Credit Repair Guide

Updated: Jun 8

How to Remove Negative Items from Your Credit

If you have high-interest rates, have been turned down for loans, or simply suspect that there may be erroneous information on your credit report you may consider hiring a professional credit repair service. Improving your credit score can drastically decrease interest rates and save you thousands on monthly payments. If creditors are reporting false information, dated information, or are simply reporting on a negative item too long this can damage your credit score and buying power. Read on to see how credit repair can help you.


  1. What is Credit Repair?

  2. Best Credit Repair Services

  3. Can I Repair My Own Credit?

  4. Avoiding Scams


What is Credit Repair?

Credit repair is the process of improving one’s credit score by attempting to remove negative reports. Credit restoration could be as easy as disputing wrong information on your report. However, if you have extensive negative reports, damage, or have experienced identity theft improving your score may require more comprehensive repair work. You may want to seek a professional credit repair service. Disputes can be filed against inaccurate or incomplete information appearing on your credit report. Rebuilding and repairing credit can have a significant impact on your financial future. ​ The FTC reports up to 25% of credit reports may contain errors. How Does Credit Repair Work? Credit repair works by filing disputes with the various credit agencies in an effort to have negative or mistaken reports removed. Removing negative reports such as late payments and charge-offs can have a huge impact on your credit report and score, increasing your buying power and lowering your interest rates. There are many steps in the credit repair process and can require intensive attention, this is why most people choose a professional service. Typically a credit repair service will obtain your credit report to identify any questionable items. Once they have worked with you to develop a plan they will make the proper filings and legal requirements to dispute these items. A credit repair service will continue to follow up and work with the reporting bureaus to ensure fair credit representation.


How Do I Know If My Credit Needs Repaired?


Understanding your credit score and history report is the first crucial step towards financial success. Credit repair services may not be necessary and their effectiveness is reliant on your individual credit history. Everyone is entitled to receive their credit history report from the three major reporting bureaus once per year. If you are unsure if your credit report has mistakes or need help understanding your history you can learn more about reading your credit history report here


How to Get Your Free Credit Score

 

Top 3 Credit Repair Services


Why Use a Credit Repair Service?

There are many steps in the credit repair process and can require intensive attention, this is why most people choose a professional service. Typically a credit repair service will obtain your credit report to identify any questionable items. Once they have worked with you to develop a plan they will make the proper filings and legal requirements to dispute these items on a monthly basis until the update or removal is achieved.. A credit repair service will continue to follow up and work with the reporting bureaus to ensure fair credit representation.


1. Lexington Law - Best Reviewed



Credit Score Consult: Free

Monthly Price: Variable

Reviews: 4.8/5


Lexington Law has provided thousands of Americans with credit repair and legal services. Offering competitive prices, Lexington Law will first provide you with your free credit score and a personalized plan of action to repair and rebuild your credit. get started here to see your credit history and find out if credit restoration can help you.


2. CreditRepair.com - Best Value

Credit Score Consult: Free

Monthly Price: $99.99

Reviews: 4.8/5


Quite literally the first name in credit repair. Creditrepair.com has helped with millions of negative item removals. With a slightly higher price tag, Creditrepair.com includes a personalized online dashboard and credit analysis tools. Transunion credit monitoring is also included 100% free. This is the best option for those who are not only looking to repair their credit but to invest in their long-term credit success and security. Along with your free credit score and report, you can get a negative item summary and credit consultation online without commitment.



3. Credit Firm - Best Price


Credit Score Consult: Free

Monthly Price: $49.99

Reviews: 4.7/5


With one of the best prices in the busy with Credit Firm, you can pay as you go and cancel anytime. Credit firm works with the three major credit bureaus as well as collection agencies to remove any derogatory information or inaccurate reports from your credit history. You can get started online with a 100% fee consultation here.


 

Can I Repair My Own Credit?




If you have the time and the knowledge you can attempt to write the credit bureaus and make the proper filings yourself. However, this is not recommended for everyone, be sure to carefully file the proper forms as to not delay removal or harm your credit. For more information check out our DIY Credit Repair Guide. ​


Avoid Credit Repair Scams


If you decide to pursue credit repair services from another source it is important to keep a lookout for fake businesses and scams. These companies are not only interested in your money but in the access to your identity, your credit information would grant them. It is vital that you do your research and consider security first when sharing your personal information. If you believe your personal information has been compromised you may want to consult with identity protection services. Here are some things to look out for when considering a credit repair firm.


Credit Repair Red Flags:

Do not inform you of your legal rights

Ask you to misrepresent credit information or identity

Make guarantees about removal results or score increase

They ask for payment before the start of service