Like dentists, credit repair is an industry that has a less-than-favorable reputation. In fact, many people would prefer not to deal with credit repair companies at all. Unfortunately, with the rising number of players in the market, it seems like there's a credit repair company on every corner, just like McDonald's. However, having worked in the credit repair industry for over 15 years and running one of the largest companies in the nation, I'm well aware of the skepticism people have towards our services, and I admit there is some truth to some of the criticism.
It's no secret that bad credit is a growing problem, and the surge of credit repair companies in the last year indicates the many options you have as a consumer. However, with numerous options comes the need for due diligence to avoid falling prey to scams and other illegitimate businesses. As a credit repair business owner, I have helped over 20,000 people turn their lives around. It's my pleasure to use my expertise to provide transparency and clarity on how our industry works, giving you the proper tools to select a trustworthy credit repair company that will help you achieve your goals.
Table of Contents
How to Find the Best Credit Repair Company in Norman
Understanding Credit Repair Companies in Norman, Oklahoma
The Credit Repair Process in Norman
Improving Your Credit Score Requires Sound Financial Habits
Free Credit Repair Services in Norman
Tips for Choosing a Credible Credit Repair Company
How to Find the Best Credit Repair Company in Norman
When it comes to credit repair, the best company for you may not be the same as the best for someone else. That's why it's important to do your own research and due diligence before making a decision. While online reviews can be helpful, they're not always trustworthy. As an experienced credit repair professional, I've compiled a list of steps to help you find the right credit repair company in Norman:
1.Make a list of companies in your area that have a good online presence and reputation. A website that's been online for at least three years is a good sign.
2.Read reviews carefully and make sure they seem legitimate.
3.Contact the companies on your list and ask questions about their services, such as how long they've been in business if they have a physical office, and what their fee structure is.
By following these steps, you'll be able to analyze and compare each company's strengths and weaknesses and make the best decision for yourself. Keep in mind that the most effective and least expensive company may not be the same for everyone.
Understanding Credit Repair Companies in Norman, Oklahoma
In Norman, Oklahoma, there are over a million active credit repair and financial service companies in the United States. Selecting the right company is key to achieving your goals. However, it can be tricky to differentiate between experienced and inexperienced companies. In this article, we will look at the three different types of credit repair companies that you will encounter.
Flat Fee Companies
Flat Fee credit repair companies typically bill you only for the accounts they dispute, and you pay a one-time fee for this service. Notably, they are faster because they aim to complete your services as quickly as possible. Upon receiving your credit reports, a consultation will be conducted to determine if they can help you out. Then, they will quote you a price based on those accounts. Flat-fee companies are ideal for those looking to get the fastest results and save the most money.
Monthly Fee Companies
This option is the most common. However, it's not as efficient. Many companies that use this model never look over your credit report. Thus, they are unsure how they can help you. Although the fees are less per month, they add up over time, making this model expensive. Additionally, the credit repair company is disputing a few items at a time, which means it can take up to 6-8 months to see full results.
Pay for Delete Companies
Fewer companies offer this model, but it offers an interesting way to pay for credit repair. The name says it all, you only pay for results. However, the fee structure can be quite costly. For instance, an example company can charge a set-up fee of $299 (non-refundable) and $75 per item removed from each of the credit bureaus. This model is very appealing, but it's important to ask to see the fee structure and ask the company directly what the fee would be if they removed all negative accounts from all of your credit reports.
In conclusion, we recommend choosing a flat fee company because it's the best option. However, we also believe it's important to do your own research and calculations to make the best decision for yourself.
The Credit Repair Process in Norman
The credit repair process can be confusing, especially with the outdated or misleading advice found online. Through 15 years of experience, we have learned that credit repair is always evolving, and changes in regulations and laws mean that the industry is constantly adapting. Credit reporting agencies often use processes and procedures to limit effective dispute processes and control the consumer. To combat this, we stay up-to-date with all the changes to provide the best results for our clients.
Let's Talk About the Process
In 2015, the "not mine disputes" process became popular, with clients disputing negative and derogatory accounts, resulting in immediate success as they were flagged as "fraud." However, this only led to more refined processes and methods, making it harder for individuals to achieve the desired results. Therefore, it's essential to use unique dispute tactics to correct or delete items from your credit report.
