8 Credit Repair Companies That Can Help Your Business
These firms employ a variety of strategies to help their customers. For example, they may use different methods to handle late payments or to fix someone’s credit score. If you pay the majority of reported accounts on time or early, you will have a good score. So even one negative account can have a BIG impact on their business credit score.
If you do decide to reach out to a credit repair company, watch out for some of the common warning signs of credit repair scams. If you’re in doubt about the legitimacy of a particular company, it’s best to play things on the safe side and look elsewhere for help. Be well informed on what credit repair companies must comply with. Reading the Credit Repair Organization Act and the Fair Credit Reporting Act beforehand can help. Research company reviews online, customer complaints on CFPB’s database and look up any recent FTC violations.
Most credit repair companies charge a monthly fee between $79 and $129. You may also pay a first-work fee on top of the flat monthly rate. The credit repair service usually takes several months to work but can last a year. For example, Pyramid Credit Repair charges $99 per month, which falls in line with the industry average. Pyramid Credit Repair also has a couples plan that is $198 per month.
They also offer balanced advice on how to improve your credit score, tailored specifically to your needs. Lexington Law offers three service plans and a free initial credit report consultation to help you choose which credit repair options are best for your situation. Keep in mind that while reviewing your credit report, you may run into some common issues. If you do identify what you believe to be an error on one or all of your reports, you should contact the credit agencies directly to initiate a dispute.
This education-based approach tends to be more successful at getting consumers out of debt and helping them stay there. Many credit repair companies start by requesting a copy of your credit report from each of the three major consumer credit bureaus — Equifax, Experian and TransUnion. For $89.95 per month, My Credit Group will contact collection agencies, credit bureaus, and your creditors to improve your score. This company emphasizes its personal approach to credit repair, which includes a free consultation to assess your unique needs. They’ll handle anything that may be hurting your score including collections, foreclosures, inquiries, tax liens, and more. Business credit provides so many benefits that it simply can’t be ignored.