MIAMI, April 20, 2021 /PRNewswire/ -- TransformanceUSA announces the release of their feature article: "Credit Repair Services of the Year".
Credit repair companies help their clients by removing negative items from their credit report, such as late payments, debt collections, and bankruptcies. These firms employ a variety of strategies to help their customers. For example, they may use different methods to handle late payments or to fix someone's credit score.
The purpose of this article is to share the best credit repair companies and identify the factors to look for when choosing one.
How Credit Repair Companies Were Scored:
Cost - Performance Insider ranked the best credit repair companies based on cost and value offered accordingly. This includes hidden fees and available discounts.
Dependability - In-depth discussion with real users about their experience with credit repair companies, if they found the companies to be accurate and reliable or not.
Effectiveness - Examination and comparison of how the best credit repair companies work and if they are able to fix one's credit based on their claims.
1. Credit Saint - Highest-Rated
Credit Saint has been around for a long time, and helped thousands of people with their credit scores. That is why it is unrivalled as the best credit repair service available. The company has been given an A+ rating by the Better Business Bureau for more than 10 years running.
Customers can receive a free assessment of their credit score, as well as a report to identify any potential setbacks. Best of all, there are no hidden obligations or fees.
If an individual chooses to proceed after getting a consultation from Credit Saint, they will then contact the credit bureaus on behalf of the client. The purpose of this correspondence is to notify the credit bureau of any existing errors on the client's credit report.
Some of the negative items in a consumer's credit report that Credit Saint may be able to remove are collections, judgments, repossessions, credit inquiries, late payments, liens, and bankruptcies.
Credit Saint is aware that not all customers are the same. Therefore, they have packages to suit different needs. The basic Credit Polish package consists of challenges on five negative items per cycle to up to three major credit bureaus, a credit score tracker and free analysis.
One level up is the Credit Remodel package. This includes everything from the previous level, but with 10 negative item disputes per cycle instead of five. There is also continuous Experian credit monitoring.
Credit Saint's ultimate solution is the Clean Slate package. It comes with everything in the above two packages, as well as unlimited challenges on erroneous items. Credit Saint also takes it one step further by personally sending out cease and desist letters on behalf of the client.
This company offers excellent value for money, as well as a 90-day money back guarantee to boot. In conclusion, Credit Saint has the following advantages:
Better Business Bureau score of A+ for over 10 years
Three distinct bundles
Free, no-strings-attached evaluation with a credit repair specialist
24/7 online monitoring available
A guaranteed refund within 90 days if results are unsatisfactory
2. Lexington Law - Most Experienced Credit Repair Company
Lexington Law, originally founded in 1991, is one of the most experienced credit repair services in the country. This firm is now the largest credit restoration company in the United States. In 2017, they impressively removed more than 100,000 negative items from their clients' credit reports.
The company has a team of legal professionals, such as lawyers and paralegals, that fight for people's credit scores using specific laws. Some of the negative factors that they can help with, which can potentially impact a person's credit score, include:
Lexington Law provides three distinct service packages to cope with the needs of different consumers. Their most basic credit repair service, Concord Standard, consists of challenging negative items with the three major credit bureaus and the client's creditors.
The Concord Premium package offers the standard services, plus a score analysis and TransUnion alerts. Hard inquiries are also waived.
The PremierPlus package by Lexington Law is the most thorough and comprehensive. This package includes the services of the other packages as well as additional identity theft protection, FICO score tracker, and personal finance tools.
Lexington Law is one of the most experienced credit repair companies, but they are more expensive than many competitors. The undeniable quality of their work also justifies this cost.
The foremost benefits of utilizing their services are:
Many independent review sites rank Lexington Law as the optimal option
A total of 56 million removals since 2004
Assistance with late payments, foreclosures, collections, and charge-offs
In excess of 500,000 customers presently
3. Sky Blue Credit - Best Value for Money
Sky Blue Credit offers quality services for a very reasonable price. The service is transparent with low prices, provides free services for the initial six days, and promises a 90-day money-back guarantee. This makes Sky Blue Credit a suitable option for those with limited disposable incomes.
It has an affordable monthly fee for all of their credit services, which include the disputing of five items against each of the three credit bureaus every 35 days. Other companies offer separate rates for each service or package, making them more expensive in comparison.
Sky Blue Credit also offers a credit history analysis to new customers. This service helps customers to pinpoint any harmful errors in their credit history. The specialists go through the onerous task of disputing credit card debt by sending letters on behalf of clients that are in the right. They also check the statute of limitations for any remaining debts.
Here's what the most relevant features of Sky Blue Credit consist of:
A single monthly fee for every service
First six days absolutely free
Customers may cancel at any moment that they wish
A 90-day guarantee which can be fully refunded
4. Ovation Services - Second-to-None Customer Service
Ovation Credit Services has helped over 12,000 people improve their credit score through its outstanding customer service. The credit repair company builds real relationships with its clients and provides them with personalized credit repair solutions.
