Regrettably, credit repair often has a similar reputation to that of a dentist; people usually don't like the idea of someone meddling with their finances. It's unfortunate to say that anyone with the ability to persuade and a beating heart can start a credit repair company. Hence, credit repair organizations are now very similar to McDonald's, with franchisees on every street.
Having been a part of the credit repair industry for 15 years and managing one of the country's major credit repair companies, I can understand why we get so much criticism. Unfortunately, some of it is valid.
Poor credit is an epidemic, and it's rapidly worsening. The last year witnessed a substantial increase in the number of credit repair firms. As a result, consumers must exercise caution in their search for advisers to avoid being taken advantage of.
As a credit repair business owner, I've had the pleasure of serving over 20,000 individuals and improving their financial well-being. Consequently, I want to return the favor by imparting transparency and clarity into how our industry works. Furthermore, I'd like to empower consumers like you with the tools to make intelligent choices while hiring a credit repair company.
Table of Contents
How to Choose the Best Credit Repair Company in Phoenix
Different Credit Repair Options in Phoenix
The Credit Repair Process in Phoenix
Personal Credit: Credit Repair Alone is Not Enough
Free Credit Repair Services in Phoenix
Final Suggestion
How to Choose the Best Credit Repair Company in Phoenix
When people ask me for the best credit repair company in Phoenix, I don't immediately suggest my own. Rather, I encourage them to conduct their research and do their due diligence to find the right service for their unique needs. While online reviews can offer a good starting point, they're not always trustworthy. So, I've put together a handy list of steps you can take to identify the top credit repair companies in your area:
Make a List
Use Google to look for credit repair companies close to home with strong Google ratings. Ideally, you'll find one with an office nearby, making it easy for you to contact them whenever you need.
Check their Reputation
Reputable credit repair companies will have established websites with reviews and references you can verify. Visit https://archive.org/web/ to check how long a website has been online and scrutinize reviews for authenticity.
Phone Them Up
Narrow down your list based on your reputation investigations, and give the top companies a call during working hours. Ask some key questions to identify if they're suitable for you:
-How long have you been in business?
-Are you licensed and bonded? If so, can I see a copy of your bond?
-Do you have a physical office where I can arrange a meeting with you and your team?
-Do you offer a free consultation?
-Do you offer a Money-back Guarantee?
-What's your fee structure like? Do you charge a flat fee or monthly?
These six steps are essential for building your confidence when it comes to selecting the right credit repair company in Phoenix.
Different Credit Repair Options in Phoenix
There are over 1 million financial service companies and active credit repair companies in the United States. With so many choices, it can be hard to differentiate between experienced and non-experienced companies. To better understand how credit repair works, we have explained the three different types of credit repair companies that you can find in Phoenix.
Flat Fee Companies
Only 5% of companies operate like this, and in our opinion, this is the best option to get the fastest results and save the most money. Flat Fee credit repair companies typically only bill you for the accounts they dispute, and you pay a one-time fee for this service. The main advantage of this structure is that flat fee services are usually quicker, as credit repair companies have an incentive to complete your services in the shortest time possible.
Monthly Fee companies
Most credit repair companies charge their clients monthly fees; however, they don't always look over your credit report to see if there is something they can work on. This credit repair structure doesn’t work for all clients, and it lacks motivation to fix your credit fast. The credit repair company usually only disputes a few items at a time, which can take a long time if you have many negative accounts. Although the out-of-pocket expenses may be less each month, they add up over time, making this option more costly.
Pay for Delete
Fewer companies offer this model, and it offers a more enticing way to pay for credit repair. You only pay when the company produces results. However, most Pay for Delete companies charge a high fee for every item removed, even for each bureau's reporting. So, it's essential to check their fee structure before signing up.
Overall, we recommend choosing a flat fee company, as it is the most affordable and efficient option. However, it's crucial to conduct your own research to make the best decision for yourself.
The Credit Repair Process in Phoenix
When it comes to credit repair and the process involved, you may receive varying answers depending on who you ask. Unfortunately, much of the advice available is outdated or not helpful. Having been in the industry for 15 years, I can attest to the fact that the credit repair process is continually evolving. To complicate matters further, regulations and law changes mean that the credit repair industry is never stagnant. The credit reporting agencies are continually devising new procedures and processes that can limit the effectiveness of dispute resolution. As a result, it's essential to keep up-to-date with any changes to ensure the best possible results for clients.
