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CreditRepair.com presents itself to consumers as the credit pros with a unique twist. The firm, which has been in business for over twenty years, not only identifies negative credit items and disputes them with credit bureaus but wants to make a difference in its clients’ credit habits. They want their clients credit scores to rise and remain high. It's a more sustainable approach.
As a result, clients who select this credit repair agency will be working with a firm that, in their own words, seeks to “empower every individual to achieve the credit scores and enjoy a lifestyle they deserve.”
The company is viewed as the credit pros since they have been repairing consumer credit for over twenty years. They are 100% committed to improving its clients’ credit ratings and their chances for credit access and financial success.
CreditRepair.com uses a website interface that contains some impressive client-friendly features, including visibility into the firm’s efforts and results. In a hat tip to the shift to mobile technology, its site allows downloads to tablets and smartphones. Therefore, allowing you to monitor the firm’s progress in persuading the credit bureaus to withdraw negative credit items.
After signing up and arranging for the firm to pull your credit reports, CreditRepair.com will ask you to identify items to be challenged. The company then goes a step further: they help you improve your credit behavior. Down the line, this helps increase your credit score by having fewer negative items in the future.
CreditRepair.com relies on a three-step “game plan” that they establish for each client, designed for checking, challenging, and changing the client’s credit report.
This 3-step process that they use makes for a process that is both easy to understand and efficient. Customers feel confident because they have a clear understanding of how CreditRepair.com will help them get their credit back on track.
Aside from their straightforward process of credit repair, they also want to make sure you are armed with all the credit education possible. They offer a comprehensive education section that contains articles about everything from improving your credit to identity theft. Accessing these articles will definitely help members and potential members develop a better understanding of how to improve their financial health.
The premier benefit clients receive from CreditRepair.com is the opportunity to enjoy an improved credit rating. A higher credit rating can open the door to:
All of these can permit clients to pursue the lifestyle they desire.
CreditRepair.com publishes the numbers on how they’ve helped clients. We at CreditMarvel therefore give the firm good marks for transparency on this issue.
On average, its clients witness the removal of seven percent of their negative credit items per month. The firm’s numbers show that this holds true for the first three-month period of service, for a 21 percent removal average.
CreditRepair.com's reputable profile and long history as the credit pros also offer you the benefit of knowing that you are working with a solid company.
The credit repair industry has attracted some less-than-reputable players over the years. Clients of CreditRepair.com will benefit from the assurance that they are not working with a firm that may not be in business next month. Or, that has drawn the interest of the Federal Trade Commission (FTC). CreditRepair.com is powered by TransUnion monitoring and partners with established financial partners Bankrate.com, Credit Karma, LendingTree, and Mint.com.
When it comes to pricing, CreditRepair.com charges no set-up fee and only a one-time $14.99 credit reporting fee. Their monthly charge, however, is $99.95 per month. There is no premium service or related premium charge.
While CreditRepair.com doesn't offer any service guarantees, we view this as a positive sign. As CreditMarvel likes to remind readers, guarantees only come into play when a company’s service was unsatisfactory in the first place.
With regards to speed of service, the company asserts that within four months of enrollment, the firm will be able to remove over 40% of negative items from a client’s credit history.
CreditMarvel characterizes this performance as in the average-to-good range.
Without context, you might wonder if credit repair is risky — or even legal. The answer? No financial decisions are without risk, but credit repair is certainly a viable and legal option.
In 1970, the U.S. Federal Government passed the Fair Credit Reporting Act (FCRA) to make the collection of credit information and access to personal credit histories more equitable and transparent. The specific goal of the FCRA is to make sure that the data contained in credit reporting agencies' files is fair and accurate.
To this end, the FCRA offers many reasons for disputing negative credit items. They include those items that are:
Credit repair companies like CreditRepair.com, Sky Blue Credit, and Lexington Law have emerged as the credit pros that help individuals who might not be familiar with the details of the FCRA, ensure that their data is correct.
Your credit is something that affects every area of your life. When you have bad credit, these are just some of the areas you can experience hardships:
In conclusion, this firm has a long, established record in the credit repair business as the credit pros. It has a solid customer base, and maintains a highly client-friendly web portal with mobile access. A significant drawback for this firm, however, is the high price of its services. While they average a 21% negative item removal rate which is good, other firms have reported higher percentages.
Overall, CreditMarvel views CreditRepair.com as a solid provider of credit repair services. However, clients will simply need to decide for themselves if they are worth the extra cost.
Please note that in May 2019, the CFPB announced that it filed a lawsuit against CreditRepair.com for violations of the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act. However, we've been assured that this will not affect the credit repair services that they provide their customers.