The Biggest Problem With Business Management Consultant, And How You Can Fix It
- Get link
- Other Apps
01
What Are the Benefits of Hiring a Sales Consultant?
If you feel like you’re not reaching your full sales potential as an organization, you might consider hiring a sales consultant. But what exactly can a sales consultant help you with? And what are the advantages of hiring one over, say, just doubling down on your internal training?
What Does a Sales Consultant Do?
Let’s start with the basics. What does a sales consultant actually do?
As you might expect, different sales consultants and consultancies are going to provide different types of services and have different approaches. However, you can usually anticipate at least the following from your sales consultant:
The Benefits of Hiring a Sales Consultant
These are some of the best benefits of hiring a sales consultant for your organization:
Is It Worth It?
Hiring a sales consultant is highly advantageous and can solve several sales-related problems in your business. The biggest problem is that certain sales consultants can be expensive. So is it worth the money?
That depends heavily on your current organization, the results you’re currently getting, your goals, and the consultant you hire. But many organizations do find it worthwhile to hire a sales consultant; even though they incur a temporary expense, they end up multiplying clear sales results many times over.
Facebook's Biggest Problem: Mobile
NEW YORK (
TheStreet
) -- Reading
The New York Times
and
The Wall Street Journal
this past weekend, you would have thought that the biggest issue facing
(FB) - Get Meta Platforms Inc. Class A Report
is whether it should stay listed on
Nasdaq
or move to the
New York Stock Exchange
.
This issue is a total sideshow, and I would fear for the company if CEO Mark Zuckerberg was spending any time thinking about it.
Scroll to Continue
No, the big issue dogging Facebook these days is the shift to mobile from the desktop.
Many speculate this shift happened much faster in the second quarter than anyone had expected, and that it was responsible for the reduced guidance in the days before Facebook's initial public offering that spooked big institutional investors and hammered the stock.
We'll find out how true that is later this month when Facebook has its first earnings call as a public company. It will be whatever the equivalent of "Must See TV" is for corporate conference calls.
There's already good evidence piling up that the rapid shift to mobile from desktop is happening at "blazing fast" speeds.
The biggest evidence seems to be coming from Facebook itself. The company keeps providing "tips" to various newspapers and tech blogs that it really has a fix on this problem.
Facebook Status Update: 'Like', but Not Love>>
It started last week. Facebook invited
The New York Times'
tech blogger Nick Bilton to witness the next version of the company's mobile app, which will be available sometime this summer.
Bilton discusses how -- despite being one of the most popular apps in
Apple's
(AAPL) - Get Apple Inc. Report
App Store -- the current app's slow speed is maddening most users.
Bilton explains that the reason for this is that the app heavily relies on HTML5. The new one is built in "Objective-C." The takeaway for readers and Facebook mobile users is: Don't worry -- we've got a bead on this.
Today, I read a fascinating piece by Mike Isaac in
All Things D
where various Facebook folks articulate to him how well-thought-out their mobile strategy is. This all comes straight from the top apparently (when doesn't it at Facebook?). There are all kinds of assurances that well-qualified people have stepped into the gap left by the departing CTO.
I also really enjoyed hearing from one of the product managers that Facebook's "first pivot" was becoming "mobile-first." That says so much. It is meant to convey that everyone who works in Facebook engineering thinks "first" of how some feature is going to look on the mobile app instead of how it's going to look on the Web site.
It's also priceless that whoever said this thinks it's a sign of maturity to describe this shift as Facebook's "first pivot." Only someone who's embedded deep in the Valley echo chamber thinks it sounds intelligent to use the word "pivot."
It's not an existential crisis at Facebook, this whole movement away from our core product to some new mobile environment where users may not want to come back to our site
, this person appears to be saying.
It's a pivot
.
The Digital Wallet's Future Is Now>>
When you use the word "pivot," you're downplaying some crisis that you're going through. Why didn't all companies throughout history that faced a market moving away from their core offering figure out this pivot thing? Betamax should have just pivoted! What were they thinking?
Also interesting to me in the
All Things D
piece was how the new and improved mobile team at Facebook is apparently embracing how mobile is fracturing Facebook's monolithic "platform" into itty-bitty pieces. You now will have Facebook Messenger as an app and Facebook Camera as an app. Hey, it's a solution to the slow-moving main service. Just break it up.
