The credit repair industry is often likened to the dreaded dentist - nobody wants to entrust their finances to them. The proliferation of credit repair companies, with almost one on every corner, has made choosing the right one akin to picking from a McDonald's menu. As someone who has been in the industry for 15 years and operates one of the largest credit repair companies nationally, I can attest to the negative perceptions that abound. Sadly, bad credit continues to plague individuals, and the rising number of credit repair companies only highlights this challenge. As a consumer, it's essential to exercise due diligence to avoid falling prey to unscrupulous firms.
With over 20,000 satisfied clients under my belt, I believe it's time to give back. As a credit repair business owner, I'm passionate about sharing how our industry works and giving you the tools to help you make informed decisions when selecting a credit repair company.
Contents:
How to Find the Best Credit Repair Company in Allentown?
Different Credit Repair Companies in Allentown: Understanding the Differences
The Credit Repair Process in Allentown
Effective Credit Repair Includes a Focus on Personal Finances
Free Credit Repair in Allentown
Valuable Recommendations for Credit Repair
How to Find the Best Credit Repair Company in Allentown?
When people ask me about the best credit repair company, I don't immediately recommend mine. Instead, I suggest doing thorough research to identify credible and legitimate companies. Although online reviews can provide some insights, it's best to look out for established companies with a great online presence and reputation. Here's a list of things you should do to determine the best option:
1. Create a list of a few credit repair companies near you with a good online presence and reviews.
2. Verify the company's website history and its reputation with Google reviews for authenticity.
3. Shortlist the companies and call them for further inquiry.
During the call, ask the following questions to gain more insight:
A. How long have you been in business? Are you unlicensed and bonded? If so, can I see a copy of your bond?
B. Do you have a physical office where I can come in and meet you and the team?
C. Do you offer a free consultation?
D. Do you offer a Money back guarantee?
E. What is your fee structure like? Do you charge a flat fee for your services, or do you charge me monthly?
F. How long does the average process take?
These questions allow you to analyze the information and make the most effective and least expensive choice. It's not just about persuasion; instead, it's about research and conviction. Always be sure to do your due diligence and select a trustworthy credit repair company to help you make critical decisions.
Different Credit Repair Companies in Allentown: Understanding the Differences
There are over 1 million active credit repair and financial service companies in the United States. With so many options out there, it can be hard to know the difference between experienced and non-experienced companies, and how credit repair works. To help you understand better, let us explain the three different types of credit repair companies you will find in Allentown.
1. Flat fee companies
Only about 5% of companies operate like this, and it is the best way to get the fastest results and save the most money in the process. Flat fee credit repair companies typically only bill you for the accounts they dispute, and you pay a one-time fee for this service. This process is faster because these companies have an incentive to get your services completed as quickly as possible. Typically, in this process, the credit repair company will do a consultation by looking over your credit reports to determine if they can help you out and then quote you a price based on those accounts.
2. Monthly fee companies
Most credit repair companies you will find charge monthly fees. One of the reasons why this model is inefficient is that many companies don't look over your credit report to determine if they can help you. Additionally, this structure doesn't fit for all clients. The longer you're on the program, the longer they get to collect a fee from you. Also, with this structure, the credit repair company is usually disputing a few items at a time. So if you have 10 negative accounts, it can take 6-8 months alone to get full results. Although you may be paying less out of pocket each month, the fees can add up over time, and this model can get very expensive.
3. Pay for Delete
Fewer companies offer this model, but it offers an interesting and more enticing way to pay for credit repair. The name says it all: you pay only for results, which puts pressure on the credit repair company to perform. This model is very appealing to many people, but most people do not know what they are getting into until it's too late. The way most Pay for Delete companies work is that they hook you by saying that you only pay for results, but then they charge you a lot for each item removed. It's important to ask to see the fee structure and ask the company directly if they removed all your accounts from your credit report what the fee would be.
While we recommend a flat fee company as the best option, we encourage you to do your research and calculations to make the best decision for yourself.
