Regrettably, credit repair has become a profession that is dreaded, like visiting the dentist. No one fancies the idea of someone meddling with their credit, and they absolutely detest having to deal with credit repair companies. The worst part is the credit repair industry is highly saturated, and literally anyone with the ability to persuade can open a credit repair company. In essence, credit repair companies are as common as McDonald’s; you can find one on almost every street corner.As a veteran in the credit repair industry for 15 years and the proprietor of one of the biggest credit repair companies in the country, I am cognizant of the negative perception that our industry receives. The bitter truth is that most of these assumptions are accurate.Bad credit has become an epidemic that is continuously worsening. The mushrooming of credit repair companies over the past year is a clear indication that there are so many options for credit repair, and as a potential client, it is crucial that you conduct extensive research to ensure that you don’t fall victim to unscrupulous entities.In my capacity as a credit repair business owner, I have had the privilege of serving over 20,000 people and transforming their lives. As a way of giving back, I would like to provide you with a clear understanding of how our industry works and equip you with the necessary knowledge to make an informed decision when selecting a credit repair company.
Table of Contents
How to Find the Best Credit Repair Company in MesquiteDifferent credit repair options in Mesquite, TX
The Credit Repair Process in Mesquite
Personal Finances Drive Credit Score
Free Credit Repair in Mesquite, TX
Tips for Improving Your Credit Score
How to Find the Best Credit Repair Company in Mesquite
When people ask me who the best credit repair company is, I advise them to conduct their own research and due diligence instead of selling my company. While online reviews can help you narrow down your search, not all reviews are reliable. If you want to opt for a local credit repair company, start by doing a Google search and creating a list of the top-rated options near you. Once you have a list, keep the following things in mind:
Reputation
Only consider companies with a strong online reputation and established websites. Review their Google reviews to ensure that the reviews are legitimate.
Make the call
Once you have a shorter list, start calling the companies. Ask important questions such as how long they've been in business, if they have a physical office if they provide a free consultation, if they offer a money-back guarantee, and their fee structure.By asking these questions, you can determine the most effective but least expensive credit repair company. Remember to conduct thorough research to make the best decision for your needs in Mesquite.
Different credit repair options in Mesquite, TX
The United States has an overwhelming number of active credit repair and financial service companies, over one million of them! With so many options, you have the ability to be selective in choosing which company to work with, but it can also be difficult to differentiate between experienced and inexperienced ones. In this article, we will examine the three types of credit repair companies that you will typically find in Mesquite.
Flat fee companies
Flat fee credit repair companies are the best option for fast results and cost savings. Only about 5% of companies operate under this structure, but they bill clients only for the accounts that are disputed, and you pay a one-time fee for their service. These types of companies are usually quicker in completing their services because of their incentive to finish them as soon as possible. They first consult with you, looking over your credit reports to see if they can help you, and then provide you with a price quote based on those accounts. Such companies are favored by mortgage companies in Mesquite because they provide a quick turnaround, which, in turn, helps clients to get pre-approved faster.
Monthly fee companies
The majority of credit repair companies operate under the monthly fee model, which is not as efficient. Most of these companies do not examine your credit report, so it is unclear how they determine if they can help you. This structure does not fit all types of clients. Monthly fee companies, in general, tend to take longer to complete the credit repair process because they dispute only a few accounts at a time. In cases where you have ten negative accounts, it could take them six to eight months to get that process done, costing you more in fees – these fees can add up over time.
Pay for delete
Although fewer companies use this model, it offers a more enticing way to pay for credit repair. You pay only for the results, putting pressure on the credit repair company to deliver. However, most Pay for Delete companies are tricky because they charge a lot for each item removed. For instance, a company may charge you $299 as a setup fee (non-refundable) and $75 per item removed. If an account reports to all three credit bureaus, it is considered as three items, and you will have to pay $524 to get that account removed from all three credit reports. Before choosing this model, you must ask the company how much it would cost if they removed all your accounts from your credit reports.Even though a flat fee company is highly recommended, it's important to research and calculate different credit repair options before making any decisions.
