Hiring Credit Repair Services: Everything You Need to Consider
Finding the right professionals to help fix your credit requires knowing your options. Here is everything to consider when hiring credit repair services.
Keyword(s): hiring credit repair services
About 53 percent of Americans have been turned down for a loan, credit card, or vehicle as a result of poor credit. It’s an indication of just how essential having stellar credit is in today’s economy.
Bad credit indicates your record of failures to make timely payments for your bills or loans. To creditors, it’s a sign that you’re likely to default on payments in the future. That’s why few lenders are willing to work with borrowers with bad credit.
Thankfully, you don’t have to remain stuck with bad credit forever. By hiring credit repair services, you can start to build your credit and get back into creditors’ good books.
But with about 43,286 businesses in the US that offer credit repair services as of 2021, how do you tell which one to partner with? Here are five factors to consider so you get the best possible credit repair partner.
The Company’s Past Reviews
A service provider’s reputation is arguably the biggest indicator of what credit repair experience you can expect to have. What other people have to say about the company will provide you with deep insights into how the company handles its clients.
Read online customer reviews to see whether people say good things about the company you’re considering. Of course, it’s normal for even a great service provider to have a few negative reviews, so don’t make up your mind based on one or two unfavorable comments.
Similarly, beware of reviews that are overly positive, especially those that contain too many relevant keywords as they may have been intentionally planted to lure in potential clients.
How Well-Written the Contract Is
Once you’ve checked out reviews about the company and are satisfied with what you see, it’s time to move on to the next step. This step involves establishing a well-written contract with the service provider.
Ensure that the contract outlines all the costs clearly, as well as the methods for improving credit scores that the company uses. More importantly, the contract should clearly state the expected results.
A top credit repair service provider will have no problem drafting an agreement that benefits both parties. If the company you’re talking to tries to convince you that no such contract is needed, it’s a massive red flag. There’s a good chance the company will offer subpar services or scam you in some way.
Always take enough time to read the agreement presented to you thoroughly.
Not all credit repair services offer exactly the same credit repair service features. If this were the case, choosing which service provider would be as simple as opting for the one that charges the lowest price.
Most service providers will help you pull credit reports. Besides this, there’s an array of features you can choose, depending on your specific needs.
Consider the number of disputes your repair service provider will file for you, as well as how often they’ll file these disputes. Some top providers offer unlimited disputes, while others cap the number at a given figure, such as ten disputes a month. Generally, you want a company that offers as many disputes as possible, especially if your credit history is both long and complicated.
Other attractive features you may look for include credit monitoring, money-back guarantee, couples discounts, and identity theft protection.
While the reviews you read about a credit repair service provider can give you an insight into whether or not they offer stellar customer service, it’s good for you to test the company out for yourself.
Give them a call or send them a message and see how responsive they are. If your call goes unanswered or they take days to respond to your email, then it’s a clear indication they are not good communicators.
Ask questions during your first consultation call or visit to find out more about the company. Observe whether the agent you talk to is genuinely interested in getting you the help you need. Are they warm and friendly, or do they seem to be in a hurry to make a quick sale over the phone?
Even if a company has a strong reputation for delivering on every promise they make, their services should never be so high that they drive you bankrupt. The best credit repair service provider will charge reasonable prices.
Do enough research to learn the current rates charged by credit repair services. Get quotes from a number of service providers and compare them, ruling out any providers who clearly charge extortionate credit repair service prices.
Go through the contract to check what features you’re paying for, striking out anything you don’t need.
That said, you should also be wary of credit repair companies that charge suspiciously low rates. If a company charges unrealistically low prices, it could be a move to entice clients and scam them by providing unsatisfactory services. Some of these companies also charge hidden costs, meaning that you end up paying much more than what the contract indicated.
Insist on a money-back guarantee to ensure that whatever claims the company makes, they can back up.
Hiring Credit Repair Services Doesn’t Need to Be a Pain
Just because you have a less-than-stellar credit rating doesn’t mean you’re doomed. By hiring credit repair services, you can start to build your credit and get your financial life back in order within no time. The secret is to ensure that you hire a credit repair company with a reputation for delivering on its promises.
Are you interested in getting your credit back on track? Contact us today and learn how we can help.