The Credit Repair Process in Allentown
Different people may give varying responses when asked about the credit repair process. As an industry, credit repair has a lot of advice, but most of it is outdated or not helpful. Having been in the industry for 15 years, I can attest to years of trial-and-error attempts at perfecting the process. With regulatory and legal changes impacting the industry constantly, nothing stays constant in the credit repair industry. Credit repair is not complicated: the credit reporting agencies try to outsmart the consumer by instituting processes and procedures that limit the effectiveness of the dispute process and drive them towards online platforms. We keep track of these changes to offer our clients the best results.
The Dispute Process
Initially, users had success disputing all their negative accounts using "not mine disputes" that claimed the accounts did not belong to them. This process allowed immediate results as the agencies flagged the accounts as fraud without investigating. The popularity of this process led to turmoil when these same accounts reappeared after a secondary legal reinvestigation. As the popularity of this process grew, the credit reporting agencies implemented e-OSCAR and other procedures that refined this process, making it difficult to get reasonable results. It is essential to use new and unique dispute tactics to ensure accuracy in reports.
The Effective Process
The process that I will tell you today is not secret, but most people don't use it effectively since they don't understand the steps. It's your legal right to contest the validity of any account on your credit report by requesting that the data furnisher provide proof of the account's validity. Determine if there are errors in the account or its reporting, then work on getting them fixed or deleted. It's important to ask the right documentation to support your claims. You can call as a non-customer to ask what documents are needed to authorize a new loan. You can also perform a Google search or check our blog on this topic for details.
Effective Credit Repair Includes a Focus on Personal Finances
Your personal finances drive your credit score, which explains why so many Americans struggle with derogatory accounts. While credit repair can be helpful, it's only one tool in a larger effort to achieve sustainable credit. To achieve that goal, you must first get your personal finances in order. Many people fail to achieve sustainable credit because they fail to control their finances. To avoid this problem, work on paying down revolving credit balances, pay all accounts on time, and stop using credit cards excessively. If you can't get your finances in line, your credit score will never fully recover. The key to ending the endless cycle of credit repair is to stop focusing solely on credit repair and start working to control your finances. While a focus on credit repair is necessary, it's not a complete solution. Be mindful of your finances, and your credit score will improve accordingly.
Free Credit Repair in Allentown
It’s a common question we get asked frequently- “Is it possible to fix my credit for free?†And the truth is, yes, you absolutely can repair your credit for free, or at the cost of paper and a stamp, by working on your own. Our blogs offer detailed steps on how to repair your credit like the professionals. However, it's important to note that anything that is free might come with a time cost. Legally, you are entitled to dispute your credit report at any time, but the majority of people do not have the time or the willpower to do it on their own. If you are among those, we recommend paying professional credit repair companies in Allentown to do the work for you. But if you are willing to commit about 2-4 hours per month to dispute your credit report for free, we suggest reading our blog post on how to improve your credit like the pros.
Leave a Testimonial or Review
In the early years of entering the credit repair industry, I used to offer free credit repair to people in exchange for their genuine testimonials or reviews. As I was lacking reviews and testimonials in the market, I would ask people to permit me to fix their credit and in return, I would get a testimonial or review from them. Although it cost me money to send their disputes, I received far more value than the cost I paid from the positive reviews and testimonials. Moreover, many new credit repair companies would be willing to do the same thing as I once did. Therefore, we suggest searching for "Credit Repair" Facebook groups in Allentown, joining them, and then posting a status similar to this one:
“I’m searching for a new credit repair business owner in Allentown who is willing to help me with some credit concerns in exchange for a highly detailed 5-star review.â€
You may receive some negative feedback, but it should not be difficult to find someone willing to repair your credit for free.
Valuable Recommendations for Credit Repair
To ensure that you permanently fix your credit, do your research when searching for the most reliable credit repair company. It is crucial to reach out to various credit repair institutions and not waste your money or time. It is also essential to work on your personal finances, as it is the root cause of most people's credit score problems. Many individuals spend their paychecks recklessly to mend their credit score and end up branding credit repair a scam. It is important to know that credit repair works effectively. I have witnessed over twenty thousand of my clients' lives change positively. However, it all starts with you! You must control your spending and saving habits before opting for credit repair as a quick and permanent solution. Do not lose hope; you can do this!