The field of credit repair has earned a reputation similar to that of dentists, as no one relishes the idea of someone meddling with their finances. However, despite this aversion, credit repair companies are alarmingly ubiquitous, with the number of such businesses exploding in recent years. As someone who has operated a successful credit repair company for over a decade and a half, I am well aware of the criticisms leveled at the industry, many of which are merited.Unfortunately, bad credit is becoming increasingly common, and the proliferation of credit repair companies is evidence of this trend. With such a plethora of options available to consumers, it is crucial to exercise caution and thoroughly research any credit repair company before engaging in their services.As someone who has helped over 20,000 individuals repair their credit and improve their lives, I feel a sense of obligation to give back to the community and provide clarity regarding the workings of the credit repair industry. I aim to equip consumers with the knowledge to make informed decisions when selecting a credit repair company.
Table of Contents
How to Find the Best Credit Repair Companies in Washington
What Sets Credit Repair Companies Apart in Washington?
The Credit Repair Process Washington
The Importance of Personal Finances in Credit Sustainability
Free Credit Repair in Washington
Tips on Finding the Best Credit Repair Company
How to Find the Best Credit Repair Companies in Washington
If you're looking for the best credit repair company, it's important to do your research and due diligence. While online reviews can be helpful, they're not always legitimate. Here's what you can do to determine the best credit repair company in Washington:
Make a List
Conduct a quick Google search for companies in your area that have a good Google review rating and are close to your home. Only list companies that have a good online presence and reputation.
Reputation
Ensure that the companies you list have enough reviews to make you feel satisfied, but ensure to scan through them to make sure they're legitimate and accurate. You don't want to be tricked by fake Google reviews.
Make the Call
After your list is shortlisted, it's time to call the company for clarification. Most credit repair companies do not answer the phone during business hours, which can be a sign of their ability to handle your business. When calling, ask questions like:
A. How long have you been in business? Are you unlicensed and bonded? If so, can I see a copy of your bond?B. Do you have a physical office where I can come in and meet you and the team?C. Do you offer a free consultation?D. Do you offer a money-back guarantee?E. What's your fee structure like? Do you charge a flat fee for your services, or do you charge me monthly?F. How long does the average process take?
Asking these questions will allow you to analyze and decide which company is most effective and least expensive for your credit repair needs.
What Sets Credit Repair Companies Apart in Washington?
There are over 1 million active credit repair and financial service companies in the United States, including Washington. While having a wide variety of options can aid in selective decision-making, choosing the right credit repair company becomes dicey, ascertaining experienced from the non-experienced ones. To facilitate a deeper understanding of how credit repair commissions, let's take a closer look at the three different types of credit repair companies which exist:
Flat fee companies
Flat-fee credit repair firms constitute only about 5% of the market. Nevertheless, this model presents a rapid, cost-effective solution to getting significant results. Generally, flat fee companies only charge for services that they dispute, and they bill you one fee for that service. Consequently, most flat fee services are swifter, incentivized to complete the services within the shortest possible period. Consulting with the credit repair company, they examine your credit reports for flaws, quote you a price based on those accounts, and professionally dispute them to correct errors.
When I established myself in the credit repair industry, I conversed with various loan officers who recommended this structure because it enables clients to obtain pre-approvals more efficiently. As a result, I incorporated flat fee services into my business model, which has allowed me to help a considerable number of people.
Monthly fee companies
Credit repair companies that use monthly fees remain the most common, but this model has not proven efficient. These firms, in most cases, do not review your credit report; hence, it is not logical to ascertain whether they can fix your credit problems. Also, this structure does not support the speedy resolution of credit issues because the longer one stays on the program, the longer they keep collecting fees. Monthly fee companies typically dispute a few items at a time, implying that removing 10 negative accounts could take six-eight months, which could become expensive as fees could add up over the long term.
Pay for Delete
Pay for Delete offers an intriguing and enticing way to repair credit, but fewer companies utilize this model. With this model, you pay exclusively for results, motivating the credit repair company to perform at its best. While this model is impressive for many, people often fail to understand what they get into until it's too late. Some Pay for Delete companies charge you high fees for each item removed so that if an account is reporting to all three credit bureaus, it is deemed three different items. Thus, a fair sum of money might be spent attempting to remove a single account from all three credit reports.
Overall, I recommend choosing a flat-fee company for its cost-effective structure. However, I encourage you to research and calculate on your own to make the best decision for yourself.
