You might need credit repair if you have damaged credit due to a number of factors, including medical issues, job loss, divorce or separation, unexpected home ownership costs, and even natural disasters. In any case, having bad credit can be devastating and hurt your chances of getting financing for big purchases like buying a home, or car. There are many companies that offer credit repair services. However, there are also many fraudulent businesses waiting to take your money without ever repairing your credit. It’s important to do your research before signing on with a company and handing over your hard-earned cash. How do you know which company is trustworthy and has your best interests at heart? Here are some helpful suggestions on how to choose a reputable company with successful results.
Check the Company’s Reputation
It’s important to know how a company is viewed by others in the same industry and by current customers. You can start the research process by checking out the company’s reputation on sites like Yelp, the BBB, or Trustmark. You can also look online for reviews and comments from former clients that have used their services and additionally, at what type of media attention the company has gotten. If there have been negative articles written about the company, or if it’s not listed in the right directories, stay away. You don’t want to work with a company that has a bad reputation, or is trying to hide something.
Look for a Company With a Proven Track Record.
A reputable credit repair company should have plenty of legitimate records proving their reliability. This means their clients should have nothing but positive things to say about the company and their services. You should be able to find reviews about the company and its reputation online, as well as testimonials from previous clients. If a company has a proven track record for success, and you have a good feeling about it, this is probably the best company to work with. You should also find out if the company has been in business for a long period of time. This means they are experienced and have more knowledge about what they are doing. A company with a lot of experience will also have a better understanding of how the credit repair process works and what it takes to get you the results you want.
Find Out How Long It Will Take to Repair Your Credit.
One of the most important factors when choosing a credit repair company is to find out how long it will take to repair your credit. You should get an estimate from the company about how long it will take to repair your credit. You should also find out how the company plans to do it. The main methods used by credit repair companies are: -
► Disputing inaccurate information on your credit report
► Settling any outstanding debts
► Obtaining a credit freeze
► Getting a paid off debt removed from your report
You should be able to find out how a company plans to get your credit score up and how long it will take to get it done. You also need to make sure the company is equipped to deal with any problems that might come up throughout the process.
Ask About Fees and Commissions.
With any business, you should always know what you have to pay at the beginning and end of the deal. You don’t want to be surprised by different fees, or commissions, that you didn’t know about when you signed the contract. You should know how much each service will cost from beginning to end. You should also ask about cancellation policies, especially if the company offers a money-back guarantee. You don’t want to sign a contract with a company and then find out you can’t break your contract without a penalty. You want to make sure you can get out of the contract if you are unhappy with the services, or if the company doesn’t deliver on its promises.
Don’t pay up front.
Credit repair companies make their money by getting a percentage of your increased credit score. However, you may also have to pay them a percentage of the money you save by having a higher credit score. Some companies also charge a monthly fee for their services. A reputable company won’t ask you to pay up front. They will only ask you to sign a contract promising to pay them a percentage of the money you save with a higher credit score, or for a service fee while the work is underway. You should also be able to cancel your contract with no penalties if you are unhappy with the company’s services.
Be wary of “too good to be true” promises.
You should always be careful of a company that makes “too good to be true” promises. A company that promises to repair your credit in a matter of months, or weeks, is probably not being truthful. The average amount of time it takes to repair bad credit is about two years, so you should be wary of companies that promise to repair your credit within significantly smaller time frames. In most cases, you should expect it to take a year, or two, to repair your credit to a decent level.
Conclusion
Credit repair can seem daunting and difficult, but there are many helpful companies that can help you get your credit back on track. The key is finding the right company to suit your needs. You should be careful when choosing a credit repair service, which means doing your research, looking for reputable companies, and finding out how long they claim it will take to repair your credit. You also need to make sure you know what you have to pay for their services and avoid companies that make “too good to be true” promises
