This is a sponsored conversation with Lexington Law. All opinions are 100% our own.
Have you ever been denied a loan or credit card due to poor credit score and now need to hire services of a credit repair company? Sometimes it can be a tough decision but it’s definitely a positive move towards the right direction. Your credit score affects your life far too much to not take it seriously.
However, you need to be very careful with your choice of a credit card repair company. Take your time to understand how these companies operate, things they can help you out with and those they can’t. This way, you will avoid further credit score troubles.
Most legitimate credit repair companies will undoubtedly help you polish up your poor credit history and scores. They will negotiate on your behave and have the negative listings on your credit card history removed where possible.
Often times they will also advise you on how to increase your rather unpleasant credit score. For example, the company may advise you to settle debts for certain cards or pay it to a given level.
Although it is still possible to file a dispute regarding your credit card on your own, it can be extremely helpful to have a knowledgeable person guide you through the process. Having a reputable credit card repair company guide you through really helps.
Making the decision to hire a credit repair company is just the initial step. Picking up the right company is the real test since, in the past, credit companies have had a bad reputation. But no need to worry, there are some legitimate and honest credit repair companies out there who have been known to give their clients awesome results.
There are also many high credit score habits you can learn from those that have been successful in maintaining an excellent credit score. Making a few small changes in your life can have a very strong positive impact on your finances.
What to look for when choosing a credit repair company
Before you have decide to hire a company to repair your bad credit card history, you need to consider the following:
1) Does the credit repair company offer a money back guarantee?
This might surprise you but a good credit card repair company will not offer a money back guarantee. Not only is it illegal to guarantee results for credit repair, it is impossible to predict the actions of your creditors or the credit bureaus.
If you come across a credit repair company offering to fix your credit in 30 days, run! Repairing your credit score is not a fast process. It takes a well planned out strategy and time.
Basically, money back guarantee policy is one of the best ways of distinguishing between a legitimate credit repair company and a company that is blowing smoke up your butt.
2) Does the credit repair company offer fixed price programs
If you come across companies offering incentives where you are required to do monthly sign up for their services, avoid them like a plague. Go for the credit repair company that has fixed price programs for their clients.
This way, you will avoid wasting a lot of time with the incentives that hook you up for days or month before you can have your problem solved. So ask, a credit company whether they do have fixed price programs or not first before deciding to hire them.
Always go for services of a credit repair company with fixed cost programs and specified time duration.
3) Does the company have upfront fees?
According to a federal law known as Credit Repair Organization Act, it is illegal for any credit repair company to accept any payment until the services that they are offering are completed.
Therefore, avoid companies that charge you upfront fees. Such companies are scammers and illegitimate. Paying upfront fee means you are at the mercy of the company either to help you out or escape into the thin air with your hard earned money.
4) Consider the expected time frame of completion
A legit credit repair company should be able to give you a clear timeline after accessing your credit card repair case. Avoid companies that employ a ‘wait and see’ approach to clients’ needs.
5) Does the credit repair company have a physical address?
Avoid companies that do not have any physical location. Most of these companies are illegal and will just run off with your cash and you will have nowhere to look for them.
This doesn’t mean that companies with real location can’t fly at night! Take time to know how long the company has been in existence and its reputation.
This is one of the main reasons we suggest using Lexington Law for your credit repair needs. They have been in business for many years and have helped hundreds of thousands of clients take action to repair their credit. They also have all of their contact information and physical addresses easily accessible right on their contact us page.
Additional “red flags” to look out for
Besides the above considerations, you need to be alert of the following red flags as you embark on the search for the perfect credit repair company.
- Companies with no written agreements
- Those that provide simple and hasty credit repair services
- Companies that have complaints raised against them.
- Those that claim they can offer guaranteed scores raise or remove errors.
- Companies asking you to lie when making a statement about your credit card.
- Companies purporting that they can eliminate genuine negative listings on your credit card.
Additional good signs to recognize in a credit repair company
The following good signs should act as a guide when searching for the right credit repair company. Actual legit and trustworthy credit repair companies should have the following qualities:
- Long-standing quality track record of services.
- Clearly able to explain your many options.
- One that offers free consultations.
- One that has an attorney as one of the staff.
- One that has a physical location
- Does not have a money back guarantee and makes no promises to the effectiveness of their services (actually illegal).
- One that has met the demands of the local laws such as being bonded, licensed and duly insured.
If you follow the above tips when searching for the right credit card repair company, we are sure you will land in safe hands and your issues will be resolved. With time, you will regain your credit trustworthiness and be able to access credit facilities with ease.
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