The field of credit repair is often likened to going to the dentist, as no one enjoys having someone poke around in their personal financial affairs. However, the credit repair industry has exploded in recent years, with new companies popping up on every corner, like fast food restaurants. As someone who has been a part of this industry for 15 years and who runs one of the largest credit repair companies in the country, I am well aware of the criticism it faces, much of which is warranted.
Poor credit is a growing problem, and the sheer number of credit repair companies that have emerged in the past year alone is a testament to this fact. As a consumer, it is crucial to do your homework and thoroughly vet any credit repair company before entrusting them with such an important task.
As a credit repair business owner, I have been fortunate enough to help more than 20,000 individuals improve their credit scores and transform their lives. In an effort to give back, I want to shed light on how our industry operates and equip you with the knowledge and tools you need to make an informed decision when selecting a credit repair company.
Table of Contents
How to Find the Best Credit Repair Company in Tulsa
Different Credit Repair Companies in Tulsa: Understanding the Three Types
The Credit Repair Process in Tulsa
Personal Finances are the Key to Sustainable Credit
Free Credit Repair in Tulsa
Tips for Achieving Permanent Credit Repair
How to Find the Best Credit Repair Company in Tulsa
When people ask me about the best credit repair company, I always advise them to conduct their own research instead of claiming that my company is the top-rated one. While online reviews are helpful, they are not always trustworthy. I suggest making a list of companies in your area and performing due diligence to make a well-informed decision. I've compiled a list of steps that you should take to identify the best credit repair companies in Tulsa:
Create a List
Perform a quick Google search and shortlist companies in Tulsa with decent Google ratings, reviews, and proximity to your home.
Reputation
Ensure that the listed companies have a good online presence and reputation. Check their website history and online reviews, and ensure that they have a good number of real reviews. Disqualify any company that has bad or fake reviews.
Make the Calls
After you have a shortlist of companies, call them to learn more about their services.
Here are some essential questions to ask them:
-Ask about the duration they have been in business and their licensing status.
-Do they have a physical address in Tulsa where you can visit them?
- Do they offer free consultations or money-back guarantees?
-Ask for their fee structure and the average processing time.
Asking these questions will allow you to make an informed decision about which credit repair company to choose.
Different Credit Repair Companies in Tulsa: Understanding the Three Types
There are numerous credit repair and financial service companies throughout the United States, with over 1 million currently active. While this presents you with a wide range of options, it can also make it difficult to distinguish experienced companies from those with less experience. To help clarify how credit repair works, it is important to consider the three different types of credit repair companies available.
Flat Fee Companies
Only about 5% of companies operate using this structure, but it offers the quickest results and greatest savings. Flat-fee credit repair companies bill you only for the accounts they dispute and charge a one-time fee for their services. As a result, they have an incentive to complete your services as quickly as possible. These companies typically begin with a consultation to review your credit reports and determine if they can assist you before quoting you a price based on those accounts.
Monthly Fee Companies
Most credit repair companies charge monthly fees, but this model is often inefficient. Many companies fail to review your credit report adequately to determine if they can help you. Additionally, since they charge on a monthly basis, there is no urgency for them to quickly repair your credit. This means the Company may only dispute one or two items at a time, taking between 6 and 8 months to produce full results. Although initial fees may be lower, the accumulated costs can become expensive.
Pay-for-Delete Companies
While fewer companies offer this model, it is an appealing way to pay only for results. Essentially, you pay only for accounts that are removed. Unfortunately, the costs associated with many companies can be exorbitant. Many charge a set-up fee and then costly fees for each account they remove. In some cases, an account that reports to all three credit bureaus is counted as three items, leading to high costs.
In conclusion, it is recommended that you choose a flat fee company for the best results. However, you should perform your own research to determine which model is best suited to your needs.
The Credit Repair Process in Tulsa
When it comes to credit repair, opinions, and advice abound, but some of it may be outdated or unhelpful. In my 15 years of experience, I have found that the process is constantly evolving, and regulatory and legal changes can challenge consumers' ability to dispute inaccuracies effectively. Credit reporting agencies often put procedures designed to prevent successful disputes. Therefore, it is crucial to stay up-to-date on changes to best serve clients.
