How do you know if a credit repair company you’re about to trust with your most personal information is the best choice for your needs? Are there warning signs to look for? Which features should you consider, and which ones should you discard as sales hype?
To answer such questions you first have to think about your personal needs, your current situation and your future goals. A credit company that’s perfect for me may not be so well suited for someone else.
We’ve compiled a list of guidelines you should look for when trying to find a good credit repair company. They are in no order of importance, but should all be considered when you’re looking for the best company to handle your financial needs.
Without a doubt, this is probably the most important aspect. We each have our own unique circumstances when it comes to our credit issues. No two people have the exact same credit issues. Your finances are not the same as mine, neither are your goals and nor should your credit repair plan.
If you don’t get a consultation that builds a custom plan built around your personal situation – I wouldn’t waste a dime. Anybody that says “Send us your reports, tell us what to dispute and we’ll do the rest” could really mess things up for you.
A decent consultation is going to take anywhere from at least 30 minutes to an hour and should be very personal. It should be about your own, individual situation, not someone on the phone telling you about the history of their company, how many clients they’ve had, and things they’ve done.
Hiring a credit repair company is not about them. It should all be about you and what they can do to better YOUR situation. If it sounds like they’re reading from a script the entire time, most likely you’re not talking to the right company.
Call around; get a free consultation from everybody your considering and I promise – you’ll know which one is right for you.
They Don’t Take Money Up Front
First off, this is down-right illegal. Avoid any company that wants you to pay for credit repair services before they provide any services. Think about it, if you’re going to pay someone to help repair your credit, shouldn’t they have at least seen your credit first? How else will they know if they can help you? Any company that asks for money before they’ve even seen your credit is trying to scam you.
In compliance with the Credit Repair Organizations Act, credit repair companies should only charge for credit repair services after they’ve been fully rendered. Here at Infiniti Financial, your initial payment to us is made after we’ve completed your customized case set-up, assigned your personal credit advisor, completed your initial phone consultation, comprehensive credit report analysis, and prepared the first round of custom dispute letters to be mailed out.
They Try to Educate You
Your credit is going to follow you for the rest of your life. With credit practices always changing, it’s in your best interest to work with a company that’s going to take the time to educate you on issues that could affect you most. Newsletters, articles, reports, and advice are just some of these ways.
A good company shouldn’t just help you repair a few items and then send you back out into the world. It’s a good chance you’ll end up in the same bad situation again. You want a company that will not only help you repair mistakes of the past, but also prepare you for your financial future.
This may, or may not apply to you but I highly recommend you talk to your credit repair company and make sure it’s an option. Even the best credit repair company is not always going to get everything removed. If a company tells you they can get everything wiped off your credit, I’d run in the opposite direction. First of all, if any company makes such a claim to you, it’s illegal. Think I’m kidding? Click here to read the facts from the federal government. Company’s use that tactic just to reel you in and get your money. Then they’ll make excuses down the line as to why they couldn’t deliver.
Great track record with the Better Business Bureau
Again common sense. A company with numerous complaints is a major red flag. If they’ve screwed over dozens of other people, why on earth would you want to trust them with either your money or your credit?
Don’t just sign up with a company because they make all sorts of huge promises and claims. Protect yourself.
Help With Establishing New Credit
Having good credit is more then just removing negative items. Equally important is making sure you have the correct balance of positive accounts being reported on your credit each month. Many people with bad credit need help establishing new trade lines. If you’re one of them, this is something I would add to your checklist. You don’t want to choose a company that’s only going to write letters and dispute items. That alone won’t raise your credit score. You need a company that’s going to lay out a plan to help you improve your credit as you go along.
They Do Much More Than Just Write Letters
Effective credit repair is about much more than just writing letters to credit bureaus. A good company will educate you on ways to keep your credit in great standing for years to come. Whether discussing budgeting, financial planning, investing, or getting out of debt, the credit repair company you choose should help prepare you for a long, successful financial life.
So there you have it. Selecting the right credit repair company can save you both time and money in the long run. With the right team on your side you should be able to repair the mistakes of your past and move forward to a bright, prosperous future with 700+ credit scores.
Wishing you the best.