. You need to establish control over your finances to achieve long-term credit strength despite economic hardships. This means paying off all your obligations, making timely payments, and limiting credit card usage. While keeping a small balance on your card can help avoid account closure, it's best to save credit usage for emergencies only. You can improve and sustain your credit score by prioritizing financial stability and preventing drastic fluctuations or losses. Otherwise, you may end up stuck in an endless cycle of credit repair, wasting your money without making noticeable progress toward financial freedom. Focus on fixing your finances before turning to credit repair to finally achieve sustainable credit.
Free Credit Repair in Norfolk
Are you wondering if it's possible to fix your credit for free? You can repair your credit without spending a penny, except for the cost of paper and a stamp. You can take several steps to fix your credit, just like the professionals. However, keep in mind that it will require a considerable amount of your time. If you are not up for the task, consider hiring a professional credit repair company to do the work for you. Nonetheless, if you are willing to commit 2-4 hours every month to disputing your credit report for free, you should check out our blog post on how to repair your credit like the pros.
Testimonial or Review for Free Credit Repair
When we started offering credit repair services, we used to provide free credit repair services in exchange for testimonials or reviews. We would fix people's credit in return for them sharing their honest feedback about our services. If you want free credit repair, we recommend joining credit repair Facebook groups in Norfolk and posting a message asking for a credit repair business owner's help in exchange for a detailed and accurate 5-star review. Although it comes with some risk, you should be able to find someone willing to do it for you.
Tips for Fixing Your Credit
Conduct thorough research to find the best credit repair company to help you permanently address your credit issues. While it may be time-consuming, it's important to ensure that your money and effort are not wasted.
Don't neglect your personal finances, as this is often the root cause of most credit problems. Many people spend their whole paycheck on credit repair services without addressing their bad spending and saving habits, only to later complain that the services didn't work.
Based on my experience with over twenty thousand satisfied clients, credit repair does work. However, it's essential to first establish control over your finances to make credit repair a quick, easy, and long-lasting solution. You can do this, so don't give up hope!