what is a Credit Repair Service?
Credit repair disputes the accuracy or verifiability of account information on your credit report.
Credit scores are necessary as good credit determines the available credit facilities you can enjoy.
When applying for a loan or credit card, providers determine the interest rates they will charge based on your credit score. If you have a poor credit score, you may get a high APR or do not qualify for the loan you want.
Having a bad credit can leave you homeless and jobless, and even deny you the joy of getting a bank loan approved. Many landlords now check credit scores to determine how likely you will be late on your rent.
Having a good credit score is all that matters. Banks and businesses are using your credit to make decisions about you. There is a great feeling that comes from having a good credit score since a good credit or improved credit score can deliver many benefits to you such as, the opportunity to acquire a new car, easy access to loan approvals and enjoying lower interest rates on a mortgage.
Often times, people’s attention is drawn to they having a bad credit score only when a lender denies them a loan. For this reason, there will be a need for a credit repair. Credit repairs can be done by individuals at home due to its cost efficiency and also protect themselves from credit repair scams, though you will need the time, dedication and knowledge about credit repair to make it a success.
However, most individuals entrust their credit repair with established and reputable credit repair services, because they do not have the time and the expertise to successfully repair their own credit.
top 5 best credit repair agencies
There are several credit repair agencies in the country. The industry is a vibrant industry that thrives on trust and results. The best companies are the ones that have provided results to their customers over the years. Here is a list of the best credit repair companies and the services they offer.
- Sky Blue Credit Repair
It takes Sky blue 30 days to improve on the credit scores of its customers and offers you value for money. They have one of the cheapest rates in the industry. They are reliable when it comes to the services they offer. Sky Blue will fix the errors on your credit report, send goodwill letters to your lenders, and also spot legal loopholes on your credit report. They will capitalize on these loopholes to improve your credit report. This agency also allows you to track the progress on your credit. They will offer you all these services for $69 a month. One thing that makes Sky Blue unique is the fact that you can pause their service until you have enough cash to pay for the service. This agency has a vibrant customer service and you can always rely on them since they are always available to attend to you. Sky Blue has a good reputation based on the results they have produced over the years. Although there are a few negative results, many customers have good things to say about the agency. They have even earned an A+ rating from the Better Business Bureau. They also have a policy that has made them more popular. The policy that allows you to receive a full refund if you are not satisfied with their service after 90 days and offers discounts for couples. For people who want to avoid scams, this feature helps them to trust the agency more. Sky Blue has a simple signup process.
- Lexington Law
This credit repair firm is considered the overall best in the industry. They have staff that mainly consists of lawyers and paralegals. They offer educational tools that will help you to manage your finances very well. Their pricing system is in 3 levels. The more you pay, the more services you get. However, the lowest price offers all the basic services needed for credit repair. They have the Standard Concord plan that offers all the basic features of credit repair services. They will dispute errors on your credit report and also use legal loopholes on your report to improve your credit score. The Concord standard costs $89.95 per month. The Concord Premium upgrades this service and clients are offered credit monitoring services. You can upgrade to this package for $109.95 per month. The third package is the Concord PremiumPlus which costs $129.95 per month. With this service, you will enjoy additional service including identity theft alerts. This agency has built a good reputation over the years. They have an A- rating from the Better Business Bureau. One reason why this agency is preferred by most people is that most of their staff are lawyers and paralegals. You can cancel your subscription at any time and you will only pay for the services you have received. Lexington Law has reliable customer service.
This agency does not only repair your credit, but they also educate you on credit management. They provide videos and articles for all customers. Customers are able to learn more about their credit management. They also have an app for tracking the progress of disputes. You can also estimate your credit score using the education and tools provided. With over 21 years of experience, they are able to improve the credit scores of people who sign up with them. They file disputes on behalf of their customers. They also send goodwill letters to lenders, and they also look for legal loopholes in your credit report to improve your credit score. They do all these for $99.95 per month. Apart from the basic services provided, this agency also provides TransUnion credit monitoring to customers. They also send you updates regarding changes made to your account. They have a responsive customer service team that is readily available to answer all your queries. They do not tie you down with a contract. You can cancel your subscription when you are not satisfied with their service. They will only charge you for the services they have offered to you. This agency has an A+ rating from the Better Business Bureau. This agency has a simple signup process. You can sign up on their website but if you are having problems with the signup process, you can call them to walk you through it.
- Ovation Credit Services
You will receive free credit consultation when you sign up with this agency. They also offer discounts for couples, military personals, and friends. Two close people can sign up together and they will enjoy discounts. They will offer all the basic credit services that will help to get your credit score back on track. They will review your credit report and file disputes based on the errors they spot on your report. They will also send letters of goodwill to your lenders on your behalf. Ovation Credit Services also looks for legal loopholes in your credit report to improve your score. If you want to repair your credit fast because you want to get credit, you can opt for the fast track package. With this package, they will make the processes fast in order to improve your score faster. Ovation Credit Service charges one of the lowest fees in the industry. They charge as low as $59 per month. You can easily end your relationship with them if you are not satisfied with their service. They will not charge any fee for termination. You will only pay for the service you have received. Their customer service is reliable. They are available via phone calls, online chat, and emails. One of the features that Ovation uses to attract more customers is that they will give you a dedicated account manager when you register with them. This account manager will sort out your issues that affect your account. This agency has earned an A+ rating from the Better Business Bureau.
- The Credit People
The Credit People will allow you to try their services for $19 for a week. If you are satisfied with their service, you can sign up for $79 per month or $379 for six months. They will offer you all the basic credit repair services. They will send goodwill letters to your lenders. They will also review your report and file disputes to correct the errors they find on it. They also capitalize on the legal loopholes on your credit report to improve your score. Their customer service is reliable and professional. They have an A+ rating from Better Business Bureau. The Credit People offers 20% discounts for couples. You will also receive a free consultation when you sign up. When you have issues, you can easily contact their customer service and they will help you out.
Which Services Make a Credit Repair Company the Best?
- Upfront Fees
Do not trust credit repair companies that ask for fees upfront. Reliable credit repair companies do not request for fees upfront. Even if you cancel your subscription at some point, these agencies will only ask you to pay for the services you have received up to that point.
You should be able to easily track the progress of your credit repair. Reliable credit repair agencies either have apps or user interfaces that can help you to know the work that has been done on your credit score. The agencies that do not have these will give you timely updates on the progress of your credit repair.
- Transparent Fees
Reliable agencies inform you about the fees you will pay even before you sign up. They will not slap you with unnecessary fees or bills they have not informed you about.
Good credit repair companies do not tie you down with contracts. Whenever you are dissatisfied with their service, you can discontinue easily.
- Compliant with the CROA
The Credit Repair Organizations Act is available to regulate the action of credit repair agencies. It also protects the interest of the customer. If an agency is not ready to comply with the CROA, it is likely that it will not be ready to protect your interest. All the top rating credit repair agencies are known to comply with this Act.
Rudi is a credit analyst who writes articles about credit scores, building credit, and consolidating debt. His know-how on poor credit and credit unions make his input invaluable to our company. There is no credit score out there that Rudi can’t help with.