Making a decision purely on price when it comes to choosing a credit repair company can be a serious mistake that could cost you your money and time. If you are serious about repairing your credit and trying to find the right company, read on…
What most people don’t know is that all those credit repair companies that charge on a monthly service fee basis are only going to do a very small amount of work each month. If you are like the average person with bad credit, you most likely have an average of 8-15 negative items on each of your 3 credit reports. If you are only paying a $49 – $79 monthly service fee, they are only going to work on 1-2 items at a time. Keep in mind also that with the monthly service fee model, the credit repair company’s motivation is to keep you paying as long as possible. You may easily end up paying far more, with fewer results, than you would have with a company that offers a flat-rate program.
In a flat-rate credit repair payment model, the motivation is to get your credit cleaned up as quickly as possible, and isn’t that exactly what most people are desiring? I have never come across a client who wanted to clean up their credit slowly. You need to be very careful when choosing a credit repair company, as they are absolutely not all equall? One of the first things you might do is check out their record of complaints. If it is a company that has been in business for more than a few years and has not been providing a great service, you will hear about it on the Internet. Just go to Google and type in “[company name] complaints”.
Warnings have been posted by The Federal Trade Commission to steer consumers away from credit repair services. The reason for this is that in recent years, they have received a huge number of complaints about companies that receive money, fail to provide any real results. Since the FTC cannot recommend any particular company, their policy is to simply tell everyone to stay away. Many companies have since adopted the model of charging based on a monthly service fee instead of charging for the credit repair itself. They have found it to be easy money, since most people will sign up for this type of service and forget about it. A low monthly fee is easy to forget about, and most credit repair company are banking that you will forget.
Several times a week we receive calls from people who have been client’s with a monthly service fee credit repair program. They are very unhappy and have paid in, in come cases, well over a thousand dollars, and often have only seen a handfull of deletions. I personally find this appalling, and you should also.
Hopefully this will give you some useful information that will help you in your quest for the right credit repair company.
