Credit repair services work on your behalf to remove any negative item on your credit report using legal means. You need to take a few steps to verify whether a particular company is legitimate or not. Unfortunately, there are some scams out there, and even legitimate credit repair companies are not all equal.
What are some negative items you could potentially have removed? Charge-offs, late payments (certain circumstances), debt collections, liens, bankruptcies, and more. There are always various circumstances to consider. The right company will let you know what you can and cannot remove. Keep in mind that if your report’s negative information is accurate, it will be harder to have it removed. If they seem suspicious about how they plan on getting it removed, this might be a red flag.
How much does it cost to get your reports fixed? It depends on which of the legitimate credit repair companies you end up choosing. Each has its payment system. However, you should never be charged right off the bat. They should not charge you for anything until they begin the work and start to see results.
It’s typically charged monthly, but it could also be a one-time fee. The only setup charges you might have to pay are so that the firm can access and view your credit reports. If there are only one or two negative items you see, you might even want to try the DIY route. The credit bureaus have around 30 days to investigate the information and verify it upon receiving your dispute letter.
Legitimate Credit Repair Companies You Can Verify
How can you verify a company? How do you know if it is legitimate? One thing to do is to read reviews on the BBB website and other sites specializing in financial /credit repair/debt management services for an in-depth study of each company. You might also want to look at the Consumer Financial Protection Bureau’s database for some complaints. Furthermore, stay away from any websites that make “guarantees” or “promises” that are too good to be true.
It’s a plus if you work with a company that has lawyers or paralegals in its network and that they’ll assign a paralegal to your specific case.
Which firm should you consider working with first? There is always Lexington Law – it is still on the list of legitimate credit repair companies. It’s available in most areas and states, despite its name. Get a free consultation and support with the online chat.