The credit repair industry has a bad reputation, and some of it is deserved. Still, there are companies out there that provide legitimate services, and they have been able to help many clients. Because it’s a law firm, you get the expertise of legal professionals with extensive experience in credit repair and credit laws. Credit Firm lawyers and paralegals may use aggressive methods to deal with the credit bureau and your creditors. Altogether we work towards eliminating inaccurate, unverifiable and incomplete information from your credit report.

The Credit Pros

Client education about avoiding scams and giving their personal details over the phone or online is also offered. A repossession will stay on your credit report for up to seven years, which means that all the late payments on a loan or credit card, as well as the repossession, will show up on your credit report. The repossession itself will also lower your credit score, making it harder to get approved for loans and credit cards in the future. Fortunately, you’ll have a chance to undo the credit report damage after a repossession, as the sale of a repossessed asset is often not enough to balance the amount you owe to a lender. In this case, your lender could possibly negotiate a new repayment plan with you so you can pay off the balance and restore your credit. If you’re able to make all your payments on time and keep your account in good standing, the repossession will eventually fall off your credit report.

Understanding The Credit Repair Organizations Act

The three credit agencies — Equifax, Experian, and TransUnion — typically evaluate credit on a monthly basis. Reducing debt presents the quickest path to improving your credit where you may see results in less than two months. Seeing results after removing inaccuracies will take about three to six months. Credit Saint is a solid choice for those seeking credit repair assistance, and its tiered services make it suitable for many situations. Its customer service team is also accessible through many channels if you have questions or concerns.

Its recent legal troubles with the CFPB are also cause for concern. As mentioned, the company settled with the CFPB for $2.7 billion in the summer of 2023 after an investigation into its business practices. A district court ruled that Lexington Law defrauded countless consumers by charging advanced fees for credit repair service s through telemarketing. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site.

The credit repair company will contact the major bureaus and financial creditors to dispute any errors. Paying your credit card balances in full every billing cycle can help you pay less in credit card interest than if you carry over your balance month after month. And it can ensure that you stay below your credit limits and avoid adding to credit card debt. Ultimately, the healthier a borrower’s credit reports and scores are, the more attractive the borrower may be to lenders.

While Credit Saint isn’t the lowest-price service around, its industry reputation, array of features, and 90-day money-back guarantee make it worth considering. The process can cost you money or require additional commitments, depending on your chosen approach. Factor in your free time, disposable income and other financial goals when weighing your options. The credit repair industry is full of scams, so be sure to vet a company’s track record before signing up for any services or sharing sensitive information.