Like dentists, credit repair also has a notorious reputation among people. They don't really want anyone to meddle with their finances and avoid dealing with them as much as possible. Unfortunately, the ease of opening a credit repair company has led to its proliferation, making it as ubiquitous as McDonald's. As someone who has been working in the industry for 15 years now and manages one of the largest credit repair companies in the nation, I fully understand the skepticism that surrounds our business. Much of what people say about us is true.
Bad credit is a serious problem, and its effects are only worsening. The proliferation of credit repair companies in recent times demonstrates the significant demand for our services. But it also underscores the need for consumers to thoroughly research and vet potential credit repair companies to avoid being scammed.
As a credit repair business owner who has aided over 20,000 people in improving their credit scores and financial standing, I want to give back by providing more transparency and clarity about our industry. I also aim to give you the necessary tools to make an informed decision when hiring a credit repair company.
Contents:
How to Choose the Best Credit Repair Company in St. George
Different Types of Credit Repair Companies in St. George: Which One Should You Choose?
The Credit Repair Process in St. George
Personal Finances are Key to Sustainable Credit
Free Credit Repair Services in St. George
Advice for Improving Your Credit
How to Choose the Best Credit Repair Company in St. George
When asked about the best credit repair company, I always advise doing due diligence and research on your own. While online reviews can provide helpful insights, they may not always be genuine. Instead, I recommend making a list of potential companies based on their online reputation and proximity to your location. To ensure you're working with a reliable and established company, check their website history on https://archive.org/web/ and double-check their reviews. Once you have a shorter list of candidates, calling them is the most important step. Ask questions to clarify their experience, licensing, office location, consultation fees, and refund policies to make well-informed decisions. In the next section, we will explore what factors contribute to the most effective and affordable credit repair company.
Here are the steps to follow:
1. Make a list of credit repair companies in your area with a good Google review rating and are close to your home.
2. Check their website history on https://archive.org/web/ to ensure they have been established for at least three years.
3. Go through their reviews to ascertain their legitimacy.
4. Call the remaining companies and ask important questions to clarify the type of business you will be working with.
These steps will help you make the best decision when choosing a credit repair company in St. George.
Different Types of Credit Repair Companies in St. George: Which One Should You Choose?
The number of credit repair and financial service companies in the United States has reached over 1 million. There are many service providers to select, which means you can be selective. However, it also makes it difficult to distinguish the experienced from the non-experienced companies. To understand the credit repair process, here are the three types of credit repair companies you will find in St. George:
1. Flat Fee Companies
About 5% of credit repair companies operate with a flat fee structure. This structure is considered the best choice to get quick results and save money in the process. You will only pay for the accounts a flat fee that the company disputes, and the company will offer a one-time fee for the service. The process is usually quicker because the company is incentivized to complete your services in the shortest amount of time. Typically, these companies will first do a credit report review to determine if they can assist you, and then they'll provide a quote based on those accounts. Flat-fee companies do not prolong clients' ability to get pre-approved, which is why most loan officers prefer them.
2. Monthly Fee Companies
Most credit repair companies charge monthly fees. However, this model is inefficient because the companies that use it don't review your credit report. The credit repair company must review your credit report to determine if they can help you. This model can be expensive because the credit repair company is only disputing a few items at a time, which can take several months to get full results. The longer you're on a monthly fee program, the longer the company collects a fee from you.
3. Pay for Delete
Few companies offer this model, but it offers a more enticing way to pay for credit repair. You pay only for results, which puts pressure on the credit repair company to perform. However, most people don't realize that Pay for Delete companies charge a lot for each item removed, so it can be very expensive. It's important to ask to see the fee structure and ask the company directly what the fee would be if they removed all your accounts from your credit report.
Overall, a flat fee company structure is recommended, but it's important to do your own research and calculations to make the best decision for yourself.
The Credit Repair Process in St. George
The credit repair process varies depending on who you ask, and though there is an abundance of advice, much of it is outdated or flawed. Having worked in the industry for 15 years, I can attest that it involves trial and error and requires ongoing learning to keep up with the constantly evolving regulations and laws. It's important to understand that credit repair isn't complicated, but the credit reporting agencies try to outsmart consumers by implementing processes to limit their dispute process and drive them to an online platform. This means staying up to date with changes in the industry is essential for obtaining the best results for clients.