The New, Effective Credit Repair Process
Contesting the validity of any account on your credit report is your legal right. Instead of only disputing errors, you should request that data furnishers provide proof of the account's validity. If there is an error present, respond by stating what the error is and requesting it be fixed or deleted.
What Account Documentation Should I Request?
Requesting documentation depends on the original loan that authorized the account. If unsure, non-customers can inquire about the documents required to authorize a loan. A quick Google search can also provide additional information. We will be posting a blog soon regarding all the available documents, so stay tuned.
Improving Your Credit Score Requires Sound Financial Habits
Your credit score reflects your personal financial habits, which are responsible for driving it up or down. Given that millions of Americans struggle with credit issues, it's essential to acknowledge the importance of smart financial decisions in achieving a favorable credit score. If you compare credit scores to the stock market, its fluctuations are a direct result of your financial situation. Fixing derogatory accounts on your credit report through credit repair is one of the several tools at your disposal, but it is not the ultimate solution.
Prioritize Personal Finances to Achieve Sustainable Credit
Anyone can fix their credit and raise their scores, but the question remains, can you maintain sustainable credit, regardless of a recession or job loss? Unfortunately, most people cannot achieve this because they lack financial control. For this reason, it is critical to prioritize sound financial habits such as paying down revolving balances, paying accounts on time, and minimizing credit card usage. Before investing in credit repair, ensure that your personal finances are in order. Utilize your credit card sparingly, keeping a balance of one to ten dollars on it to prevent account closure, and avoid using it unnecessarily. Combating your financial deficit is the most effective solution for sustainable credit. By aligning your finances, your credit score will follow suit, limiting large fluctuations and the associated consequences.
Break the Endless Credit Repair Cycle
The credit repair cycle has become an ongoing problem, with clients who return within six months of fixing their credit scores seeking further assistance. The issue is that people often invest solely in credit repair, neglecting their financial situation, and the cycle continues. To break this cycle, prioritizing smart financial habits to pay down balances and avoid revolving credit is essential. While it is possible to fix your credit and financial situation simultaneously, most people cannot do so due to financial constraints. It is crucial to focus on aligning personal finances to ensure a permanent fix for your credit score. This is the best advice anyone seeking to fix their credit score once and for all can get.
Free Credit Repair Services in Norman
Frequently, people ask whether they can repair their credit for free. The reply is affirmative. You can repair your credit by yourself, or at least for the cost of paper and postage. I have multiple blog posts where I have laid out the measures required to fix your credit like the pros. But as is the nature of anything free, it comes with a heavy cost of time. Even though you have the legal right to challenge your credit report at any time, most individuals either do not want to exert themselves or do not have the time. I highly advise people who do not want to repair their credit to pay a professional credit repair agency to handle it. Nevertheless, if you are serious about investing roughly 2-4 hours per month to dispute your credit report without any charges, kindly go through my blog post on "Repair your credit like the pros."
Provide a testimonial or review
One of the perks I used to offer people was that they would get free credit repair services in exchange for a testimonial or review. Back when I was getting established in the credit repair industry in the early 2000s, I had no testimonials or reviews. At this point, I would ask people to allow me to fix their credit and, in turn, give me a testimonial or review while they received free credit repair. Certainly, it cost me to mail out their disputes, but the benefit I earned from the review was significantly higher than the small cost of doing credit repair. Essentially, there are many new credit repair companies that would love to do the same thing as I did. My recommendation would be to search for "Credit Repair" Facebook groups, join them, and post a message similar to this:
"I am trying to locate a new credit repair business owner willing to help me resolve some credit concerns. In turn, I will provide an extremely comprehensive review with a five-star rating."
You may encounter some detractors, but you should have no trouble finding someone to carry out your credit repair for free.
Tips for Choosing a Credible Credit Repair Company
Conduct extensive research to find a trustworthy credit repair company that can provide a lasting solution to your credit problems. Despite being a laborious process, it is necessary to avoid wasting your time and money.
Take personal responsibility for your finances, as they are primarily responsible for poor credit scores. Rather than squandering income on credit repair, revisit your spending and saving habits, which often trigger the problem.
Keep in mind that credit repair works effectively, as evidenced by the fact that it has transformed over 20,000 of my client's lives. However, it all begins with your financial discipline before credit repair can become the quick and lasting remedy you seek. Stay optimistic.