You might be wondering, why should you hire a credit repair company? There are many reasons! Credit repair companies can work with you to remove any negative information from your credit reports and help you increase your score. In addition, they offer a variety of services that range from identity theft protection to home security systems.
You will have an expert at your side who understands how the industry works and can protect you from fraudsters. We will discuss what it takes for a credit repair company to work on your behalf, as well as some common misconceptions about these companies.
Can Credit Repair Companies Really Fix Your Credit Score?
There are many misconceptions about these types of companies—the biggest one being that they charge an arm and a leg for their services. Most reputable firms only accept payment if they can successfully improve your scores or provide other positive results during contract negotiations with creditors/reporting agencies.
The truth about these companies is that they’re not out to scam you—most are highly reputable and have been in business for years with excellent reputations within the industry.
In addition, they typically offer extensive services, including but not limited to: contacting creditors on your behalf, making payment arrangements when possible, disputing negative items/transactions from your reports, etc.
In most cases, there may be an upfront fee or deposit required before the work is being performed. However, this will usually be no more than several hundred dollars, if anything at all, depending upon company policy and what needs to be done regarding your situation. This initial amount can quickly be recovered through refunds and credit boosts once the job is completed.
The other important thing to understand about these firms, which usually go by names such as “credit repair,” “credit restoration,” and so on, is that while they do provide valuable services in many instances—they can also be somewhat limited depending upon your particular circumstances.
On the one hand, if you only need a little favor or two here and there, it’s often not worth hiring someone else to assist with this type of work. In contrast, you could probably take care of everything yourself without spending too much time doing research online or having prolonged discussions with creditors/reporting agencies directly.
On the other hand, however, if you’ve been denied credit or experienced other adverse effects because of significant/severe issues such as accounts that were never yours, debt collections activity, identity theft, etc.—then it may be worth your while to seek the assistance of a reputable firm.
In general, if you’ve had legitimate problems with creditors and reporting agencies for several years. Like struggling simply because there’s too much negative information on your reports and you can’t remove any items yourself successfully despite having tried multiple times in the past—you might want to consider hiring a professional to help clean up your files once-and-for-all.
In many cases, this is what people turn to these types of companies when they finally decide they’ve had enough and want to turn their lives around.
How Can You Verify If The Credit Company is Trustworthy?
There are several steps you can do to determine whether a credit repair company is trustworthy or not.
First, check the company upon consumer protection agency websites such as the Better Business Bureau and state attorneys general’s office to ensure they are legit and registered businesses.
Secondly, read your contract carefully and look for any hidden fees you might need to pay at a later date; this will help protect yourself from financial losses if something goes wrong with the repair process.
Also, ask about cancellation policies before signing anything – be aware that there may be penalties for canceling contracts early. Finally, watch out for companies that claim unrealistic benefits – some even guarantee to obliterate negative items from credit reports.
Remember: it is illegal for them to do so. In addition, they can only legally remove derogatory information from consumer credit reports if it falls outside of the seven-year reporting period.
How Much Will It Cost You To Repair Your Credit?
The cost depends on your credit score, the number of accounts being repaired, and the amount you are willing to invest. Some clients may repair their credit without spending any money at all, while others may spend thousands of dollars.
If you are interested in learning more about the cost involved with repairing your credit, contact The Oasis Firm today! We can help guide you through this process. We are a leading credit repair company with years of experience helping countless clients achieve their dreams.
Remember that you may have to pay an amount of money, but this indeed is nothing compared to the amount of money you will save in the long run.
How Long Will The Process Take?
Varying on your current credit score and the severity of damage to your credit, you will need to know how long it will take for things to get better. The good news is that with a bit of patience and determination, any consumer can make their way towards improving their credit scores within six months or less!
The process won’t be fast; however, once you start seeing results from all of your hard work, they will be well worth it in the end. It might seem like everything is going wrong at first. Still, once there is light at the end of the tunnel, these companies see an increase in business because people are so happy about getting back on track with paying off debts and maintaining healthy credit reports.
There isn’t much risk involved when choosing one of these companies because they can’t do anything that a consumer couldn’t already accomplish on their own with enough hard work and dedication.
Statistically speaking, the typical consumer can expect to see an improvement in their credit score by at least 30 points within just 90 days after working with one of these companies.
While there are ways you can repair your credit, it’s important to consider seeking help from a reputable credit repair company. These companies will help you with your finances and get back on track towards financial freedom.
The process of repairing your credit doesn’t have to be overwhelming or stressful. As long as you are willing to work hard, it can all be worth it in the end. At The Oasis Firm, we value the trust and loyalty of our clients, and we will do everything in our power to help them achieve their goals.