Best Credit Repair Companies Of July 2024

• The Credit Pros: Best for Budgeting and Bill Tracking
• Credit Saint: Best for Simple Credit Repair Options
• Sky Blue Credit: Best Budget Option

Consider these tips when comparing credit repair companies:

• Look out for potential scams. Credit repair companies typically have a bad reputation, right or wrong. So it’s crucial to look out for any potential red flags. These may include companies promising to remove negative items, avoiding explaining your rights or telling you not to contact credit reporting companies. You should also look into a company’s Better Business Bureau file and check to see if there are any complaints with the Consumer Financial Protection Bureau.
• Evaluate packages and fees. No two credit repair companies are identical. This means not only will they offer various packages, but they will also charge different fees. Some charge a monthly and setup fee while others charge only a monthly fee. If cost is a priority, be sure to evaluate and compare all packages and potential fees.
• Check to see if they include credit monitoring. When comparing different companies or packages within one company, be sure to check whether credit monitoring is included. Some companies include it at no additional cost; others may require you to upgrade to a higher-tier package to receive the service.
• Look for a money-back guarantee. If you want to have more confidence in your credit repair journey, look for a company that offers a money-back guarantee to hedge your bet.
• Review any potential discounts. Some credit repair companies offer discounts on setup or monthly fees, or both. For example, some companies on this list offer discounts for active military members, veterans and couples. Look for these deals if you want to save some money.

Credit repair is when consumers work with companies that specialize in removing errors from credit reports with the intent to increase their credit score. Depending on the company someone works with, they can access a range of additional features, including free credit score updates, credit monitoring, writing cease and desist letters to debt collectors or even writing letters of recommendation to lenders you’re applying for a loan with.

It’s crucial to have a good credit score because lenders use it to help determine if you qualify for loans, mortgages and credit cards; landlords may also use it when reviewing a rental application.

Credit repair starts with reviewing your credit report from the major credit bureaus—Equifax, Experian and TransUnion. Each report should be checked for errors, inaccuracies or outdated information that may negatively affect your credit score.

The next step is to dispute any errors with the credit bureaus and the creditors reporting the information. This can be done by mail, online or by using credit repair companies that specialize in handling these disputes.

Credit repair may also address legitimate negative items on the credit report, such as late payments or collections. This might include negotiating with creditors for payment arrangements, settling debts or writing goodwill letters to request the removal of negative information.

As inaccuracies are corrected and negative items are addressed, your credit score will gradually improve. A high credit score makes you attractive to lenders and helps you qualify for better interest rates and loan terms. However, it’s essential to be cautious of scams and to work with reputable professionals or organizations when undertaking credit repair efforts.

A subscription model is the most common credit repair pricing structure. Monthly fees may range from $60 to $200, depending on the package. Some companies also charge a setup fee, which can be the same price as a full-month subscription.

Improving your credit takes time. It’s a good idea to find out how long the company says it will take to help you, so you can budget in the monthly payments. For example, if your credit repair company estimates it will take six months to repair your credit and you have signed up for a package with a $100 monthly fee and $100 setup fee, after six months you would have paid $700. You could save money by doing this work yourself but it would require more of your time.

Choosing the best credit repair company may come down to your goals and budget. While some people may prioritize the cost, others may want a company that offers unlimited dispute letters. Everyone’s needs are different, which is why it’s helpful to shop around.

That said, there are some steps you should take to ensure you’re working with a legitimate, reliable company.

• Research multiple companies and compare them. Look at the firms’ services, pricing, reputation and reviews.
• Verify the legitimacy of the companies you’re considering. Check their registration and ratings with the Better Business Bureau (BBB), or tk.
• Make sure you understand the pricing structure. Legitimate credit repair companies will not guarantee results, ask you to dispute charges on your credit report or charge large upfront payments.

Credit repair companies can try to help you remove negative items from your credit report, but success is not guaranteed.

While many companies advertise how many negative entries they’ve had deleted, there are no reliable statistics to prove the effectiveness of credit repair companies.

Because you can do on your own everything a credit repair company can do, it’s often better to take the time to review your credit reports yourself and submit any disputes. Doing the work yourself is completely free, saving you hundreds of dollars that you would pay a credit repair company.

We reviewed 13 popular credit repair companies based on 19 data points in the categories of stability, reputation and customer satisfaction, customer experience, services, and cost and fees. We chose the best companies based on the weighting assigned to each category:

• Cost and fees: 45%
• Packages: 30%
• Customer experience: 10%
• Reputation and customer satisfaction: 10%
• Stability: 5%

Within each major category, we also considered several characteristics, including years in business, customer reviews and online resources the companies provide. We also looked at service packages offered, fee structure, money-back guarantees, discounts and cancellation policies.

Where appropriate, we awarded partial points depending on how well a lender met each criterion.

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