Have you ever tried to eliminate negative blemishes from your credit report?
If so, you learned that it’s quite possible to get rid of these unwanted items on your report, but it’s never really that easy to accomplish unless you know the system and how it works from the inside out.
According to the Fair Credit Reporting Act, you have the right to ask to have outdated, inaccurate, and erroneous items removed from your credit report.
Why is this important?
Well, these items will have a negative effect on your credit score. And if you have enough of them, your credit score is going to plummet and you’ll have a difficult time convincing lenders to loan you money at a reasonable interest rate.
With that thought in mind, let’s take a look at our best tips to choose the ideal credit repair company to meet your needs.
1. Longevity in the Credit Repair Business
We’re sure you’d be able to find a top quality credit repair company just starting out. But we do not feel it’s worth it to take your chance on an unknown commodity.
In fact, we recommend that you only consider picking a credit repair service that has been in business for at least three years or more.
Well, by being in business this long and surviving for at least three years, it proves that the credit repair service knows what they are doing. Otherwise they would’ve had to close up shop a long time ago.
Plus, newer companies just getting started may have suddenly popped up out of nowhere because there is a huge need for credit repair services and they are trying to take advantage of the situation.
There’s certainly nothing wrong with offering services based on demand, but their motives may be less than pure.
2. They Have a Strong, Positive Rating on the Better Business Bureau
The great thing about the Better Business Bureau is that they take the time to evaluate the success and validity of American businesses. And if someone had a problem with a specific service, they could use the BBB to file a complaint.
Instead of wondering, hoping, and praying that you choose a good credit repair service, you can use the BBB to your advantage and find out whatever information they’ve uncovered when investigating a particular credit repair organization.
All in all, it’s best to find a BBB listed credit repair service that has an A rating or better.
In fact, if you can find one that you like within A + rating, then you should definitely consider letting this company help you out because they’ve proven themselves as a successful enterprise helping people in this industry.
According to CreditRepair.Company, a website showcasing better business bureau approved credit repair companies, “Credit review companies often seek accreditation from the Better Business Bureau, or BBB. This assures customers that the business is committed to maintaining internal compliance with the standards set forth by the BBB.”
3. They Charge Reasonable Fees for Their Services
If you are going to hire a credit repair service to help remove unwanted and erroneous information from your credit report, you should find one that charges reasonable fees.
As an example, a solid reputable company shouldn’t charge more than $500 for their services.
And don’t be fooled by low-cost services that charge on a per item basis.
As an example, let’s say you have two negative blemishes on all three of your credit reports.
If the company charges $50 to remove each negative blemish, you’d think you’d only have to pay $100, right?
These companies typically charge $50 per credit bureau, so you’d actually end up paying $300 to get all of your negative blemishes removed.
If you have five or six things that need to be removed, you’ll end up paying $750-$900 for this very expensive service.
At the end of the day, choose a low-cost credit repair company that has a great reputation in the industry.