Understanding the Process
Disputing all negative and derogatory accounts, using a process called “not mine disputes,†was successful in early credit repair years. By forcing the credit reporting agencies to delete accounts flagged as “not mine,†clients saw immediate results. However, accounts removed would reappear in subsequent months. The credit reporting agencies created a more sophisticated process, including e-OSCAR, to remove inaccurate disputes. Therefore, new and unique dispute tactics are essential to achieve corrective and deletion results on credit reports.
The Effective Credit Repair Process
The legal right to contest any account's validity on a credit report is generally overlooked and misunderstood. Instead of solely disputing errors, request the data furnisher to validate the account by providing documentation, including the original signed documents or payment ledgers showing all transactions. Once an error has been identified, provide proof and request either a fix or deletion. Those unsure of the account documentation required can find out by calling as a non-customer or doing a quick Google search. Stay tuned for my blog post on the types of documents you can request.
Personal Finances are Key to Sustainable Credit
It's no secret that personal finances ultimately drive credit scores, which is why millions of Americans struggle with credit issues every day. Credit repair is just one tool in the kit to address derogatory accounts on your credit report, but it's not a holistic solution on its own. To achieve sustainable credit, you need to have better control over your personal finances and make them a top priority.
Steps to Achieving Sustainable Credit
Before you start investing in credit repair, pay down your revolving credit balances and make sure to pay your accounts on time. Limit your credit card usage to emergencies only and keep a small balance of $1 to $10 on the card to avoid account closure. Fixing your financial situation is key to building sustainable credit, and once you begin to get your finances in check, your credit score will improve naturally over time.
Breaking the Endless Credit Repair Cycle
Credit repair becomes an endless cycle if you only focus on repairing your credit without fixing your financial situation. "Repeat" clients are all too common in the industry, coming back for more credit repair every six months. Instead of investing all your money into credit repair, use your paycheck to pay down your balances and focus on getting your finances in order. That way, when your credit is finally fixed, it will stay that way for good.
Free Credit Repair Services in St. George
Credit repair can be done for free using a tested and proven DIY method. Most people would like to know if it's possible to fix their credit without spending a dime. Well, it's possible. With just a few dollars for paper and a stamp, you can effectively dispute errors in your credit report. However, free credit repair requires a significant investment in time. You need to be willing to commit a reasonable number of hours to the task. In case you don't have that kind of time, you may want to consider a professional credit repair company that will do the work for you at a cost. To get started, we recommend visiting our website for a step-by-step guide on repairing your credit like a pro.
Leave a Testimonial or Review and Get Free Credit Repair Services
When it comes to credit repair, testimonials and reviews are essential. If you're one of the many people looking to repair their credit, you may want to take advantage of this tip. At our agency, we once offered free credit repair services in exchange for testimonials and reviews. If you're looking for a credit repair business owner who can help alleviate your credit concerns in exchange for a detailed, five-star review, you can easily find one on Facebook groups dedicated to credit repair. A simple post asking for help in return for a review should attract someone willing to do your credit repair for free. You may run into some critics, but with a bit of perseverance, you'll surely find the right person to help you fix your credit for free.
Advice for Improving Your Credit
1. Conduct thorough research before choosing a credit repair company to help improve your credit status. By doing so, you can ensure that you are not wasting your time or money.
2. Instead of only relying on credit repair services, focus on getting your personal finances in order, which often causes credit problems in the first place. Irresponsible spending and lack of savings can prevent keeping your credit score healthy even after it has been repaired.
3. Credit repair is an effective solution, as proven by over twenty thousand successful cases of my clients. But, it requires some effort from you too. By getting control of your finances, you can ensure that credit repair can be an easier and more permanent solution for you.
4. So, don't give up! With patience and determination, you can turn things around and achieve a good credit score. Start by taking responsibility for your financial situation, and seek professional help if necessary.