This article answers the question many ask: Do credit repair companies work? There’s a rumor spreading across the internet that credit score improvement companies do not work or only work for some people.
This is an important topic so we will answer this question in the best way possible so that you’re well informed and understand why credit repair companies may benefit your credit score.
If your credit score rating is lower than you believe it should be, finding the best credit card repair company is a top priority. During your research, verify that the credit repair company is valid, reputable and able to improve your credit score.
A high credit score can save you thousands of dollars annually and is one of the key factors creditors use to determine whether to loan you money or not and if so, at what price?
There Are Two Types of Credit Repair Companies
Debt Control Agencies:
Credit repair organizations permit you to increase your score using two methods:
- By disputing negative items impacting your credit
- By creating debt-control methods
The first method of disputing negative items that impact your credit score is one of the most effective methods. Why? Once a credit repair company works with your creditors, they are required to prove that the damaging items are accurate.
At that time a full review of your credit history with them takes place and they assess whether the dispute is legitimate.
If the claim is found to be inaccurate, the creditor will remove the item in question. On the other hand, if the negative item is valid, depending on the credit repair company’s ability to address your concern, you may be stuck.
The second method, of undergoing a debt-control process, is more time consuming yet, also very effective. This process requires a willingness to understand how debt works and be able to implement strategies to decrease the amount of debt owed.
If this method appeals to you, we recommend you review this site: https://www.clearpoint.org.
Corporations like Clear Point are helpful and offer a step-by-step approach to becoming debt free with a debt repayment plan.
Another perk of a debt management plan is that it permits you to make one monthly payment, so you’ll no longer need to track several payments due dates. Typically, these programs can reduce your monthly payments by 20%.
When it comes to disputing items on your credit report it’s recommended to find a trusted credit repair company like BetterCredit.com
Most credit repair companies start with an in-depth evaluation of your credit score reports from the three main credit bureaus: Equifax, Experian and Transunion.
From there, the company will review their findings with you and create dispute letters that are sent to these bureaus. They work on your behalf to object the negative items listed on your credit report.
Legally, you’ve got a right to dispute any negative claims on your report. If any item is: inaccurate, deceptive, incomplete, ambiguous, unverifiable, biased or uncertain, you may be able to dispute it with the credit bureaus.
If the item can not be proven by the bureau, then it can be removed from your credit file.
Another question we receive is ‘What does “unverifiable” mean?’ Here’s an example: If one of your creditors closed their business after the item was listed on your report, there’s no way for the credit bureaus to confirm if the item on your record is legitimate.
This means that the bureau will likely remove the negative item from your record.
Whichever method you decide to use to improve your credit score, be sure to weigh the pros and cons.
If you’re looking for a hands-off way to increase your credit score, credit repair companies can work well for you.
A long-term credit reduction strategy may be the solution you’re looking for if you’d like to reduce your debt and manage your payments.
With so many credit repair companies available, how do you choose the best one?
First, research them on the internet. Find out if they are a legitimate company. Next, find out if they are rated on the BBB or Better Business Bureau.
While credit repair companies can’t guarantee that your credit will be 100% restored, as that would be a scam, it’s possible for credit repair companies to significantly improve your creditworthiness in a relatively short amount of time.
What To Expect With Better Credit
If you’re considering working with a credit repair company, we recommend you contact Bettercredit.com today and speak with one of our credit repair experts.
Once your questions are answered, you’ll discover what we can do for you and how we work immediately on improving your credit score. Once you become a Better Credit client, you’re able to monitor your score daily. This allows you to watch the progress we make as your credit score increases.
Contact us today if your credit score has been negatively affected.