We review and compare credit repair companies based on plans, types of disputes and rates to choose the main providers. Our best options can help you choose. An alternative to a debt settlement company is a not-for-profit consumer credit counseling service. These nonprofit organizations can try to work with you and your creditors to develop a debt management plan that you can afford and that can help you get out of debt.
They will usually also help you draw up a budget and provide other types of financial advice. Credit counseling services provide resources to help you resolve your money problems. Counselors analyze your entire financial situation and help you develop a personalized plan. They can help you start a budget.
And they can help you find educational programs on money management. If you have errors on your credit report, you may need help to get it back up and running. While you can fix errors in credit reports on your own and save money in the process, there are companies dedicated to credit repair that can step in to help you. While the success of credit repair companies isn't guaranteed, this can make it easier to discuss errors and contact each credit agency.
When comparing credit repair companies, look for one that is reliable, effective, affordable and has good customer service. These are the six best credit repair companies. Ovation Credit Services has been in business for 45 years. Has built a reputation of trust and supportive customer service.
It helps its customers improve and repair their credit scores through two cost-effective packages. If you don't know which package is right for you, Ovation Credit Services offers a free consultation to guide you. You will have access to their discounts and their risk-free refund policy regardless of the package you choose. It offers discounts for couples, seniors, members of the military and referrals, in addition to a refund policy that states that, during any month, if Ovation Credit Services does not “provide the agreed services, we will not charge you the monthly rates for that month.”.
Lexington Law has been in operation for more than 15 years, making it one of the most reliable credit repair companies. It was founded “to revolutionize the credit repair industry, providing ethical and effective credit repair to consumers in need.”. Through three different service packages, Lexington Law provides clients with a roadmap for building their credit and achieving their financial goals. The Credit Pros has been in business for 12 years.
It offers a personal credit management and repair platform powered by artificial intelligence (AI) and includes credit monitoring at no additional cost. Other credit repair companies include credit monitoring as an additional service. Before starting to work with The Credit Pros, potential customers can schedule a free consultation in English or Spanish. This is a practical way to see if the company fits your specific needs and what package would best support you.
Sky Blue Credit has been in operation for more than 30 years and offers a unique and simple credit repair service option. Their service includes everything a customer needs to find and challenge errors in their credit reports and repair their credit scores. Unlike other credit repair companies on this list, there's no need to upgrade the most expensive packages. According to Sky Blue Credit, customers are told that the credit repair process can take up to six months; however, they can cancel anytime during that period at no additional charge.
Credit repair occurs when consumers work with companies that specialize in eliminating errors in credit reports with the intention of increasing their credit rating. Depending on the company a person works with, they can access a number of additional features, such as free credit rating updates, writing cease and desist letters to debt collectors, or even writing letters of recommendation to lenders with whom they apply for a loan. While many companies announce how many negative entries they have eliminated, there are no reliable statistics that demonstrate the effectiveness of credit repair companies. Credit repair companies can help you eliminate negative items from your credit report, but it's not guaranteed to be successful.
Because you can do everything a credit repair company can do on your own, it's often best to take the time to review your credit reports on your own and file any disputes. Doing the work yourself is completely free, which will save you hundreds of dollars that you would have to pay to a credit repair company. Yes, credit repair companies can eliminate bankruptcies and collection accounts in certain cases. Agencies must also provide you with a copy of the document “Consumer Credit File Rights Under State and Federal Laws,” a document that is intended to inform you of your right to request credit reports and to challenge inaccurate information yourself.
If you're interested in using a credit counselor, the National Foundation for Credit Counseling offers low-cost debt counseling, debt consolidation, and debt management plans. Make sure you pay all your debts on time or in advance, don't use more than 30% of your total credit limit, refrain from submitting multiple credit applications in a short period of time, and spend only what you know you can afford. All plans include access to The Credit Pros mobile app, which allows you to review disputes, receive real-time updates, and monitor your credit rating and report. The addition of these services allows Credit Versio to track any changes to your credit report in case you need to send more dispute letters.
When looking for credit repair companies, you'll likely notice that different companies offer slightly different services, prices, and customer service options. The three major credit bureaus (Experian, Equifax and TransUnion) offer free weekly credit reports for the next year. Credit Versio offers three plans that offer unlimited letters of challenge and credit reports and monthly credit scores. Its service package includes unlimited disputes, a credit analysis, interventions with creditors, monthly rating updates and credit monitoring.
It's worth noting that Sky Blue Credit Repair offers one of the most flexible subscriptions on the market and a 90-day money-back guarantee. The credit repair industry is strictly regulated and must comply with the provisions of several federal laws intended to protect consumers. Even so, the improvement period may be shorter than if you decided to repair your credit on your own. .