The Credit Pros is a relatively new entrant in the credit repair industry, but its founder, Jason Kaplan, is a legally-trained credit law expert who says that he launched the operation after spending years developing and refining his approach. The firm diligently pursues the deletion of negative credit items, and also offers credit advisory services. The company recognizes that, in order to assist you in avoiding a similar credit crunch in the future, it can play a role in assisting you to set realistic and reachable credit goals.
The primary mission of this credit repair agency is to use their expertise to challenge negative credit items so that credit bureaus will delete them from your credit history. The Credit Pros assert that they are dedicated to reinforcing their clients’ rights as American consumers, and their services are performed with that purpose in mind.
The firm does operate a web-based portal allowing clients to view the progress that is being achieved, and CreditMarvel counts this as an advantage of their service. Clients will also be able to learn about improvements to their credit scores from the notices that the credit bureaus send each time an item has been removed.
The company through their experience and expertise are able to identify which items can be successfully challenged. In response to each challenge, the credit bureaus will contact the relevant creditors to confirm all the relevant debt information. Creditors are frequently unable to confirm certain details of the debt at issue, and in such cases, the law requires that the item be deleted. The company says that they are pros at this sort of thing.
Credit items can be removed for being just plain incorrect, outdated, or untimely. Late payments can also be removed, and in some cases, erroneous repossessions can be as well. The company’s services include unlimited credit item disputes, and cease and desist letters to creditors.
The firm utilizes a payment structure that involves a one-time sign-up fee, followed by further payments that are only made per deleted negative credit item. This is a fairly unique approach. While on the surface this approach might appear to offer the promise of savings, CreditMarvel’s analysis, provided in the Pricing section below, shows that this might not always be the case. Prospective clients will need to decide for themselves.
An initial benefit that this credit repairer claims its clients will enjoy is that they can avoid the monthly service charges that are imposed by most of its peers. Instead, you will pay a rather hefty up-front charge (detailed below) and then pay $50.00 for each negative item that the firm is successful in getting deleted. With this structure, there is no financial pain involved in allowing your credit repair agency to continue to work for you after the first few months. The company, meanwhile, are all the more motivated to succeed in removing bad items, because that is how they get paid.
On the flip side of this analysis, it should be noted that removal of, for example, ten negative items will cost $500.00, in addition to the initial charges. Oh, and that $50 charge is imposed per credit bureau. There are three major credit bureaus, and the same negative items will of course routinely appear on each of them.
The online portal maintained by the company provides a real service to its customers in permitting them to monitor the firm’s progress in repairing their credit as it occurs. The Credit Pros also offers credit counseling designed to assist clients in establishing realistic financial practices that will help them maintain their credit once it has been repaired. Overall, CreditMarvel awards goods marks on this metric.
The cost of the firm’s services begins with a $149 payment for individuals, and a $249 payment for couples who sign up for their services. That is high. As mentioned, you will then be charged $50 for each confirmed deletion per credit bureau. You will also be charged $75 for each confirmed deletion of a public record, such as a lien, that negatively impacts your credit.
The company states that these payments ensure one-on-one consultations with staff members who are certified FICO professionals, access on a 24/7 year-round basis to the client portal, and all the other services mentioned above. In addition, the firm offers ID Theft Restoration and related insurance. These are pluses, but on the minus side is the potential for a very high total cost for the removal of identical negative items from the credit reports maintained by the different credit bureaus.
The company offers a simple and straightforward guarantee. In the event that the firm does not “force the removal of any erroneous credit” during the first 90 days of your membership, you will be entitled to a full refund. CreditMarvel doesn’t value guarantees too highly in the first place, since they are only triggered for bad service, and we are guiding our readers toward good services. This is, however, a fairly expansive guarantee.
The BBB has given The Credit Pros a “B” rating. The main reason for the lowering of their rating was the volume of complaint the company has received, and CreditMarvel has confirmed that the majority of these complaints were for the quality of service provided by the firm. This is a red flag, and must be taken into account by prospective customers. CreditMarvel hopes that the company can improve its service provision in a manner that will allow it to reclaim a more solid position in the credit repair industry.
The focus of this firm is on achieving the maximum level of credit repair, rather than on speed. This is reflected in the pricing structure that the company employs. Also, the company’s website states that clients will begin to see improvements within three months, and that they generally complete their services “within six to twelve months.” This period is longer than the estimated period described by other credit repair firms.
Nevertheless, this emphasis may be just fine for clients who are not in a hurry, but who are intent on receiving the maximum improvement of their credit rating.
The approach that this agency takes to credit repair will appeal to consumers who prefer to pay for results, and who do not wish to worry about ongoing subscription costs that are not directly tied to performance. Consumers will of course need to evaluate the firm’s “B” rating from the BBB, and the total cost of the firm’s services, in determining whether The Credit Pros is the right company for them.