Whether you have bad credit or simply want to get better at managing your debt, a good credit repair website can help. While a few scams have given the industry a bad reputation, credit repair is a federally protected consumer right and can be a valuable tool for boosting your score. However, before you sign up with one of the best credit repair companies, be sure you know what to expect and what to avoid.
Credit repair is the process of disputing inaccurate information on your credit report. While the three major credit bureaus – Equifax, Experian and TransUnion – work to maintain accurate information, mistakes do occur. A credit repair company can help you dispute these errors and hopefully get them removed from your report, which should ultimately improve your credit score.
Inaccurate credit information on your report can cause a wide variety of problems, including being denied loans or even employment, not to mention higher interest rates on mortgages and other forms of financing. The first step in the credit repair process is obtaining your credit report from each of the three major credit reporting agencies (Equifax, Experian and TransUnion). Once you have these reports, look over them carefully for any incorrect or incomplete information. The best credit repair companies will then help you to challenge these inaccuracies with the appropriate credit bureau or furnisher.
During this process, the credit repair company will also typically work to uncover any questionable items on your report that could be indicative of identity theft or other illegal activity. These types of inquiries are often more difficult to remove, but the best credit repair companies will work diligently to uncover and correct them.
Another service offered by the best credit repair companies is to help you understand your rights and the legal processes involved in disputing incorrect information on your credit report. This is particularly important if you decide to take on the process on your own. The best credit repair services will provide you with a copy of your consumer credit file rights upon signing up and will continue to inform you of these throughout your membership.
Among the best credit repair websites is Lexington Law, which has been helping consumers improve their credit since 2004. They bring a legal edge to the credit repair game with paralegals and lawyers guiding clients through the process. In addition to traditional credit repair, they offer a full suite of financial apps and identity theft protection services and have a tiered pricing structure that allows customers to choose their level of support. They have a reputation for delivering results and claim that their clients have seen more than 77 million negative, inaccurate items removed from their credit reports. Their site is loaded with helpful resources, including a loan calculator that can help you estimate the costs of a mortgage loan when your credit scores fall in the fair or lower range. You can also download a free copy of the Lexington Law app, which can be used in conjunction with their credit repair services to track your progress and identify potential issues early on.