Hey guys, Kevin here with Family Credit Repair, and today we’re going to talk about, are credit repair services are a scam or not.
It’s completely understandable to be skeptical of credit repair companies, heck, I was before I started working for one. But then I saw the impressive results they were producing. But as with all industries, there are the good, and there are the bad.
Here are a few things to keep mind when deciding if a certain credit repair company is reputable or not:
Did the credit repair company give you a written contract of its services? Or did you just sign up online without talking to anyone, without receiving any paperwork. You always want proof of any legal agreement.
Choose a company that will keep you informed. Have you been assigned a credit consultant who will call you every 30 – 45 days with your updated scores? If not, you may want to switch to another company.
Three, steer clear of credit repair companies that charge a flat monthly rate. They often need to keep you in the books for a full year for it to make sense financially, often only working one item at a time drawing out the process as long as possible.
Flat monthly rates only give credit repair companies incentive NOT to do their job.
And finally, as with all things in life, you get what you pay for. If the pricing is too good to be true, it often is. But then again, credit repair shouldn’t cost you thousands of dollars either.
Some companies will use a computer program and not assign you consultant to keep costs down. Stay away from this, for your credit repair to be effective, you need a credit specialist to review your credit file every 30 – 45 days and decide how to best proceed as time goes on.
Have a great day