Except this is one of those reverse synergies where the separate parts are less than the whole. If I'm going to go into my "blazing fast" Facebook Messenger itty-bitty app, maybe I'm going to start comparing that piece of the Facebook experience to iMessage. I'll probably conclude after a little while that I don't need the hassle of dealing with Facebook Messenger over time and that I should just default to iMessage.
But if I stop using different parts of the Facebook "platform" over time, then what is Facebook in this new mobile world?
I'm starting to feel a little bit too much like Jean-Paul Sartre sitting on Paris' Left Bank, so let me just say it seems Facebook is really worried about mobile. Otherwise, it wouldn't be working so hard to convince us that it has the problem taken care of. But does it?
It reminds me a bit of when
Research In Motion
(RIMM)
was getting hammered in the press 18 months ago and its co-CEOs decided to leak to
The Wall Street Journal
that they were working on a tablet to compete with Apple's iPad. The stock jumped the next day on that news. Eighteen months later, where are we?
At the time of publication, Jackson held shares of AAPL.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Eric Jackson is founder and Managing Member of Ironfire Capital and the general partner and investment manager of Ironfire Capital US Fund LP and Ironfire Capital International Fund, Ltd. In January 2007, Jackson started the world's first Internet-based campaign to increase shareholder value at Yahoo!, leading to a change in CEOs in 2007. He also spoke out in favor of Yahoo!'s accepting Microsoft's buyout offer in 2008. Global Proxy Watch named Jackson as one of its 10 "Stars" who positively influenced international corporate governance and shareowner value in 2007.
Prior to founding Ironfire Capital, Jackson was President and CEO of Jackson Leadership Systems, Inc., a leadership, strategy, and governance consulting firm. He completed his Ph.D. in the Management Department at the Columbia University Graduate School of Business in New York, with a specialization in Strategic Management and Corporate Governance, and holds a B.A. from McGill University.
He was previously Vice President of Strategy and Business Development at VoiceGenie Technologies, a software firm now owned by Alcatel-Lucent. In 2004, Jackson founded the Young Patrons' Circle at the Royal Ontario Museum in Toronto, which is now the second-largest social and philanthropic group of its kind in North America, raising $500,000 annually for the museum. You can follow Jackson on Twitter at www.twitter.com/ericjackson or @ericjackson.
You can contact Eric by emailing him at eric.jackson@thestreet.com.
Best Credit Repair Companies: Top 7 Services To Fix Your Credit in 2022
If you’re looking to improve your credit score or fix errors on your credit report, hiring a good credit repair company to handle the process for you is a wise decision. The best credit repair companies work on your behalf with the major credit bureaus to remove negative items that are hurting your credit score such as charge-offs, late payments, debt collections, and bankruptcies.
To help you find the best credit repair service for your needs, we’ve reviewed the top credit repair companies on factors such as effectiveness, reviews, speed of results, company reputation, and price.
If you’re ready to repair your credit and save thousands of dollars per year in interest, here are our top picks for the best credit repair companies of 2022:
Top 7 Best Credit Repair Companies of 2022 #1 Credit Saint: Best Overall
Credit Saint is our top choice for the best credit repair company of 2022. Credit Saint has had an outstanding A rating at the Better Business Bureau for over 10 years and has helped thousands of customers successfully improve their credit scores.
Credit Saint starts by offering you a free consultation to go over your FICO credit score and to identify negative items that are damaging your credit. Once problem areas have been identified, Credit Saint will send challenges to all 3 credit bureaus on your behalf in an attempt to remove inaccurate information from your credit report.
Credit Saint can help remove questionable negative items such as:
Credit Saint is one of the most aggressive credit repair companies (which is a good thing) but they understand that one size does not fit all. Credit Saint has 3 different service packages to choose from, depending on your credit repair needs.
The Credit Polish package includes challenges to the 3 major credit bureaus, free score analysis, a credit score tracker, and 5 challenges of negative items per dispute cycle.
The Credit Remodel package includes everything in the Credit Polish package but also includes inquiry targeting, on-going credit monitoring through Experian, and 10 negative item disputes per cycle.
The Clean Slate package is the most aggressive option available. It includes everything in the above packages, but also comes with sending Cease & Desist letters on your behalf as well as challenging an unlimited number of inaccurate items on your report.
Overall, Credit Saint offers the best bang for your buck among all credit repair agencies we’ve reviewed. Their A+ rating at the Better Business Bureau is the best in the credit repair industry and they also offer a 90-day money back guarantee for their services. If you want a free credit consultation to see if they can help, you can talk to one of their credit pros for free without any obligation.
