Similar to dentists, credit repair unfortunately has garnered a negative reputation. Nobody wants to entrust their financial information to strangers, and often, credit repair is the last resort for those in despair. However, with minimal requirements needed to open a credit repair company, you'll find them on every street corner much like McDonald's franchises. As someone who has been a part of the credit repair industry for over 15 years and has one of the largest credit repair companies in the nation, I can empathize with the skepticism and criticisms directed towards our industry.
The prevalence of bad credit is a growing issue, and with an increase in credit repair companies, it's crucial to do your research to ensure that you don't fall victim to a scam. Having served over 20,000 individuals and helping them take charge of their finances, I want to provide a greater level of transparency and clarity about how our industry operates. With this knowledge, you can make a better-informed decision when deciding which credit repair company to hire.
Contents:
How to Find the Best Credit Repair Company in Costa Mesa?
Different Credit Repair Services in Costa Mesa: Finding the Right One
The Credit Repair Process in Costa Mesa
Personal Finances Are Key to Sustainable Credit Health
Free Credit Repair Services in Costa Mesa
My Final Suggestion
How to Find the Best Credit Repair Company in Costa Mesa?
When people ask me what the best credit repair company is, I don't recommend my company right off the bat. Instead, I advise them to do their own research and due diligence. While online reviews can provide insight, not all of them are genuine. I prefer clients to make an informed decision based on personal research. Being in the industry for 15 years, I have learned that being persuasive is not as effective as being convincing through research. With that said, I have compiled a list of steps for you to follow to determine the best credit repair company in your area, specifically in Costa Mesa.
Step 1: Make a List
Begin by doing a quick Google search of credit repair companies in your area with good or acceptable ratings and a convenient location. While you don't have to stick with a local company, having the option to visit their office spontaneously can give you peace of mind. Therefore, I suggest creating a list of potential candidates in Costa Mesa for your own reference.
Step 2: Reputation
It's crucial to only consider credit repair companies with an excellent online reputation. However, with so many fly by night companies, you may need to sift through some less reputable ones. Established companies typically have a website online for at least three years. Visit https://archive.org/web/ and type in their URL to confirm when their website was first established. When reading reviews, ensure there are enough reviews for you to make an informed decision while avoiding fake Google reviews.
Step 3: Make the Call
After you have narrowed down your list of potential companies in Costa Mesa, it's time to call each one. Keep in mind that most credit repair companies may not answer during business hours, which could be an indicator of their ability to handle your business. To help you make a decision, ask some of these questions during your call:
A. How long have you been in business? Are you unlicensed and bonded? If so, can I see a copy of your bond?
B. Do you have a physical office where I can meet you and your team?
C. Do you offer a free consultation?
D. Do you offer a money-back guarantee?
E. What is your fee structure? Do you charge monthly or a flat fee?
F. How long does the credit repair process take on average?
Answering these questions will help you make an informed decision on which company in Costa Mesa can offer the most effective and least expensive services.
Different Credit Repair Services in Costa Mesa: Finding the Right One
With more than a million credit repair and financial service companies in the USA, it's hard to differentiate between experienced and non-experienced companies. Understanding how credit repair works, we've laid out three types of credit repair companies for you to compare and contrast in order to identify the right one.
1. Flat Fee Companies
Only 5% of companies work on a flat fee basis, but it's the most efficient way to receive quick results and save money at the same time. In this process, a credit repair company will initially look over your credit reports to determine if they can help you, and then quote you based on how many accounts they plan to dispute. This method allows clients' credit repair services to get completed quicker than other models, without prolonging their ability to get pre-approved through a mortgage company. It's a structure that appeals to more clients, and many flat fee credit repair companies only charge a one-time fee for their service.
2. Monthly Fee Companies
Most credit repair companies operate under a monthly fee structure. Though you might think this is an efficient method, most companies don’t perform a thorough inspection of your credit report, which makes it harder to understand if they can work on your case efficiently. This type of structure doesn’t work for all clients as the credit repair company may only focus on disputing a few accounts at a time, and it can take up to six to eight months to show the full result. Though this fee structure might work for those who prefer to pay less out of pocket each month, it can get quite expensive over time.
