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credit card guide

1. credit card repair

Choosing credit repair to fix our credit is something so worrisome as there are scammers out there and those who charge exorbitant prices to maintain their customer’s credit reports.

Here, we have gathered some best credit repair companies to support you make a rightful decision. If you missed any part of this article, you can utilize the links on this page to read them.

CreditRepair.com

CreditRepair.com claimed to have filed over 23 million credit challenges and disputes on behalf of its clients since its inception in 2012.

While they started to have helped their clients remove over 7.5 million over the last decade.

According to the company, their clients testified of their credit scores increased by an average of 40 points within six months of engaging in their program.

Their plans range from $69.95 to $119.95 per month. With each of their plans, a “first work fee” equal to the monthly plan fee is required.

 

PROS
• Free online credit evaluation to discuss your options
• The mobile app and online client dashboard make it easy to monitor your progress

 

CONS
• Upfront fee required to get started
• No money-back or satisfaction guarantee

 

2. Credit Repair Guide

Working with a credit repair company can make the process of fixing errors on your credit report, easier.

The fact is, these companies know exactly which steps to take to repair your credit and engage in the demanding task to get your credit fixed.

 

3. How Does Credit Repair Work?

Credit repair is a term that describes the act of taking your credit to an agency to fix incorrect credit information on your credit report. They offer this in exchange for a fee that is usually paid monthly.

Credit repair companies can look into incorrect information, false reporting, and credit report errors that can reduce your credit score. They remove these errors and help increase your credit score.

 

4. How Long Does Credit Repair Take?

Correcting and fixing credit reports takes time, whether you engage it yourself or you hire a firm to assist you.

Most disputed credit report information includes incorrect credit balances, false reported late payments, accounts falsely flagged as in collections, etc.

While these firms can dispute your credit score, removing collections from your credit report which are accurate is impossible.

The Federal Trade Commission (FTC) also reminds us that we can’t remove accurate
information from our credit reports.

 

5. How is Credit Repair Different from Credit Monitoring?

Credit monitoring provides oversight of your credit reports and reporting of their findings.

They can as well oversee one of our credit reports or all three, and they sometimes offer some perks
like free credit scores, dark web monitoring, Social Security number monitoring, and more.

While they help you know when events are playing out on your credit reports, they do not
dispute information like credit repair agencies.

It’s important to know that credit repair is quite different from credit monitoring. As credit repair
agencies dispute your credit information, credit counseling firms will discuss the moves you can
make to improve your credit score on your own.

 

6. Is Credit Repair a Scam?

According to the Federal Trade Commission (FTC); credit repair and debt relief scams were
prevalent during the pandemic.

And those who are financially distressed and with credit problems are mostly victimized.

“These operations lure consumers to purchase their services by falsely claiming that they will
remove negative information from consumers’ credit reports even if that information is accurate,”
says the FTC.

However, no legal credit repair company can make such claims as it is illegal for
credit bureaus to remove accurately reported information on any person’s credit report.

With FTC drafting numerous law enforcement actions and lawsuits against bogus credit-related
services.

FTC amended its Telemarketing Sales Rule in 2010 to prohibit for-profit companies
using telemarketing from charging an upfront fee.

The rule “also prohibits debt relief providers from making misrepresentations and requires that
they disclose key information that consumers need in evaluating these services,” they write.

 

Final thoughts

Having read from cover to cover of best credit repair companies in America, there are many
reputable companies out there including firms that promote upfront and transparent pricing and
offer a satisfaction guarantee.

If you require fixing your credit, you can choose from our list as
detailed on all the pages harboring this list.