If you have a low credit score, you may be wondering how to improve it and get access to better financial opportunities. Credit repair is the process of fixing errors and inaccuracies on your credit reports that may be hurting your score. However, not all credit repair methods are effective or legal, and some may even backfire on you.
In this blog post, we will share some of the do's and don'ts of credit repair, based on our experience as one of the best credit repair companies in Philadelphia. We will also explain how we can help you achieve your credit goals with our personalized and affordable services.
Do: Check your credit reports regularly
The first step to repairing your credit is to know what's on your credit reports. You can get a free copy of your credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) once every 12 months at AnnualCreditReport.com. You can also get free access to your credit score and report from various online platforms.
Review your credit reports carefully and look for any errors or negative items that may be lowering your score. These may include late payments, collections, charge-offs, bankruptcies, foreclosures, judgments, liens, or identity theft. If you find any mistakes or outdated information, you have the right to dispute them with the credit bureaus and request them to be removed or corrected.
Don't: Pay for credit repair services upfront
According to the Credit Repair Organizations Act (CROA), a federal law that regulates the credit repair industry, credit repair companies are not allowed to charge you any fees before they perform any services for you. This means that you should avoid any company that asks you to pay a large upfront fee or sign a long-term contract before they start working on your case.
Instead, look for a reputable and transparent company that offers a free consultation, a clear explanation of their services and fees, a money-back guarantee, and a cancellation policy. For example, at Credlocity, we only charge a reasonable monthly fee after your free 30-day trial. We also offer discounts for couples and referrals, as well as a 180-day money back guarantee.
Do: Educate yourself on credit repair laws and best practices
Credit repair can be a complex and confusing process, especially if you are not familiar with the laws and regulations that govern it. That's why it's important to educate yourself on how credit repair works, what your rights are as a consumer, and what you can and cannot do to improve your credit.
For instance, you should know that:
- You have the right to dispute any inaccurate or incomplete information on your credit report with the credit bureaus or the original creditors.
- You have the right to cancel any contract with a credit repair company within three days of signing it without any penalty.
- You have the right to sue any credit repair company that violates the CROA or other consumer protection laws.
- You cannot legally remove accurate and timely negative information from your credit report, such as bankruptcies or tax liens.
- You cannot legally create a new identity or credit profile using a different Social Security number or employer identification number (EIN).
- You cannot legally pay someone else to use their good credit history as your own.
Don't: Fall for unrealistic promises or guarantees
Some credit repair companies may claim that they can boost your credit score by hundreds of points in a matter of weeks or months, or that they can remove any negative item from your credit report regardless of its accuracy or age. These are unrealistic promises or guarantees that are likely to be false or illegal.
The truth is that no one can guarantee a specific outcome when it comes to credit repair. The results may vary depending on your individual situation, the type and severity of the errors or negative items on your credit report, the response time of the credit bureaus and creditors, and other factors. Moreover, some negative items may take longer than others to be removed or improved, such as bankruptcies or judgments.
Therefore, you should be wary of any company that makes exaggerated claims or promises about their services or results. Instead, look for a company that provides realistic expectations and honest communication about their process and progress.
Do: Hire a professional and trustworthy credit repair company
While you can try to repair your credit on your own, it can be a time-consuming and stressful process that requires a lot of research, paperwork, and follow-up. That's why many people choose to hire a professional and trustworthy credit repair company to handle the process for them.
A good credit repair company can save you time and hassle by:
- Analyzing your credit reports and identifying the errors or negative items that are hurting your score
- Disputing the errors or negative items with the credit bureaus and creditors on your behalf
- Negotiating with the creditors to remove or improve the negative items
- Monitoring your credit reports and score and updating you on the changes and improvements
- Advising you on how to maintain and improve your credit score in the long term
However, not all credit repair companies are created equal. Some may be more experienced, effective, affordable, and customer-friendly than others. That's why you should do your research and compare different companies before you choose one.
Don't: Hire just any credit repair company
As we mentioned earlier, the credit repair industry is regulated by the CROA and other consumer protection laws. However, there are still some unscrupulous or incompetent companies that may try to scam you or provide poor service.
Some of the red flags that you should watch out for when hiring a credit repair company are:
- They ask you to pay upfront fees or sign a long-term contract before they perform any services
- They make unrealistic promises or guarantees about their services or results
- They advise you to dispute accurate or timely information on your credit report
- They advise you to create a new identity or credit profile using a different Social Security number or EIN
- They have a lot of negative reviews, complaints, or lawsuits from past customers or regulators
To avoid hiring a bad credit repair company, you should check their reputation and credentials online. You can look for their ratings, reviews, testimonials, accreditation, and complaints on websites such as the Better Business Bureau (BBB), Trustpilot, ConsumerAffairs, Google Reviews, Yelp, and others. You can also check their registration and license with your state attorney general's office or consumer protection agency.
How Credlocity can help you repair your credit
If you are looking for one of the best credit repair companies in Philadelphia, look no further than Credlocity. We are a locally owned and operated company that has been helping people improve their credit scores since 2008. We have a team of experienced and knowledgeable staff who work with all three credit bureaus to remove or improve the errors or negative items on your credit report.
We offer personalized and affordable services that suit your needs and budget. We have three packages to choose from: Fraud Combat Package, Aggressive Package, and Aggressive Couples Package. Each package includes:
- A free consultation and credit analysis
- A dedicated case manager who will guide you through the process
- Unlimited disputes with the credit bureaus and creditors
- Monthly updates on your credit reports and score
- Access to our online portal where you can track your progress and communicate with us
- Tips and advice on how to maintain and improve your credit score
Our prices are transparent and fair. We offer a 30 day free trial and a monthly fee starting at $39.95 for the Fraud Combat Package, $119.95 for the Aggressive Package, or $189.95 for the Couples Aggressive Package. We also offer discounts for referrals, as well as a 180-day money back guarantee. If you are not happy with our services within 180 days, we will refund your money.
We are confident that we can help you achieve your credit goals with our proven methods and excellent customer service. We have helped thousands of customers increase their credit scores by an average of 100 points in six months. We have also received many positive reviews and testimonials from our satisfied customers.
If you are ready to take control of your credit and improve your financial future, contact us today to get started. You can call us at (267) 225-4198 or visit our website at www.credlocity.com to schedule a free consultation. We look forward to hearing from you soon.
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