The reputation of credit repair companies is often compared to that of dentists, with many people dreading the thought of dealing with them. Unfortunately, the ease of opening a credit repair business means there are many companies out there, making the industry comparable to fast food chains like McDonald’s. Having worked in the credit repair field for 15 years and running one of the largest companies in the nation, I understand the skepticism that consumers often have toward our industry, and I must admit that much of it is warranted.
The problem of bad credit is widespread and continually rising, leading to an influx of credit repair companies all over the place. For consumers, this means doing their due diligence to avoid being taken advantage of by an unscrupulous business. As a credit repair business owner who has helped over 20,000 people improve their lives, I feel a responsibility to give back by providing transparency and clarity on how the industry works. I aim to equip you with the tools to make the best decision when selecting a credit repair company.
Table of Contents
How to Find the Best Credit Repair Company in Aurora
Credit Repair Companies in Aurora: Understanding the Differences
The Credit Repair Process in Aurora, IL
Credit Repair: Only One Piece of the Puzzle
Free Credit Repair Services in Aurora
My Final Recommendations
How to Find the Best Credit Repair Company in Aurora
If you're searching for the best credit repair company, it's important to avoid being sold by a sales pitch and instead do your own research. While online reviews can provide a good overview, it's crucial to conduct due diligence to determine the legitimacy of a company. To help you with your research, we've compiled a list of things to consider when searching for the best credit repair company in Aurora:
Make a list
Conduct a quick Google search and create a list of companies in Aurora with a good online rating and reputation and, ideally, a physical office that can be visited anytime.
Reputation
Check the website history to ensure the credit repair company has been in business for at least three years. Also, verify that the online reviews are legitimate by scanning them.
Make the call
After shortlisting the top companies, call them to get more clarity on their services. Asking questions like "How long have you been in business?" and "Do you offer a money-back guarantee?" can help you make informed decisions.
By using this method, you'll be able to identify the most effective and least expensive credit repair company in Aurora.
Credit Repair Companies in Aurora: Understanding the Differences
With over 1 million credit repair and financial service companies in the United States, it can be challenging to determine which ones are experienced and which ones are not. To help you better understand how credit repair works, let us explore the three types of credit repair companies you will encounter in Aurora.
Flat fee companies
Only about 5% of companies operate under this model, but it can save you the most money and offer the fastest results. These companies only charge you for the accounts they dispute, and a one-time fee covers their services. The credit repair company typically does a consultation by reviewing your credit reports, quotes you a price based on those accounts, and has an incentive to complete their services quickly.
Monthly fee companies
Most credit repair companies use this model, which charges customers a monthly fee. The downside is that these companies usually do not review your credit report to determine if they can help you, and they have no motivation to fix your credit fast, so it can take 6-8 months to get full results. While you may be paying less out-of-pocket each month, the company can charge you for services over a longer period of time, making it an expensive option.
Pay for Delete
Fewer companies offer this model, but it offers an interesting way to pay for credit repair since you only pay for results. However, the fees can add up quickly since you pay for each item removed, which can be expensive if an account is reported to all three credit bureaus.
While we recommend you choose a flat fee company, it's essential to research and calculate each company's fees and structures to make the best decision for yourself.
The Credit Repair Process in Aurora, IL
When it comes to credit repair, there's a lot of advice out there, but much of it is outdated or not good advice. The industry is ever-changing, and with the addition of regulations and law changes, credit repair can quickly become complicated. The credit reporting agencies are always trying to outsmart the consumer and will put processes and procedures in place to keep them from using an effective dispute process. Keeping up with all the changes is crucial to ensuring the best results are provided to clients.
Let's talk about the credit repair process in Aurora. When credit repair became popular in 2015, users found success disputing all negative accounts using "not mine disputes," which forced the credit reporting agencies to delete accounts by claiming they were not theirs. While this process allowed immediate results, the accounts removed in month one would often reappear in month three after a secondary legal reinvestigation. Credit reporting agencies soon put in more refined processes, making it difficult for people to get results within the dispute process.
The new, effective credit repair process is about contesting the validity of any account on your credit report. You can ask the data furnisher to provide proof of the account's validity, including original signed documents or payment ledgers showing all transactions made. If you find an error, request that it be fixed or deleted using any proof you may have. To determine what account documentation to request, call the creditor or collection agency as a non-customer and ask what documents are required to authorize a new loan. This approach offers the best chance for credit repair success in Aurora.
Credit Repair: Only One Piece of the Puzzle
Your credit score is heavily influenced by your personal finances, which is why improving your credit isn't just about repairing derogatory accounts. Americans with poor credit often fail to recognize this correlation. Just like the stock market, credit scores fluctuate depending on your financial situation. While credit repair can play a role in improving your credit score, it's not a comprehensive solution.
Focus on Personal Finances
Raising your credit score is one thing, but maintaining a sustainable credit score is another. Sustainable credit means having a stable credit score despite financial hardships like a recession or a job loss. Unfortunately, most people struggle to achieve this because they don't have full control over their personal finances. Before investing in credit repair, prioritize paying down any revolving credit balances, paying all of your accounts on time, and limiting your credit card usage to avoid unnecessary debt. Fixing your financial deficit is the key to sustainability, and it will result in fewer drastic declines in your credit scores.
The Cycle of Credit Repair
Credit repair is often a repetitive cycle for many people. A client will approach a credit repair company to improve their credit, see an improvement, but then default to old habits and end up back where they began. This occurs when people don't take their financial situation seriously and don't work on paying off balances before resorting to credit repair. Although it is possible to work on both credit repair and finances at the same time, people generally don't have the financial resources to do so. Therefore, the most effective solution is to get your personal finances in line first so that your credit score will follow and remain stable.
Free Credit Repair Services in Aurora
Are you wondering if you can fix your credit for free without any professional assistance? Well, technically, you can, but it requires time and effort. You can find numerous blogs online that provide step-by-step guidance on how to repair your credit like a pro. However, this usually comes with a significant time cost. If you have the time, then you have the legal right to dispute your credit report anytime you want. But if you don't want to put in the work, then it is recommended that you leave it in the hands of a professional credit repair company. If you are serious about repairing your credit independently, check out our blog post on "Repairing Your Credit Like the Pros."
Testimonial or Review for Free Credit Repair Services
In the early 2000s, we used to offer free credit repair services to people in exchange for a testimonial or review. We understand that having testimonials and reviews helps businesses gain credibility and attract new customers. If you are looking for a newer credit repair company that can offer you the same deal, then you should join credit repair Facebook groups and ask for help in exchange for a detailed five-star review. You may encounter critics, but there will be someone willing to offer you free credit repair services in exchange for a testimonial or review.
My Final Recommendations
To ensure that you get the best credit repair service that offers a long-lasting solution to your credit problems, conducting comprehensive research and comparing different companies is essential. Investing your money and time in the wrong credit repair company can be frustrating and unproductive. Additionally, it's crucial to work on your personal finances, which are the primary root cause of poor credit. Many people waste their earnings on credit repair services and later label them a scam because of their bad spending habits and poor saving culture. From my experience, credit repair works, and it has positively transformed the lives of over twenty thousand of my clients. However, you need to take control of your finances before seeking credit repair services. With dedication and a positive mindset, you can achieve great success, so don't give up!