How to Legally Repair Your Credit and What to Expect in Terms of Cost

Learn how much it costs for professional help with repairing bad credits and what services are included in this cost.

How to Legally Repair Your Credit and What to Expect in Terms of Cost

Nearly all of the most successful credit repair companies charge a monthly recurring subscription in order to help you improve your credit rating. This is because the process of correcting any inaccuracies reported to a credit agency and improving your credit score can take several months, depending on the number of disputes you need. The services you receive will vary depending on the credit repair company and the level of service you choose. While all of these companies will file disputes with each credit agency on your behalf, some also offer credit monitoring, credit counseling, identity theft detection services, debt validation letters, sending letters of good will and writing dispute letters, among other services. The cost of credit repair services is a small price to pay to hire a legitimate credit repair company that takes your interests into account.

This initial fee acts as an opening fee for your account and allows the credit repair company to begin working on your case, which can include unlimited disputes at its highest levels. It helps you assess your credit history and guides you through the process of submitting and following up on credit dispute letters. The time you'll need to repair your credit will depend on the amount of work you need to do. For example, it may take you a month or less to eliminate some inaccuracies from your credit report. Deeper disputes may take longer.

When you file a dispute through a credit agency, that agency generally has 30 days to investigate the claim and make a decision. Most credit repair services limit the number of disputes they will file on your behalf each month. This means that you may have to wait several months to file all the necessary disputes. A credit repair company can legally request that any inaccurate information be removed from your credit report. This can be something as simple as misspelling your name, address, or Social Security number, or something much more complex, such as accounts added to your name due to identity theft.

You should question any credit repair service that claims they can remove legitimate items, erase your valid debts, or completely clear your credit history. This is usually a sign of a credit repair scam and rarely leaves you with a clean credit score. This agency states that many customers see results within 15 to 30 days because the company immediately starts sending dispute and debt validation letters on their behalf. Credit Firm offers a reasonably comprehensive service for one of the lowest monthly costs on this list. Clients are assigned a dedicated credit repair specialist who is supervised by a licensed attorney.

New customers have a five-day money-back guarantee to try out the service. If they are not satisfied, they can receive a full refund of the initial fee. No company in the credit repair industry or any credit repair software currently available on the market can completely erase your credit profile. A credit repair company can only challenge the inaccurate items on your credit report and challenge your creditors to verify the legitimate items. It is illegal to claim that a legitimate item is inaccurate when submitting dispute letters.

In some cases, a repair service may submit a letter of goodwill on your behalf requesting a debt collector to remove an accurately reported negative item. This is not a guaranteed process and it is entirely up to the debt holder to accept or deny the request. There are many other things you can do to repair your credit, all of which are explained in the DIY guide: using goodwill letters, what to do with zombie debts, how to eliminate inquiries, add personal statements to your credit reports, how to negotiate an elimination payment, how the statute of limitations affect your debt, keep records, monitor your credit, create positive credit and more. According to the Credit Repair Organizations Act, only an attorney licensed to work in your state can file disputes on your behalf. There are many reputable companies that can help you with this complex work for you and provide you with access to an online portal where you can track your account progress in real time and get updates to your credit report and credit score. These things can lower your credit score and stop you from competing for a loan or credit card. However, the lower cost makes sense when considering how much interest and charges you'll pay if you go through life with bad credit.

Consider it an investment in your future.

Jada Delbrocco
Jada Delbrocco

Total internet ninja. Beer buff. Certified sushi fan. Award-winning social media lover. Extreme social media ninja. Total food expert.

Leave a Comment

All fileds with * are required