Understanding the process
In 2015, credit repair began to gain popularity, with many people finding success in disputing negative and derogatory accounts through "not mine disputes." This process forced the credit reporting agencies to remove the account under the assumption that it was fraudulent. However, the secondary legal reinvestigation process often saw the same accounts reappear after a few months. As the popularity of "not mine disputes" grew, credit reporting agencies introduced measures such as e-OSCAR to weed out frivolous disputes, making it more challenging for people to obtain results. Today, if you're not using unique and innovative dispute tactics, getting items corrected or deleted from your credit report can be a struggle.
The new, effective credit repair process
While not a well-kept secret, many people are not using the process effectively because they don't understand the steps involved. Legally, you have the right to contest any account on your credit report. This means asking the data provider to validate the account to ensure it's yours and valid. Rather than responding to errors, you should request that the data provider provide proof of the account. Original signed documents or payment ledgers are some of the documents you could request. Once you've validated the account, if there are errors or issues with the reporting, use any available proof to request corrections or removal.
What account documentation should I ask for?
The documentation you need will depend on the original loan agreement. You can contact the creditor or collection agency to request the documentation required for a loan authorization, or you can do a quick online search to find information. A blog post with more details on this topic will be available soon, and the link will be available on this page, so stay tuned.
Personal Credit: Credit Repair Alone is Not Enough
Your personal finances play a crucial role in determining your credit score, which is why credit repair should not be considered a one-stop solution to fix your credit. To ensure sustainable credit, you need to get your personal finances in order. This means paying down your balances, ensuring timely payments of all accounts, and limiting credit card usage as much as possible. Keeping a small balance on your credit card at all times can help avoid account closure, but it is important to use it only in emergencies. By fixing your financial deficit, you'll see a positive impact on your overall credit score.
Unfortunately, many people fall into an endless credit repair cycle due to their failure to take their financial situation seriously. This cycle occurs because individuals pour their money into credit repair instead of using it to pay off balances and keep them low, leading to repeat clients seeking further credit repair. While it is possible to work on credit repair and financial management at the same time, it can be challenging for those who struggle to balance their finances. Therefore, the best solution for sustainable credit is to focus on getting your finances in order. Invest in your financial management to ensure long-term success in achieving and maintaining a good credit score.
Free Credit Repair Services in Phoenix
If you're wondering whether you can improve your credit score without spending money, the answer is yes. You can accomplish this by doing the services yourself, which typically comes at the cost of time. To help you fix your credit, just post your pros, and I have outlined the steps on my various blogs. However, most people hesitate to invest the time and effort required to do it themselves. If you fall into this category, then I suggest you opt for a credit repair company. But if you're determined to take the time and dispute your credit reports every month, take a look at my blog post, "Repair your credit like the pros." Leave a testimonial or review on my website to show your satisfaction with my services.
In my early days in the credit repair industry, I offered free credit repair services to people in exchange for a testimonial or review. I asked clients to let me fix their credit, and in return, they had to provide me with a testimonial or review. Although this cost me a little to send out their disputes, the value of the review was way more than the small cost of credit repair. That said, there are many newcomers in the credit repair industry who may be willing to do the same. Connect with "Credit Repair" Facebook groups and post a message like the one below to find them:
"I'm searching for a new credit repair business owner who would give me help with some credit concerns in exchange for an incredibly detailed 5-star review."
While you may encounter a few detractors, you should have no trouble finding someone to fix your credit inexpensively.
Final Suggestion
In searching for the most effective credit repair company to help you resolve your credit issues permanently, conducting intensive research and communicating with different credit repair companies will be necessary to avoid wasting your resources. It is also imperative to prioritize improving your personal finances, as this frequently underlies the credit problems experienced by most individuals. Some people complain about paying off their debts and still finding their credit unchanged. However, their terrible spending and savings habits hindered their ability to maintain a positive credit standing. Credit repair is a proven solution that has transformed the lives of over 20,000 of my clients. However, it must begin with you. Gaining control of your finances is the initial step towards ensuring that credit repair is a swift, effortless, and lasting remedy. You are fully capable of achieving this; do not lose hope!