Like the dental industry, credit repair has a reputation that most people would rather avoid and have nothing to do with. Unfortunately, anyone who can persuade and has a heartbeat can enter the credit repair industry, making it as ubiquitous as McDonald's. As someone who has been involved in the credit repair sector for 15 years and now runs one of the largest repair companies in the country, I am no stranger to the skepticism that surrounds our industry. Frankly, much of it is warranted.
Bad credit is becoming an increasingly widespread problem in society, and it's only worsening. The sheer number of credit repair companies that have popped up in the last year alone indicates the many options available to consumers. As a result, it's up to you to do thorough research and ensure you don't become a victim of a predatory credit repair firm.
As a credit repair business owner, I've been fortunate enough to assist over 20,000 individuals and positively transform their lives. As a way of giving back, I want to demystify our industry and share insights that will empower you to make the best decisions when hiring a credit repair company.
Table of Contents
How to Find the Best Credit Repair Company in Amarillo
Different Credit Repair Companies in Amarillo, TX: Understanding the Differences
The Credit Repair Process in Amarillo
Importance of Personal Finances in Credit Repair
Free Credit Restoration Services in Amarillo
Final Recommendation
How to Find the Best Credit Repair Company in Amarillo
When people ask me who the best credit repair company is, I never suggest my own. Instead, I advise them to do their own research and exercise due diligence to determine their ideal company. While online reviews can be telling, not all of them are reliable. In the past 15 years, I have understood that persuasion is far less valuable than research when choosing a good credit repair company. Therefore, I have compiled a list of essential steps you should follow to select the best credit repair company in Amarillo.
Create a list
Start by doing a quick Google search for credit repair companies in Amarillo and making a list of companies with positive ratings and proximity to your home. While it’s not mandatory to use only local companies, choosing a local credit repair company that you can easily visit provides extra security.
Consider reputation
Be sure to include in your list only those companies with a good online presence and reputation. With the number of fly-by-night credit repair companies out there, this may require some sifting. An established company will usually have a website that’s been online for at least three years. Verify this by checking when their website was first established using https://archive.org/web/.
Make a call
After narrowing down your list, it’s time to make some calls. Asking questions will give you clarity on which company is right for you. For instance, you can ask about their years of experience, if they are licensed and bonded, if they have a physical office, if they provide a free consultation, offer a money-back guarantee, and what their fee structure is. This will help you analyze and select the most effective but least expensive company.
By following these steps, you should be able to find the best credit repair company in Amarillo.
Different Credit Repair Companies in Amarillo, TX: Understanding the Differences
In the United States, there are over a million active credit repair and financial service companies to choose from, making it challenging to identify which ones have experience and which ones don't. To gain a better understanding of credit repair, let's examine the three different types of credit repair companies you will come across in Amarillo.
Flat fee companies
Flat Fees credit repair companies typically charge you a one-time fee for the accounts they dispute. Generally, they are faster because they have an incentive to complete the services expeditiously. They begin with a consultation, where they check your credit reports and determine if they can assist you. Then, they provide a quote based on those accounts. Only around 5% of companies function under this structure, making it an excellent way to get results quickly and save some money in the process.
Monthly fee companies
The majority of credit repair companies charge monthly fees. Companies that use this model do not assess your credit report, making me question how they identify which items to work on. Also, this model lacks incentives to repair your credit quickly. The longer you pay for the program, the longer they continue to collect fees from you. Also, since they work on a few items, it can take several months or years to see full results. Indeed, you will be paying less out of pocket each month, but the fees can add up over time, making this model more expensive.
Pay for Delete
Fewer companies offer Pay for Delete services, which means you only pay for results. This model puts pressure on the company to perform. While it's an interesting and appealing way to pay for credit repair, it's essential to know what you're getting into first. Most Pay-for-Delete companies charge an excessive amount for each item removed, which can become costly over time. It's crucial to ask the company to see the fee structure and find out how much the fee will be if all accounts are removed from your credit report.