3. Pay for Delete
The least offered structure is the Pay for Delete service, which is appealing because customers pay for just the results achieved. Although it puts pressure on the credit repair company to perform, most companies run the service by charging a lot of money for each item removed. Also, if an account is reporting to all three credit bureaus, it is considered three items. So, you might pay $524 just to get only one account removed from all three credit reports. Though this structure sounds appealing, it's important to ask the company about its fee structure and how much it charges if they remove all the accounts from your credit report.
We recommend that you choose a flat fee company, but please do your own research and calculations before deciding on the best structure for you.
The Credit Repair Process in Costa Mesa
The credit repair process can be confusing and outdated advice often circulates online. As an industry veteran of 15 years, I know that credit repair is always evolving and adapting to changes in regulations and laws. The credit reporting agencies can make it difficult for consumers to dispute inaccuracies, but it's important to keep up with changes. In Costa Mesa, we strive to stay current to provide the best results for our clients.
The Process Explained
In 2015, many people found success with "not mine disputes," but this process quickly became ineffective due to refinements made by the credit reporting agencies. To achieve results today, unique dispute tactics must be utilized. The most effective way is to contest the validity of any account on your report, which is your legal right. By requesting proof of the account from the data furnisher, e.g., the creditor or collection agency, you may be able to identify errors. If you find an error or inaccuracies, respond using evidence to request that it be fixed or deleted.
What to Request
The account documentation you need to request depends on the original loan authorized. A quick Google search or calling as a non-customer can provide you with more information. If you're unsure what documents are required to request, stay tuned for our upcoming blog post which will include links to all the relevant documents you can request.
Personal Finances Are Key to Sustainable Credit Health
It is well known that personal finances are the driving force behind one's credit score. To achieve sustainable credit health, individuals must prioritize their finances rather than just seeking credit repair solutions. Credit repair is only one of many tools available to improve derogatory accounts on a credit report, but it is not the end-all solution. Instead, it is essential to have control over personal finances to maintain credit strength and avoid fluctuation even during recessions or job loss. Therefore, clients must focus on paying down revolving credit balances, ensuring timely payments, and limiting credit card use. In the pursuit of fixing credit, people often fall into an endless cycle of credit repair due to poor financial habits. To break this cycle, one must prioritize personal finances to achieve long-term credit health. By investing in financial stability first, credit scores will follow suit, resulting in fewer significant score decreases.
Free Credit Repair Services in Costa Mesa
One of the most frequently asked questions in the credit repair industry is whether consumers can repair their credit for free. The answer is yes, you can manage to fix your credit by doing the legwork yourself, at the cost of paper and stamps. Numerous blogs provide step-by-step procedures for repairing your credit like professionals, but the challenge is the enormous amount of time required. Even though disputing your credit report whenever you want is legal, many people usually choose not to commit the needed time or effort. If you're one of these individuals, it is advisable to hire professional help from legitimate credit repair companies. However, If you're willing to make a time investment of 2-4 hours a month, you can dispute your credit report for free, and we recommend reading our post, "Repair Your Credit Like the Pros."
Submit A Testimonial or Review
When I began offering credit repair services, I provided free credit repair to random individuals in exchange for testimonials or reviews. Because I had no reviews or testimonials back then, I would repair people's credit and receive a detailed 5-star review in exchange. Although collecting their disputes cost me, the value of obtaining the review surpassed the cost of providing free credit repair. Our advice for anyone requiring free credit repair services is to search for "credit repair in Costa Mesa" Facebook groups and post something similar to the following:
"I'm hoping to find a trustworthy credit repair business owner who can assist me with some credit concerns in return for a detailed 5-star review."
You may receive some negative comments, but finding someone willing to do your credit repair for free should not be an issue.
My Final Suggestion
When searching for the best credit repair company, ensure to conduct thorough research to find one that can assist you in permanently mending your credit score. This may require reaching out to multiple firms, but it’s critical to avoid wasting time and money. Additionally, look after your financial well-being, since it is the root cause of most problems. Many individuals' credit was affected by poor spending and saving habits, which they attempted to fix by throwing their paychecks at it. They subsequently conclude that credit repair is a fraud or ineffective online. However, I've seen credit repair literally transform the lives of over twenty thousand of my clients. It all begins with you, and you must first manage your finances before credit repair becomes a simple, quick, and mostly permanent solution. Keep your spirits up, and don't give up!k