Let's discuss the process in more detail. Initially, "not mine disputes" were a popular approach to disputing negative accounts, resulting in immediate success. However, issues arose when the accounts that had been deleted started to reappear after a secondary legal investigation, ultimately making it difficult to get results within the dispute process. As the credit reporting agencies refined their processes, it has become more challenging to remove negative accounts, limiting the effectiveness of traditional dispute tactics.
Instead, we recommend a more effective approach - contesting the validity of an account. It is within your legal right to request that a creditor or collection agency validate their account before taking any action. Requesting proof of account validity directly from data furnishers ensures that the account belongs to you and is accurate. If an error is discovered, you can provide evidence to have it corrected or deleted.
It is vital to know what type of documentation to request based on your specific loan. Contacting the lender or doing a Google search for required documents can clarify what documentation is necessary. We will soon post a blog with links to all the documents you may need.
In summary, staying up-to-date on the ever-evolving credit repair process and utilizing effective dispute tactics are essential to successfully repairing your credit in Tulsa.
Personal Finances are the Key to Sustainable Credit
The driving force behind our credit score is actually our personal finances. As a result, it makes perfect sense that millions of Americans struggle with credit issues. Your credit score is akin to the stock market; it fluctuates based on your financial status. Credit repair is a useful tool for fixing derogatory accounts, but it is not a comprehensive solution. To achieve sustainable credit, consumers must take control of their personal finances. In fact, credit repair alone won't get you there. You need to pay down revolving credit balances, pay all accounts on time and minimize credit card usage. Fixing your financial deficit to obtain lasting credit sustainability that will withstand any recession or job loss is crucial. By fixing your finances, your credit score will follow suit, and you will suffer fewer significant depreciations in your overall credit scores.
Break the Endless Credit Repair Cycle
Credit repair is often an endless cycle, and ‘repeat’ clients are a significant issue in the industry. After helping them improve their credit in six months, many clients come back seeking more credit repair. This situation occurs when individuals do not take their financial situation seriously and allocate their money solely to credit repair. Instead of seeking credit repair, it's best to use the paycheck to reduce balances and maintain them at low levels. It's possible to fix your credit and work on your finances together; however, most individuals cannot achieve it due to a lack of finances. The key is to focus on getting your finances in line. Then, credit repair provides a long-term solution, allowing your credit to be fixed permanently. This is the most crucial advice for any client who genuinely wants to fix their credit for good.
Free Credit Repair in Tulsa
Frequently asked question in Tulsa: "Is there a way to fix my credit for free?" The answer is yes; you can fix your credit for free using self-help methods. The steps are detailed in multiple blogs but bear in mind that anything free usually comes at the cost of your time. You have the right to dispute your credit report at any time, but many people either lack the time or the resources to undertake the process. For those who prefer professional help, it's best to contact a reputable credit repair company. However, those willing to invest 2-4 hours per month can learn how to "Repair their credit like the pros" by checking out our blog posts.
Leave a Testimonial or Review
When I first started in the credit repair industry, I offered free credit repair to random people in exchange for testimonials and reviews. Although it cost me to send out their disputes, the value I received from their reviews greatly exceeded the small cost of credit repair. Many new credit repair companies may be willing to offer similar deals in exchange for reviews. To find these companies, search for "Credit Repair" Facebook groups, join them, and post a request for help in exchange for a detailed 5-star review. You may encounter some negative feedback, but locating someone to repair your credit for free should not be difficult.
Tips for Achieving Permanent Credit Repair
You have several essential actions available to you in order to achieve financial stability and improve your credit scores:
Conduct Thorough Research
In order to find the best credit repair company to help you fix your credit for good, it's important to engage in extensive research and reach out to several different providers. Though it can be time-consuming, doing this work in advance will ultimately ensure that you don't waste money or time on a company that won't be effective.
Focus on Personal Finances
Many people attribute their credit problems to external factors, failing to recognize that their own spending and savings habits are often to blame. Rather than turning to credit repair immediately, it's important to first develop more sound financial practices. This can be challenging work, but it is essential in order to set the stage for successful credit repair in the future.
Have Faith in the Process
Credit repair can be a transformative experience, but only if you commit to it with determination and patience. Though it requires effort on your part, it is a reliable and effective way to get your credit back on track and reclaim your financial freedom. Remember that the initial work you put into fixing your finances will ultimately lay the foundation for the success of any credit repair program.