Having a bad credit score is overwhelming. It’s also very limiting because it makes it that much harder to get a loan approved. Basically, that dream house or car has to wait. Not only that but it can take years to get your credit score back on track. Regardless though, mistakes also happen so your credit score might not even be accurate. This means that you could be paying higher interest rates than you need to. It’s therefore worth working with a credit repair company to find out the truth of what’s going on.
What to Look for in a Credit Repair Company?
- Certified with the Department of Justice
- A BBB listing
- Presence and track record
Unfortunately this industry has a lot of scams and illegitimate companies. Be wary of any company that charges very low prices as this usually means they’re hiding something. There might also be some small print that locks you in for months meaning that you costs add up.
The first step in protecting yourself from all this is to check that your credit repair company is registered with the Department of Justice. In California, for example, there’s a California Credit Services Act that legally requires companies to register with the Department of Justice. This is often abused with many companies not registering because it is a less well-known fact.
You should also check the Better Business Bureau (BBB) website. The BBB are a non-profit organization that verifies a company’s authenticity, including for a credit repair company. You can therefore easily look up any credit repair company’s rating and accreditation status.
Finally, it’s a tough industry. For that reason, any company that has survived several years is more likely to be one of the trustworthy ones. Having more than one office can also give the credit repair company credibility.
Top Companies in America
- Sky Blue Credit
- Credit Saint
- The Credit Pros
Sky Blue Credit
Since 1989, Sky Blue Credit in Florida has offered a fixed and transparent pricing scheme with a 90 day money back guarantee. Bizarrely, they’re not accredited with the BBB. However, at this point, it’s worth noting that there’s no obligation for any company to seek accreditation. The fact that they’ve been in business for over 30 years though says enough.
Again, this company offers a good pricing scheme with different pricing levels and a 90 day money back guarantee. They’ve been around since 2007 and they also offer other services such as financial advice and credit education.
The Credit Pros
Interestingly, the Credit Pros have an artificial intelligence platform with certified FICO teams. FICO is a data analytics company that focuses on credit scoring. Therefore, anyone with a certification can be trusted as credit rating professional. In addition, this credit repair company has been operating since 2009 and also offers a 90 day money back guarantee.
Review of California Credit Repair Company Market
Many of the credit repair companies seem to be in California so it might be helpful to review those based in Los Angeles, as listed below:
- Infinite Financial Firm
- Bereliani Law Firm
- Imax Credit Repair Firm
Infinite Financial Firm
Infinite Financial Firm has been in operation since 2008 and is BBB accredited with an A+ rating. You can read customer reviews on the BBB website and overall, they seem efficient and professional. They also offer a home loan service although, interestingly, they don’t list prices on their website.
Bereliani Law Firm
As you might expect from the name, this company offers more than just credit repair services. It’s a good comparison company though, especially if you’re looking for other services. They are BBB accredited with an A+ rating and can generally support you with anything to do with money problems, including bankruptcy.
Imax Credit Repair Firm
Another A+ BBB rated company, Imax has been operating for 17 years which again, is a testament to its capability. Their fees are transparent and they even have a quiz on their website so you can review if you can fix your problems on your own. In addition, they offer a lifetime money back guarantee. They also promise to not bill you if they don’t get you any results. Have a look at some of their customer reviews on their website for more information. Overall though, they seem to embody trustworthiness and professionalism.
Final Recommendations for choosing a Credit Repair Company
Money problems are scary. There’s no two ways about it. However, there is hope and there are people out there who can help. Like anything to do with money though, do your research and be wary of scams. The information listed above should give you a good starting point for what to ask a credit repair company when you call them. Take your time and listen to your gut feeling about whether you could work with the person on the other end of the phone. Finally, review their fee structure and any guarantees and then everything else should follow smoothly.