In my experience, I will always suggest a flat fee company because it's the best option, but it's necessary to conduct your research to make the best choice for yourself. When I started in the credit repair industry, I structured my business model after the flat style. Interestingly, most loan officers I spoke to preferred this model because it didn't hinder their client's ability to get pre-approved. It has allowed me to serve many individuals in Amarillo more effectively.
The Credit Repair Process in Amarillo
When it comes to credit repair, you may receive different advice on the process depending on who you ask. However, much of the information out there is outdated or not helpful. As someone who has worked in the industry for 15 years, I can attest to the fact that the credit repair process is always changing. Moreover, credit reporting agencies will use tactics to limit your ability to effectively dispute inaccuracies on your credit report. Therefore, to provide top-notch service to our clients, we stay up-to-date with industry changes.
Let's discuss the credit repair process
A few years ago, disputing negative accounts under "not mine disputes" worked for many entering credit repair. However, the credit reporting agencies soon developed more advanced processes to weed out frivolous claims, making it challenging for people to get results. But there's no reason to despair because the effective approach to disputing has always been available; most people just don't understand the steps. You can contest the validity of any account on your credit report, which means you can ask for proof that the account is both yours and valid. Rather than solely disputing errors, you can ask the data furnisher to provide documentation that proves the account's legitimacy. If you discover an error, you can then use any proof you have to request that the error be corrected or deleted.
What account documentation do I need to request?
The documentation required depends on the loan that was authorized. If you're unsure of what documents to ask for, you can call the creditor or collection agency as a non-customer to inquire about the necessary paperwork. Conducting a Google search can also yield helpful information. Soon, I will post a blog with links to all the necessary documents on this page, so stay tuned.
Importance of Personal Finances in Credit Repair
Your personal finances are the foundation of your credit score and credit report. Your credit score fluctuates based on your spending and payment habits.
Credit repair is only one tool to fix derogatory accounts on your credit report. It is not a comprehensive solution to credit sustainability.
To achieve sustainable credit, you need to prioritize your personal finances. Pay down any revolving credit balances, pay all of your accounts on time, and limit credit card usage.
Fixing your financial deficit is the best solution for credit sustainability. If you can get your finances in line, then your credit scores will follow suit, and you will experience fewer drops in credit scores.
An endless cycle of credit repair is common when clients focus solely on repairing their credit without addressing their financial situation. Focus on getting your finances in line to achieve sustainable credit.
Free Credit Restoration Services in Amarillo
Many people wonder if they can repair their credit for free. The answer is yes, but it will require time and effort. Fortunately, I have written several blogs detailing the steps to fixing your credit like a professional. Nevertheless, the time and energy costs of repairing your own credit cannot be ignored. You have a legal right to dispute your credit report yourself, but it may be overwhelming for some people. For those who do not have the time or inclination to take on this task, I highly recommend seeking professional credit repair services. On the other hand, if you are willing to invest 2-4 hours a month in disputing your credit report, check out my blog post on "Repair your credit like the pros."
Leave a Testimonial or Review
When I began working in the credit repair industry, I offered free credit restoration services to individuals in exchange for a testimonial or review. By doing this, I was able to establish my reputation and attract more clients. You, too, can try this approach by searching for "Credit Repair" Facebook groups in Amarillo. Simply post a message that reads:
“I’m looking for a new credit repair business owner in Amarillo who would be willing to assist me with some credit concerns in exchange for a detailed 5-star review.â€
Although you may encounter some negative comments, someone will likely offer to repair your credit for free. Remember, the value of a positive review far outweighs the cost of providing free credit repair services.
Final Recommendation
Before seeking assistance from a credit repair company, conduct thorough research to find the best company to resolve your credit issues permanently. However, do not overlook evaluating your personal financial status, as it is often the underlying problem. Many individuals waste money on repairing their credit without focusing on improving their spending and saving habits. Consequently, they falsely claim that credit repair is a scam. In reality, credit repair is a viable solution that can transform your life, as it has done for over 20,000 of my clients. Take charge of your finances and allow credit repair to help you achieve permanent results. Remember, perseverance is key!