My name is Joe Mahlow, and let's dive into the topic of credit repair for free. There is a lot of misinformation out there about credit repair, so before we move forward, let me clarify a few things. Yes, it is possible to repair your credit for free, but it will require a significant amount of effort on your part. If you're up for the challenge, however, it can save you both time and money in the long run. I often receive questions from clients about credit repair, and I'd like to address some of those now. So let's jump in!
Table of Contents
Obtaining Credit Repair Services for FreeHow can I fix my credit score without professional help?Using Free Credit Repair Software: Is it Possible?How to Get a Credit Report for Credit RepairCan Credit Repair Boost My Credit Score?Finishing Up!
Obtaining Credit Repair Services for Free
It's rare to come across a person or business that offers credit repair for free. There is usually more to the story than what is advertised. No one is interested in repairing your credit without expecting something in return. In the past when I started my credit repair career over 15 years ago, I knew I had to offer a few free services to get my name out there and show proof of my work to potential clients. However, I was also seeking testimonials or feedback, which meant that clients had to invest time in leaving reviews.Today, my company, ASAP Credit Repair, still offers one round of credit repair services for free. However, you must enroll and pay the service fee to start the process. Always remember that free credit repair comes with a cost.On the other hand, you could choose to repair your credit yourself and for free. It only requires time and dedication, and I recommend disputing your credit report for free. However, you need to set aside 1 to 2 hours per month for the next 3 to 5 months to complete all the necessary steps of credit repair. If you don't have the time to do it yourself, you could seek the help of a credit repair company, which typically charges $400-600 for their services.
How can I fix my credit score without professional help?
Fixing your own credit score is easy but may take some time. Never file a dispute online, as it gives up your legal right to file more than one dispute per year. Moreover, online disputes are not effective. The credit repair process involves 70 percent research and credit report analysis and 30 percent drafting credit reports.
Below are the steps you need to take to fix your credit score:
1. Obtain your credit report by using a credit report provider, such as Identity IQ, to identify all possible errors.
2. Familiarize yourself with the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA) for dispute guidelines.
3. Create a dispute letter mentioning your name, birth date, social security number, and account name and number. In the body of the letter, request proof of account validity and conclude by signing the letter.
4. Wait 30 days for a response from the creditor, and if none is received, send a secondary dispute letter requesting account deletion or late payment history removal.
5. Repeat the process until the issue is resolved.
While drafting a dispute letter, keep it straightforward and never use online templates. You may seek the assistance of ASAP Credit Repair or other trustworthy firms for guidance if needed.
Using Free Credit Repair Software: Is it Possible?
As a beginner in the credit repair industry, my priority was to find a tool that could help me simplify my job by creating effective dispute letters quickly and with ease. The Credit Repair Cloud software was the only option available at that time, and it has since evolved. Initially built to aid credit repair companies in helping their clients improve their credit scores, the software can now also be used by individuals. In fact, a free 30-day trial is available where users can create their first dispute letter at no cost. This is an excellent option for individuals who want to do their own credit repair for free. Additionally, the software provides step-by-step guidance through the credit repair process and valuable information on credit repair in general.The Credit Repair Cloud software also offers a variety of dispute letters and tactics as well as different dispute reasons tailored to specific accounts. However, if you only use the free trial, you will only have access to their 1st round dispute letters. To complete the entire credit repair process, you will need to manually create your own letters for later rounds or upgrade to the paid version.While the Credit Repair Cloud software is a great tool, it's worth exploring the other roughly 10 credit repair software options available in the market to find the one that fits your needs best. Who knows, after successfully navigating your own credit repair, you may choose to start a credit repair business and help others fix their credit!
How to Get a Credit Report for Credit Repair
In order to repair your credit for free, you will need to obtain a copy of your credit reports from all three major credit bureaus: Equifax, Experian, and Transunion. While it is possible to dispute your credit report with both credit reporting agencies and data furnishers, it is best to keep things simple when you're just starting out.Additionally, you will need to determine which credit report to use. While there is no correct answer, it's helpful to use the most effective one available. In general, lenders will pull your FICO score report, but this report can be expensive to access, so it may be wise to obtain a less expensive Vantage score report first. These reports are less costly and provide the same data.For best results, it's advisable to use IdentityIQ, as it provides more detailed data than other credit monitoring websites. While you do not have to use IdentityIQ, we have found that our clients' results are better when they use their reports as opposed to traditional credit monitoring websites.
Can Credit Repair Boost My Credit Score?
In short, yes. However, it's important to note that credit repair isn't a magic solution for improving your credit scores. While it can certainly help, it's equally crucial to carefully manage your credit and maintain excellent payment history in order to continue improving your scores. Many people mistakenly believe that credit repair is a quick fix for all their credit issues, but realistically, credit report inaccuracies or errors are the only accounts that can be successfully removed through credit repair efforts.
What Can Credit Repair Help Within Terms of Boosting My Credit Score?
Credit repair can help to improve your credit score by removing negative payment history or negative accounts - this almost always results in a higher score. But it's worth mentioning that positive revolving accounts and installment loans are also extremely important for credit score improvement. Maintaining good payment history on your active accounts is key to establishing and maintaining good credit. If you need to build credit, a secured credit card is a great place to start, as it can help you build credit quickly.The bottom line is that credit repair can be a highly effective tool for boosting your credit score, but it's essential to ensure that you have established credit, pay your bills on time, and keep your credit card balances close to zero dollars at all times to maximize its impact.
Finishing Up!
During my 15 years in the industry, I have come across countless scenarios where people fail to initiate the credit repair process due to a lack of knowledge. Hence, my suggestion is to take that first step - no matter how small it is- toward credit repair. This can be achieved by either learning about it and creating a dispute letter or opting for the services of a credit repair company that can handle all the work for you. The point is to not sit idle and do nothing. Taking action today to repair your credit will go a long way in saving you on interest payments in the years to come. If you are unsure about where to start looking for a reputable Credit Repair company, we at ASAP Credit Repair offer a free consultation and evaluation to help you get started. We understand the importance of restoring and repairing credit promptly. Remember, it's never too late to turn things around.