3d illustration of a simple wrench and screwdriver sitting on top of a silver credit card on a black reflective surface

The best credit repair companies

Our current economic state in our countries is unfavorable more so if one has a bad credit. A poor credit is a misfortune as it leads to loan application rejections, higher interest rates than usual ones, higher premium rates, personal and relationship stress which in turn causes physical and mental health issues.

“Causes of poor credit are numerous!”

They include negligence in paying bills, late payment of bills, credit card debts, running bankrupt, failure to stick to original credit agreement terms, simultaneous application for credit cards and unemployment. With all these, several people have settled on credit repair companies for fixing their cards. These companies replace the negative details on one’s card with positive reports.

Do Credit Repair Companies work?

The big question is, how can one get the best credit repair company which can be trusted? From the numerous companies, a thorough research has been carried out to find out the best credit repair companies which can be trusted. It came out with the following as the best credit repair companies.

The Sky Blue Credit has the better business bureau with A+ rating. This company promises its clients that they can have their credit cards cleaned up and their credit scores improved. The research confirmed that it sticks to its promise. It quickly renders the service with free consultations anytime. It is located in Florida, US.

The Lexington Law which has over 24 experience years has erased over 7.3 million negative reports on credit cards. This achievement makes it the best credit repair company and enhances its integrity. It offers free consultation and case evaluation. It has no advance fee. It started as a local business in 1993. It is a Limited Liability Company. Clients must sign an engagement agreement. A client may sign out any time. Payments are made five to fifteen days after an engagement and thereafter a monthly pay depending on the services.

CreditRepair.com offers online services and it is a little costly compared to other companies. It has cleaned over 1.5 million bad credit cards. The company provides additional services to its customers. It provides a full time credit monitoring, a credit score tracker and a personalized online dashboard. All these services accredit the higher price. This started as a mere business but due to its best services, it has gone miles ahead.

You can involve these best credit repair companies to improve your FICO scores and besides that always check your credit reports, set up payment reminders, reduce the amount of debts you owe and pay your bills on time.

clarisonicmiabrush-1

Avoid The Most Common Credit Repair Myths

If you’re going to repair your credit, you’ll need to put aside any misconceptions about it first. There are several myths surrounding your credit score in particular. One of those myths is the belief that once you get a poor credit score, you’ll suffer financially and not much can be done to change it. The truth is that with credit repair it’s possible to get a higher credit score and better opportunities for more credit or loans in the future. Many also believe that if you apply for credit your score lowers drastically. But in fact the score only lowers slightly when you do this. Here are other common credit repair myths.

Will Paying off your debt help your credit?

removing debtSome people think that just because they paid off certain debts, their credit score or report will not suffer. Actually the opposite is true because although you paid the debts, they can remain on your report for at least seven years. And if you recently filed for bankruptcy, it will be ten years before you’re in the clear on your credit report. With that said, it’s still good to pay off outstanding debts because eventually they will be removed from your credit report.

You have heard that it is quite simple to dispute errors on your credit report. While it’s easy to write dispute letters and submit evidence that you paid debts to your creditors, the process could still be lengthy because the credit bureaus will need to verify the evidence and your claims to determine if errors were made. In addition, the credit bureaus are not always willing to cooperate with consumers regarding this issue.

If you decide to close out credit card accounts because you don’t use them anymore, don’t fall for the myth that this will boost your credit score. When you close out old accounts, you reduce your credit history and it will appear as if you barely have credit. This works against you and it causes a lower credit score. It’s better to leave those accounts open so that you’ll have the image of an established credit history.

For those who are opening new credit cards every few months, this is a black eye on your credit report because lenders will get suspicious and wonder if you’ll be able to pay down your current debts and the debt you’ll incur from the potential lender if you were approved for credit. By avoiding these myths, you can establish a better credit history.