If your credit report is a complete mess, and your credit score is low, you may have some trouble getting loans and credit card approvals.
Bad credit causes most people to stagnate financially and leaves them unable to make any big decisions concerning money. Your credit score – which we have explained in great details in this article, determines most of your financial decisions.
Basically, this is what most lenders use to determine whether you are creditworthy or not. They will also decide on whether to approve your loan requests or credit card requests based on the information on your report.
It is therefore essential to ensure that you have a good credit score, and this is not something that you can ignore until you leave college. I always say that the earlier you start taking control of your finances, the better.
So, if you are like most people and have made a mess of things, such that your credit report reflects a sorry state of affairs, which is preventing you from getting good loans or credit card limits, do not worry, the good news is that this is not a permanent solution, and there are ways of correcting the situation.
Now, one of the simplest methods to improve your credit score is by consulting with a credit repair company that will take you on a step by step process of improving your status.
There are many companies that deal with this particular task, and I shall look at 5 of the best credit repair companies today;
The best credit repair companies
Any company that is doing this particular job of helping people improve on their credit reports must be well-versed on the Fair Credit Reporting Act – FCRA. This is a body that protects consumers from any company that may cause negative or inaccurate information to be added on their reports, either willfully or through negligence.
It is also extremely important for you to be careful before handing over your money to just any company that will promise you a quick fix. The truth is that credit repair is not a quick job. It takes time. Think of it this way, it took time to mess up your credit, and therefore, it will take some time to repair it.
This company operates in most US states except North Carolina and Oregon. It was founded in the year 1991, and it mostly specializes in analyzing any credit reports that have misleading or incorrect information.
Their work is to challenge creditors and the credit bureaus until they remove such information from the credit report.
The company doesn’t make any unrealistic guarantees to their customers, but in 2017, they claim to have been able to remove more than 10 million items from their customer’s credit reports.
On Trust Pilot, the company has over 34 reviews with a 74% rating as excellent and only 11% negative rating.
Credit repair is one of the most popular credit repair companies today, and this is due to their easy to find website. The company is based in Salt Lake City, Utah, and was founded in 1997.
They offer standard services that will help you when you have a misleading or disputed item in the credit report.
There services are offered using a three-step approach; – the check – challenge – Change.
This process checks the report, challenges the items reported on the report, and then seeks to change them so they can be permanently removed. As a result, they will help you improve your credit report and also improve your credit score.
They claim that some of their clients have been able to gain up to 40 points on their TransUnion credit reports within a period of 4 months only. Within a period of just one year, they are able to improve your score by up to 70 points.
On Trust Pilot, the company has at least 454 reviews with 68% good reports and only 11% bad.
They can easily be found online, where you can be able to call them to start the process of repairing your report.
This is a good company that has received a good amount of positive reviews, and I would greatly recommend them to anyone within the states where they operate. In fact, their website’s user interface is considered to be one of the best, with constant alerts and great interaction.
This company is based in Cottonwood Heights, Utah, and you can trust them to remove negative items from your credit report. It is one of the least expensive credit repair companies in the US, and most of their work is based at improving your credit in order to make it easy for you to access any amount of credit that you are interested in.
They follow the “score-driven approach,” that works at raising your credit score, by use of any possible means, not just the elimination of negative items in the report.
This approach includes offering you advice on when you should open or close accounts, whether you should apply for new credit cards and also, they will give you tips on how to keep your debt low.
They, however, do not make any specific promises of success, and they claim to have been very successful at the removal of information such as bankruptcies and foreclosures, for incidents that may have happened as far back as seven years ago.
They have a fixed price of $79 per month, but they allow you to try out their service at $19 for the first seven days. If you happen to sign up with your spouse at the same time, you shall both be entitled to a $20 discount.
They normally promise to assign as many as three people on your account, but if you like a more personalized care, they can give you one agent to work with.
This is a fairly new company that was started in 2015. They have however already generated lots of positive reputation, and on TrustPilot, they have 53 reviews with the highest positive rating in the market of 94%. They only have a 6% rating of simply great.
The sign-up fee is $99 if you are single, and $198 for couples, you shall get access to a dedicated dispute manager, whose responsibility is to fix your credit report for you.
One of the activities they shall do is to send letters to your lenders, in order for them to lower your existing loans, and also fix any mistakes that may be in the report. They will help to remove these items, even if they have been on your report for the last seven years.
You need to note however that not every item can be removed from the report, but do not allow this to frustrate you. It may be a long process, and what you need to do is remain positive and be patient, because if they are able to remove just one item from the report, it can greatly improve your credit score.
This company comes highly recommended, despite the fact that they have been in the market for a short period of time, but on TrustSpot and Yelp, they have a 5-star rating, which is pretty great.
This company has an A+ rating from the Better Business Bureau, and it is based in Oakland, N.J. It is a company that offers you a 3-tier service if you are looking to have some items expunged from your credit report in order to have a better score.
Their 3-tier service offers you the opportunity to pay for what you want, rather than paying for services that are not important. Unfortunately, their lowest tier only offers specific disputes and does not include bankruptcies and judgments.
It has an online portal that you can use to track the progress of your disputes and also allows you to follow the credit repair process. Each account has a team of at least four people, who are available 24 hrs. A day, to offer assistance and answer all of your questions.
They do not have a limit on the number of disputes they can handle, neither do they charge an additional fee for retrieving your credit report as other companies do.
Their prices range from $59-$99 per month, which is reason enough, and in addition, they offer a 90-day money-back guarantee.
This company is an excellent choice for people who wish to receive specific assistance on their credit repair. This is due to the fact that you can choose the services you want to receive from the company.
These are a few of the companies that offer to help you improve your credit report and most especially your credit score. If you give them an opportunity, they are more than willing to help you achieve what you are looking for.
It is, however, important for you to note that taking care of your finances is your own responsibility, and it is vital that you learn the basic steps of achieving financial security.
First of all, if you are not yet in a mess, avoid things such as; too much debt, high credit card debts, maximizing on your card limit, etc.
If you must borrow, ensure to borrow only what you need because anything extra will only increase your debt and it could be money that you really do not need.
Finally, try to find ways of repaying your loans while still in school, rather than waiting until you graduate.