The Credit Repair Process Washington
Different people have different opinions about credit repair and its process. Unfortunately, much of the advice available out there is either outdated or not helpful. Having worked in the industry for 15 years, I can confirm that credit repair is not complicated, but credit reporting agencies are always trying to outsmart consumers by putting processes and procedures in place. They aim to limit our ability to control our disputes and lead us to use online platforms. As regulations and law changes add to the mix, developments are constantly being made in the credit repair process, and we keep up providing our clients with the best results.The Not Mine Disputes process became famous in 2015. People were successful in disputing their negative and derogatory accounts, which they claimed were not theirs. The credit reporting agencies flagged these accounts as "fraud,†and no investigation was conducted. However, after a legal reinvestigation process took place, deleted accounts reappeared, causing turmoil. The credit reporting agencies created more refined processes, such as e-OSCAR, which made it hard for people to achieve results through the dispute process. Today, those who are not using new and unique dispute tactics will likely struggle with correcting or deleting items from their credit report.The new and effective credit repair process that I will explain has been around and is not a secret. However, most people do not understand the steps necessary to use it effectively. You have the right to contest the validity of any account on your credit report. Rather than only disputing errors on your credit report, it is wise to ask that the data furnisher, i.e., creditor or collection agency, provide proof of the account's validity. Upon determining any error on the account or the reporting of the account, you should use any proof to respond and state what the error is and request it be fixed or deleted.The account documentation you should ask for depends on the authorized original loan. Suppose you are unsure of what documents to request. In that case, I advise you to call as a non-customer and ask what documents are required to be submitted or signed to authorize a new loan. You can also use a quick Google search for more information. I will soon post the link to a quick blog on this topic on this page, giving you access to all the documents you can request, so stay tuned.
The Importance of Personal Finances in Credit Sustainability
1. Personal Finances Drive Credit Scores: Your personal finances are the main factor that drives your credit score, which explains why so many Americans have credit issues.
2. Credit Repair is Only Part of the Solution: Credit repair is just one tool used to fix derogatory accounts on your credit report - it's not a complete solution.
3. Sustainable Credit Requires Control of Personal Finances: Sustainable credit requires keeping your personal finances under control, meaning that your credit score remains constant regardless of any economic changes.
4. Prioritize Personal Finances: Before investing in credit repair, prioritize paying down revolving credit balances, paying all accounts on time, and reducing credit card usage.
5. Avoid Endless Credit Repair Cycles: The endless cycle of repeat credit repair happens when money is continually poured into credit repair without addressing the root cause - financial mismanagement. Therefore, it's crucial to prioritize your finances to ensure credit sustainability.
Free Credit Repair in Washington
Many people often ask if there is a way to fix their credit score for free. The answer is yes; you can repair your credit on your own without paying anything except for the cost of paper and postage. However, it's important to note that repairing your credit can be time-consuming, despite the multiple blogs that exist on how to do it yourself. While disputing your credit report is a legal right, most people either lack the motivation to put in the work or simply don't have the time. In such cases, it may be worthwhile to consider hiring a professional credit repair company to manage the process. However, if you're serious about dedicating a couple of hours a month to fixing your credit, you can check out our blog post titled "Repair Your Credit Like the Pros."One possible option to get free credit repair in Washington is to offer a testimonial or review in exchange for the service. This is a technique that many newer credit repair companies may be willing to use, just as we once did. To find such companies, you can join "Credit Repair" Facebook groups and post a request for assistance in exchange for a detailed 5-star review. Though there may be some skeptics, you should have no problem finding a company willing to repair your credit for free.
Tips on Finding the Best Credit Repair Company
1. Conduct thorough research in your quest for the right credit repair company that will help to solve your credit problems permanently.
2. The research can be quite demanding, but it's crucial in avoiding a waste of resources, making certain that your investment in a credit repair service is worthwhile.
3. Focus also on your personal finances, which, more often than not, is the root cause of poor credit reports.
4. You must ditch the habit of squandering your money and increase your savings. That way, you can maintain good credit reports and cease blaming credit repair services for issues that emanate entirely from your poor financial management.
5. Credit repair measures invariably work, as evidenced by over 20,000 clients whose lives have changed after successful credit repair services.
6. However, you play a vital role in the ultimate success of the process. It starts with you managing your finances to put yourself in the best position for effective credit repair services.
7. So don't give up hope - With proper guidance offered by the best credit repair companies, you can put your finances in top order and look forward to a financially secure future.