This credit repair company has some of the most affordable monthly rates. The first meeting includes a free consultation for each customer. During the consultation, the advisor reviews the client's credit history with them to figure out what kind of solution is best for each problem.
Subsequently, an Ovation Credit Services consultant files arguments on behalf of the customer. Some other services may include contesting late payments with creditors and writing goodwill letters to persuade creditors to work with the individual. By working with credit reporting bureaus, Ovation also makes sure that their clients have correct credit evaluations.
In summary, the chief reasons to use this company's service are:
Top level customer service
Initial consultation, free of charge
Credit repair solutions that are tailored to individual situations
Good value for money
5. CreditRepair.com - The Credit Repair App
CreditRepair.com has some of the most satisfied customers among credit repair companies. Created in 2012, this company has already removed in excess of 1.8 million harmful items for its clients. People can use this credit repair firm's app on both iPhones and Androids.
After signing up, users receive a report which will identify any erroneous, confusing, or imprecise information on their credit report. The team will then create a custom plan to help them repair their credit, using different techniques for getting out of debt.
CreditRepair.com provides a variety of services to make the customer's credit life easier. Their Direct package is the cheapest option and for people who have only a few negatives on their credit report. The package includes 15 credit challenges and three disputes lodged with creditors each month.
Customers who choose the Standard option will receive 24/7 credit monitoring, hard inquiry challenges, cease and desist letters sent, and a quarterly credit analysis. The price for this service compares well with the typical industry standards set for credit repair services.
The Advanced package is naturally its most comprehensive. As well as including all of the previous benefits, this option also provides identity theft insurance and protection, a variety of personal finance tools, up to 19 challenges a month, and a monthly FICO score.
In summary, some of the finest features of CreditRepair.com are:
Efficient reparative programs
Free credit analysis
Discounts for family and friend recommendations
More than 15 monthly negative item challenges
Three different repair packages to select from
6. The Credit Pros - Fastest Credit Repair
The Credit Pros have been operating for 12 years, and have assisted over 200,000 people with their credit issues. It is consistently voted as one of the best credit repair services by impartial review sites, and has garnered A+ ratings from the Better Business Bureau.
There are three packages available. The Money Management package is the cheapest option and includes monitoring of one's identity on the dark web, TransUnion, and more. It grants access to the CashRules finance manager, a powerful tool for managing personal finances. It allows users to integrate bank accounts, track transactions, and set budgets.
The mid-level Prosperity package contains all of the benefits of the entry-level package, and also includes: debt verification and unlimited dispute letters, cease and desist letters, goodwill letters to banking institutions and loaners, as well as a personalized, expert-created action plan.
The most comprehensive and expensive option is the Success package. Customers get credit lines of $1,500 with this package in addition to everything else from previous packages. The credit repair service will also report good credit behavior to Experian and TransUnion, helping to build a better credit history.
Positive features of The Credit Pros that consumers should keep in mind include:
Initial consultation with a credit specialist, free-of-charge
A+ Better Business Bureau rating
Automated credit repairing technology
Quick credit repair that facilitates faster results
A variety of packages that are available
Possible addition of unlimited dispute letters
Credit surveillance included with all bundles
7. The Credit People - Best Customer Approval Guarantee
The Credit People have a long history of credit repair, so they are one of the most experienced companies in their field. Customers can either choose to pay for a six-month service plan, or pay monthly as they go.
This company has removed 1.5 million negative items from their customers' credit reports since 2004, and the evidence reveals that the average customer sees a 32 percent credit score uptick.
For a minor charge, users can test the service for a week before deciding if they want to continue with it. The Credit People also offers a 60-day refund if consumers are not satisfied.
Strong customer service is what makes The Credit People better than the competition. Some rewards for joining The Credit People include:
24/7 toll-free customer assistance
Unlimited challenges every month
An FCRA certification
Enquiry and validation of debt
How Credit Recovery Services Work
To begin, credit repair companies typically access a customer's credit report from the three major credit bureaus, and then review the information provided to fix any errors. Next, specialists scrutinize the credit reports to identify any mistakes. The most common mistakes include inaccurate personal data, data management errors, and imprecise balances.
It is not easy to have a credit report cleared of false information. First, the professionals must gather evidence to prove the information in the report is wrong. Usually, this can take anywhere from a few days to more than a week.
Once the specialists have gathered the required information, they send it to credit monitoring companies which then triggers a 30-day window in which they have to respond. If the credit bureaus have corrected the mistake, they will contact the credit repair service. If they have not, they will also explain why to the credit repair service.
Essential Considerations When Choosing A Credit Repair Company
Before signing up with a credit repair company, individuals should compare them and their services. Some factors to take into account are below.
