What Can A Credit Repair Company Do For You?

Written By Mary Beth Eastman
Last updated February 11, 2020

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November 2, 2018

Simple. Thrifty. Living.

If you have a low credit score or a large amount of credit card debt, then you’ve likely seen plenty of advertisements for credit repair companies promising to fix your credit. Many of the claims seem dubious and too good to be true, but there are actually reputable credit repair companies that can provide effective assistance, such as Lexington Law or Sky Blue. Check out our Lexington Law review and Sky Blue Credit Repair review to find out more about the companies.

Reputable companies such as those mentioned above will also tell you that you are, in fact, quite capable of repairing your credit on your own over time. But if you are seeking to rent an apartment, get a personal or car loan, or even get a mortgage, then you might need your credit repaired sooner than later. Then you might want to learn more about what credit repair companies can do for you.

Put simply, credit repair companies will gain a copy of your credit reports from the three major credit reporting bureaus— Equifax, Experian, and TransUnion. Then they will review each credit report and attempt to fix, remove, and repair any inaccuracies or outdated information on the reports that may be negatively affecting your score.

Again, this is something you can also do yourself, but without the knowledge and experience of what to look for and how to dispute the items with the credit reporting bureaus, the process could be lengthy, tedious, and at times, ineffective.

The best credit repair companies, like CreditRepair.com or Credit Saint, will continuously maintain contact with the credit reporting agencies on your behalf until all matters are resolved, including:

  • Notifying the agencies of inaccurate records
  • Negotiating with the agencies to remove or correct inaccurate records
  • Confirming all hard credit inquiries that have affected your credit score
  • Help you get a secured credit card to aid you in building up your credit again
  • Sending cease and desist letters to debt collectors

Ultimately, getting all of the above taken care of will help you raise your credit score quicker than you might have been able to do on your own. This can obviously help make you more eligible for loans and other services that require a good credit score.

Credit repair companies will typically charge a monthly fee for their services—reputable credit repair companies will not hold you to a long-term commitment. It should also be noted that nothing is guaranteed—a reputable credit company will not make any promises—if one does make a bunch of promises and guarantees, they should be avoided.

About the Author

Mary Beth Eastman

Mary Beth Eastman serves as the content manager for Simple. Thrifty. Living, where she is dedicated to helping readers use money and credit wisely. Mary Beth believes that access to the right financial information paired with a growth mindset are essential tools for getting out of debt and building wealth. Mary Beth has a degree in Journalism from Bowling Green State University and has focused her 20-year journalism career on putting readers front and center, carefully considering their concerns and presenting information that will help them in their everyday lives. She has won numerous statewide journalism awards. Her writing on personal finance as been featured on numerous websites in addition to Simple. Thrifty. Living, including Huffington Post and Lexington Law blog. Mary Beth resides in Pittsburgh, Pa., with her family and two rescue dogs.

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