Regrettably, credit repair carries a reputation comparable to that of a dental visit; nobody really wants anyone messing with them, and they hate being forced to deal with it. However, the credit repair industry has exploded in the past few years, with seemingly a credit repair company on every corner, making it easy for anyone with a pulse and a gift of persuasion to start their own. As someone who has spent 15 years in the credit repair industry and oversees one of the largest credit repair companies in the nation, I understand all too well the skepticism our industry faces, and it is not unfounded.The epidemic of bad credit is growing at a staggering pace, with the influx of credit repair companies over the past year alone demonstrating the growing number of options available to consumers. As a result, you must do significant due diligence to ensure you do not fall victim to unscrupulous companies.As the proud owner of a credit repair company, I have had the privilege of serving over 20,000 individuals and empowering them to change their lives. As a way of giving back, I want to provide transparency and clarity on how our industry works and offer valuable tools to help you make the best decision when hiring a credit repair company.
Table of Contents
How to Find the Best Credit Repair Company in Roseville
Different Types of Credit Repair Companies in Roseville, California
The credit repair process in Roseville
Credit Repair is Only a Part of the Solution to Personal Credit
Free Credit Repair Services in Roseville
Tips for Improving Your Credit Score
How to Find the Best Credit Repair Company in Roseville
If you're looking for a credit repair company, you may be wondering who the best choice is. Although I'd love to promote my own company, I always suggest that people should do their research. Relying on online reviews can be misleading as not all of them are genuine. It's better to do your due diligence and check out the company's website and ask questions via the telephone. Here are some tips that will help you find the best credit repair company:
Make a list of candidates
Start with a Google search for credit repair companies in your area. Look for businesses that have a good reputation and rate well on Google Reviews. Consider companies that are close by for added peace of mind.
Check their reputation and online presence
Once you've created a list of possible candidates, check out the age of their websites. Established companies should have a website that's been online for at least three years. Look for companies that have plenty of genuine and up-to-date reviews.
Call them for more information
Contact the companies on your list and ask them questions like:
A. How long have you been in business? Are you unlicensed and bonded?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? Monthly or flat fee basis?F. How long does the average process take?
These questions are designed to help you make an informed decision about which company will best meet your needs.
Different Types of Credit Repair Companies in Roseville, California
There are more than 1 million active financial and credit repair service companies in the United States. While having plenty of options to choose from gives you more discretion as to who you want to work with, it also poses a problem in terms of differentiating experienced and non-experienced companies. To help you gain a better understanding of how credit repair works, it’s important to recognize the three different types of credit repair companies that you might encounter in Roseville, California.
Flat fee Companies
Flat fee credit repair companies typically operate by charging you for the accounts they dispute, and you pay a one-time fee for their services. This method is the best way to save money and get the quickest results. Most flat fee services are usually faster because they have an incentive to get your services completed in the quickest amount of time. By looking over your credit reports, a consultation is run to determine if the credit repair company can help you out, and then a price is quoted based on those accounts. Only around 5% of companies operate like this.
Monthly fee Companies
Most credit repair companies charge a monthly fee, but this model is inefficient to a large extent. Most companies that use this method do not ever look over your credit report, so it is hard to determine if they can assist you or not. Although monthly fee companies may be cheaper upfront, the fees can add up over time, making this model expensive. Also, the credit repair company is usually only disputing a few items at a time, which can take six to eight months to get full results.
Pay for Delete
Pay-for-delete credit repair companies are less common, but they offer payment methods that will incentivize them to perform and deliver the desired results. With this model, you only pay when you get the results you want. However, it can get expensive because companies may charge a setup fee and a per-item fee for every negative account removed. Therefore, it is essential to ask for the fee structure and inquire about cost details when making a choice.
In summary, while we advocate for flat fee companies, we recommend that you research and evaluate the three options based on what works best for you.
The credit repair process in Roseville
The credit repair process can be confusing and overwhelming, especially with the plethora of information available online, much of which may be outdated or simply not useful. Having spent 15 years in the industry, the speaker can attest to the constantly changing nature of credit repair, complicated further by regular addenda to the law and regulations governing the industry. Credit reporting agencies are known to devise procedures that make it difficult for consumers to dispute negative accounts effectively, instead directing them to an online platform with limited dispute control. Staying current on all these changes is crucial to achieving the best outcomes for clients.