Companies should not require upfront payments, as this is illegal under the Credit Repair Organizations Act. Typically, legitimate credit repair companies do not charge setup fees.
Free consultations are advantageous, even to those who already possess good credit. A service that offers free evaluation services will help the individual to identify areas in which they can make changes, as well as identify where they are already experiencing success.
Having an opportunity to learn appropriate financial habits will help people avoid the need to hire credit repair professionals in the future.
Monthly and Flat Rate Payments
Repair companies usually offer either monthly fees or one-time flat payments. The customer must pick the best option for their needs.
Credit Repair Reviews
Reviews from former customers are a great way to find out if a company is competent, trustworthy, dependable, and affordable. Users should not rely only on the reviews posted on a company's website. They should also do their own research online to get a full objective understanding of others' experiences with the organization.
Checking with the Better Business Bureau is recommended, as they help consumers find the most reliable businesses.
The best credit repair companies are the ones who provide customer service that goes above and beyond. The top credit repair companies offer excellent support with knowledgeable staff that are easy to talk to and can help individuals decide how best to improve their credit score.
In order to help clients achieve better credit scores more quickly, they will monitor their clients' progress on a continuous basis. Agents will notify customers about their credit score and if there are any current disputes or challenges.
How Long Does It Take To Repair Credit?
Customers should not expect to see progress immediately. Depending on the solution, it can take three to six months before any results appear. If the individual is good about maintaining their credit score annually, they may not have to wait as long.
For people with significant credit issues, or those who have never looked at their credit report, it may take more than six months to see an improvement.
Is It Worth It To Use Credit Repair Companies?
It is possible to do everything a credit repair company does and achieve the same results. This may lead people to be uncertain whether or not it is actually worth it to use a credit repair service.
There are two main advantages when it comes to engaging professional credit recovery services rather than trying to do it alone. The first benefit is saving people time as it is a tremendous chore to fix bad credit scores. Secondly, using a professional service simplifies the process and makes it much more efficient because they know the best methods to use.
In addition to saving time and providing positive results quickly, using a credit repair company can also save people more money overall in the future. Improving one's credit score even by a few points can save on mortgage repayments, loan interest rates, and credit card interest rates.
Cost Of Credit Repair Services
The cost of credit repair services can vary greatly, depending on what someone needs. Monthly fees can oscillate between $79 and $129, but the average in the industry is around $99. People can also buy software, such as TurboScore Home, that will help them repair their credit score without having to do it manually.
Can Credit Repair Services Guarantee Success?
Credit reports are constantly changing (like when someone makes or misses a payment) and it is almost impossible to guarantee a result. As such, customers should be leery about providers who make too many unlikely promises.
Addressing Credit Repair Service Scams
There are bad credit repair companies that scam individuals, but people can avoid them by doing their research.
The first thing people need to understand is that the Credit Repair Organization Act in 1968 prevents companies from making misleading statements about the products or services that they offer. The company's contracts should also be written in a way that gives the customer an ability to cancel.
Credit repair companies legally cannot collect payments until their services come to a conclusion. However, many companies do circumvent this regulation by including a setup fee and setting up payments monthly to spread the expense.
Beware of credit companies that are dishonest or misleading. It is important to watch out for companies who do not want users to speak with credit monitoring bureaus. People should also avoid companies that provide fabricated credit reports or identities.
What Methods Do Credit Repair Firms Utilize To Get Items Erased?
A credit score is a numerical representation of how good a potential borrower is at paying back debt. Most companies employ different methods to get items removed from credit reports, such as:
Goodwill letters: Credit repair services will sometimes write letters to creditors to clear negative information from a credit report through goodwill. Although this may not always work, it does surprisingly succeed quite frequently.
Debt validation letters: A debt validation letter is a formal request for a debt collection agency or creditor to provide proof that the debt is legitimate. If they are incapable of providing evidence, the item must then be removed from the credit score.
Negative item challenges: Consumers have the right to dispute credit report inaccuracies, which the credit bureau must then respond to in 30 days or less. Some companies allow their customers to dispute charges indefinitely every month, while others have a maximum number of disputes they will permit.
Fixing inaccurate information: For victims of identity theft, a solution that is helpful is to amend any false records. Most credit repair companies will assign clients an advisor to go through their credit report with them to search for any inconsistencies.
Cease and desist letters: The Fair Debt Collection Practices Act says that once a consumer requests a debt collection agency to stop calling, the debt collector must cease all contact. Most credit repair companies will send out letters to debt collectors and creditors on behalf of the customer.
Credit Repair Companies in Conclusion
The best credit repair companies can help users get back on their feet by repairing their credit scores over time. They can also offer guidance for financial budgeting in the future to help people avoid needing to contact a credit repair company again.
All of the companies on this list have well-earned reputations as legitimate and successful credit repair businesses.
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