The Credit Repair Process in Mesquite
The process of credit repair can vary based on who you ask. There is a lot of advice available, but much of it is outdated or not effective. Through 15 years of experience, I have perfected the process that is ever-evolving due to changing regulations and laws. Credit reporting agencies are always trying to outsmart consumers by putting in place procedures and processes to limit effective dispute methods and drive them toward online platforms. We keep up with these changes to ensure the best results for our clients.
Understanding the Process
When credit repair became popular in 2015, the “not mine disputes†process was often used, which would dispute all negative and derogatory accounts and lead to immediate results. However, credit reporting agencies developed e-OSCAR to filter out inaccurate dispute letters, making it hard for people to achieve results within the dispute process. Today, using unique dispute tactics is essential to achieve desired deletions or corrections to credit reports.
An Effective Credit Repair Process
It's crucial to contest the validity of any account on your credit report, which you can legally do. Instead of just disputing errors, request that the data furnisher provide proof of the account's validity. If there is an error on the account, respond with proof and request that it be fixed or deleted. Asking for original signed documents or payment ledgers showing all transactions made on the account are just some ways to validate an account.
What Documentation to Ask for?
The documentation required depends on the authorized loan. A quick Google search or call as a non-customer can provide more information on what documents to request. Our blog will provide a comprehensive list of documents shortly, so stay tuned.
Personal Finances Drive Credit Score
When it comes to personal credit, what determines a credit score? Your personal finances, of course. This makes sense, given how many Americans struggle with credit issues. Your credit score fluctuates based on your financial situation, much like the stock market. While credit repair can help fix derogatory accounts on a credit report, it's not a standalone solution.
Prioritize Personal Finances
Improving your credit and maintaining a sustainable credit score requires prioritizing personal finances. Most people can't achieve sustainable credit because of their lack of financial control. Before seeking credit repair, pay down revolving credit balances, pay all accounts on time, and reduce credit card usage. Only keep a small balance on a credit card to avoid closure, and use it only for emergencies. Fixing your financial situation is the best solution to maintain credit sustainability and avoid large decreases in your credit score.
Breaking the Credit Repair Cycle
Credit repair is often a repeat cycle for many people, leading to frustration and wasted money. This cycle occurs when people prioritize credit repair over fixing their financial situation. Instead, focus on using your paycheck to pay down balances and keep them low. While it's possible to work on both financial and credit improvement simultaneously, prioritizing personal finances ensures a better chance of fixing credit for good.
Free Credit Repair in Mesquite, TX
Are you wondering if there's a way you can fix your credit in Mesquite, TX, without spending any money? The good news is that you can handle credit repair on your own for just the cost of paper and a stamp. As a credit repair expert, I've written blogs on how to repair credit like professionals but keep in mind that doing it yourself will require a significant investment of your time. Don't have the time? Then consider hiring a professional credit repair company to do it for you. That said if you're willing to commit around 2-4 hours of your time per month to dispute your credit report for free, check out my blog post on repairing your credit like a pro.
Consider sharing a testimonial or review.
When I was starting out in the credit repair industry, I would often offer free credit repair in exchange for a testimonial or review. Though it did cost me to send out their disputes, the return on investment from the reviews was invaluable. If you're interested in this approach, check out "Credit Repair" Facebook groups in Mesquite, TX, like and join them, and then create a post similar to this one: "I'm seeking a new credit repair business owner in Mesquite, TX who would be willing to assist me with some credit concerns in exchange for an incredibly detailed 5-star review." Although you may face some detractors, it should be easy to find someone to do your credit repair for free.
Tips for Improving Your Credit Score
Conduct extensive research before selecting a credit repair company to assist you in resolving credit issues permanently. Although this may consume a significant amount of time and energy, it is critical to ensure you don't waste your resources.
Apart from hiring a credit repair company, you must work on your personal finances as well. Poor spending and saving habits are the primary cause of poor credit ratings; therefore, improving your money management skills is crucial. Many people waste their earnings attempting to solve previous financial issues, only to claim that credit repair is ineffective or a scam.
Credit repair can work if done correctly, and it has transformed the lives of thousands of individuals. If you want the best results, start with yourself by managing your personal finances effectively. Remember that it may take a while to repair your credit, but don't lose hope.