Are credit repair services legit?

Legitimate credit repair companies can ensure that inaccurate information is removed from your credit reports so that it doesn't damage your credit rating. Understanding Credit Repair · How Credit Repair Works Legitimate credit repair companies can ensure that inaccurate information is removed from your credit reports so that it doesn't hurt your credit score. However, they can't do anything for you that you can't do for you if you're willing to put in the time and effort. Credit Saint also gives you access to a credit rating tracker and monitors changes to your Experian report.

In addition, it has a 90-day money-back guarantee if you don't see any changes in your credit history after three months. Despite this, Lexington Law remains a powerful player in the industry and offers the advantage of having an experienced law firm handling your case. The organization offers free credit counseling to help identify steps they can take to repair their credit, as well as to improve their overall understanding of their finances. The company's free consultation is available in English and Spanish, something that is not common in the credit repair industry.

All plans include access to The Credit Pro mobile app, which allows you to review disputes, receive real-time updates, and monitor your credit score and report. Credit Saint offers a free consultation to assess your unique situation, your credit scores from the three main bureaus and to identify the next steps you need to take. Adding these services allows Credit Versio to track any changes to your credit report in case you need to send more dispute letters. If the information is accurate, there is little that anyone, even a professional credit repair company, can do little to change it.

As with personal credit, you can pay a credit repair company to clean up your business credit, or you can do it yourself. Get the basics you need to stay on top of your credit, including access to 1 agency credit rating, Equifax credit report blocking, and alerts. Credit repair companies are helpful if you can afford the service and don't have time to dispute the items. Most credit repair companies charge a monthly fee and offer several packages ranging from basic to advanced.

They work with credit bureaus and creditors on your behalf to eliminate errors from your credit report. That said, you can do everything credit repair companies do on your own and avoid paying costly monthly fees. Credit scores are calculated based on information in the consumer's credit report, and sometimes that information is inaccurate. One of the agencies that oversees the industry is the Consumer Financial Protection Bureau (CFPB), a federal organization that protects consumers from fraudulent or abusive practices by banks, lenders or any type of financial institution, including credit repair companies.

Gwen Dasilva
Gwen Dasilva

Entrepreneur. Proud coffee advocate. Wannabe music fanatic. Certified twitter enthusiast. Coffee geek.