Let's talk about the process
In 2015, the "not mine disputes" approach to disputing negative accounts became popular, and while it frequently yielded immediate results, an investigation process undertaken by credit reporting agencies often resulted in these accounts reappearing within a few months. To combat these tactics, the agencies introduced e-OSCAR to filter out inaccurate and frivolous dispute letters, effectively hindering people's ability to receive tangible results. Nowadays, fresh and inventive dispute tactics are vital to achieving favorable outcomes.
The new, effective credit repair process
The credit repair process described here follows a non-secret legal approach that is often misunderstood or underutilized. As a consumer, you are within your legal rights to question the legitimacy of any account on your credit report by requesting account validation. Essentially, this entails asking for evidence confirming the account belongs to you and is legitimate. So instead of simply disputing errors on your credit report, also request that the data furnisher (collection agency or creditor) provide the necessary proof of account. If the proof demonstrates an error or suggests incorrect reportage, then respond with the necessary proof and an explanation of the error, questioning either correction or deletion of the account.
What account documentation should I ask for?
Depending on the loan authorized, specific documentation may be required, and gathering this information can be achieved through an internet search or through contacting the data furnisher and enquiring what documentation is necessary for them to approve a new loan. In response to consumer queries, a blog will soon be published with a list of all the diverse account documentation that can be requested.
Credit Repair is Only a Part of the Solution to Personal Credit
Your personal finances are the driving force behind your credit score, and it is imperative to focus on improving your personal finances before attempting any credit repair. This is because credit scores fluctuate based on one's financial situation, much like the stock market. While credit repair can help fix derogatory accounts on your credit report, it is only one tool of many and not an ultimate solution. If you want sustainable credit, meaning that your credit strength stays the same regardless of any financial hardships such as recessions or job loss, you must take full control over your personal finances. It is vital to prioritize your personal finances and pay down revolving credit balances, pay accounts on time, and halt credit card use. While having a small balance on a credit card can avoid account closure, be cautious not to use the card excessively. Fixing any deficits in your financial situation is the proper solution to establish credit sustainability. Focusing on financial management is crucial to improve credit scores and avoiding the endless cycle of credit repair. Without fixing your financial situation, credit repair becomes an endless cycle with repeated clients. It is highly recommended to get financials in order and pay down balances before investing in credit repair. While it is possible to improve credit and finances simultaneously, most people do not have the available finances. Focusing on getting finances in line ensures that when credit is fixed, it is fixed for good.
Free Credit Repair Services in Roseville
The question of whether you can repair your credit for free often comes up. The truth is, you can do it at no cost, apart from the cost of paper and postage, by undertaking the services on your own. I have written several blogs outlining the steps to restore your credit like a pro, but keep in mind that free services typically come with a significant "time" price tag. While you have the legal right to dispute your credit report, most people are either unwilling to put in the effort or do not have the time. If you don't want to do the work yourself, I highly recommend hiring a reputable credit repair company to do it for you. However, if you're interested in spending about 2-4 hours a month to dispute your credit report for free, check out my blog post titled "Repair your credit like the pros."Another strategy I used at the beginning of my credit repair business was offering free credit repair in exchange for a testimonial or review. When I started doing credit repair in the early 2000s, I had no testimonials or reviews, so I fixed people's credit in exchange for an endorsement, and they received free credit repair services. While I had to pay to send out their disputes, the overall value of the review I received was considerably more significant than the small cost of doing credit repair. Similarly, many of the newer credit repair businesses would be willing to offer the same deal as I used to do. My recommendation is to join "Credit Repair" Facebook groups and post a simple message like this one:"I'm looking for a new credit repair business owner in Roseville who would be willing to help me with some credit concerns in exchange for an outstandingly comprehensive 5-star review."You may encounter some critics, but finding someone to do your credit repair for free should not be a concern.
Tips for Improving Your Credit Score
Conduct thorough research before choosing a credit repair company to ensure that the one you select can help you regain your creditworthiness permanently. This may take a significant amount of time and effort, but it is essential to avoid wasting your time and money.
Work on your personal finances because they are often the root cause of credit problems. Instead of relying solely on credit repair services, which can be ineffective if bad spending habits continue, focus on developing good financial habits.
Don't blame credit repair services for your credit troubles if your poor spending and saving habits are the real culprits. Credit repair works, as evidenced by the thousands of my former clients who have had their lives transformed by it. To make credit repair work for you, take ownership of your finances and make the necessary changes to improve your credit score permanently.
Don't give up hope; it's possible to improve your credit score. Just remember that it all starts with you, so take control of your finances and make the necessary changes to achieve your financial goals.