Click Here To Visit The Credit Saint Website For More Information
#2 Lexington Law: Most Experienced Credit Repair Firm
Lexington Law is the most experienced credit repair firm in the United States with over 7 million removals from their clients’ credit reports in 2020.
Lexington Law is a firm with a team of paralegals and lawyers that use specific laws to protect your credit from situations that may be out of your control. This credit repair firm can help you if your credit score has been negatively affected by:
Lexington Law first works by obtaining a copy of your credit reports and then analyzes them for negative items that are harming your score. Their law firm will then send disputes on your behalf to challenge inaccurate items. They’ll provide you with an online dashboard, so you’ll have access to your progress every step of the way as well as solutions that can help you repair your credit even faster.
Lexington Law provides 3 different credit repair options to choose from, depending on your needs. Price ranges from $89.95 to $129.95.
The Concord standard service is their basic package with prices starting at $89.95 per month. This includes challenging harmful items with the 3 credit bureaus as well as your creditors.
The Concord premier package includes everything in the standard service as well as score analysis, TransUnion alerts, and removing hard inquiries. This option costs $109.95 per month and is their intermediate service.
PremierPlus is their top of the line credit repair service that includes everything in the above packages as well as cease and desist letters, FICO score tracker, identity theft protection, and a suite of personal finance tools. This is their most powerful package at a price point of $129.95 per month.
Overall, Lexington Law is one of the most experienced credit repair agencies that you’ll find. They’re a little more expensive than other credit repair firms, but their quality of work is unmatched.
Click Here To Visit The Lexington Law Website For More Information
#3 Sky Blue Credit: Best Value
Sky Blue Credit is the best credit repair company if you’re looking for transparent pricing and excellent value. Rather than offering multiple credit repair options and service levels to choose from (which can be overwhelming), Sky Blue Credit offers all of its services for a flat-rate of $79 per month.
Sky Blue Credit Repair disputes 15 items on your credit report (5 items per bureau) every 35 days. This is a great value compared to credit repair companies that only dispute items every 45 to 60 days, charging you monthly fees during the process.
Once you sign up with Sky Blue Credit, you’ll be provided a detailed analysis of your credit history including any hard-to-spot errors that could be harming you. Once problems are identified, the Sky Blue credit pros will send customized disputes on your behalf. They also will send re-dispute letters if necessary, to maximize their chances of success. They also check on the statue of limitation for any debt you have as well.
Sky Blue offers their services free of charge for the first 6 days while they gather your reports and also offers an impressive 90-day money back guarantee. If you’re looking for the top credit repair services while on a budget, Sky Blue Credit is a great option to consider.
Click Here To Visit The Sky Blue Credit Website For More Information
#4 CreditRepair.com: Free Credit Score Analysis
CreditRepair.com is one of the top credit repair companies for challenging inaccurate information on your credit report. CreditRepair.com has helped with over 7.5 million removals on their clients behalf since 2012.
When you sign up with CreditRepair.com, they’ll immediately retrieve your credit report and analyze it to find items that may be invalid, inaccurate, or misleading. They will then build you a personalized credit repair plan to not only remove negative items that are hurting your score, but also provide a strategy for rebuilding positive credit.
After thoroughly analyzing your credit reports, CreditRepair.com will begin challenging the negative items that are likely having the biggest impact on your score. They have several different methods for repairing your credit including debt validation letters and goodwill letters.
CreditRepair.com offers 3 different credit repair service packages depending on your needs.
Direct – This is their entry-level package and includes up to 15 negative items challenged per month, and 3 creditor disputes per month. This plan costs $69.95, which is one of the lowest monthly fees in the credit repair industry. This plan is recommended for those with only a handful of negative items.
Standard – This package includes everything above plus cease & desist letters to creditors, quarterly credit score analysis, hard inquiry challenging, and 24/7 credit monitoring. This package is $99.95 per month.
Advanced – This is their most comprehensive credit repair plan and includes up to 19 negative item challenges per month and 6 creditor disputes per month. Additionally, you’ll also receive your monthly FICO score, ID theft protection, $1 million in identity theft insurance, and an array of personal finance tools. The advanced plan is just $119.95 per month, which is a pretty good value considering everything that’s included.
Overall, CreditRepair.com is one of the best options when it comes to credit repair. They have the top-rated credit repair app in the industry, which is available for both Android and iPhones.
Click Here To Visit The CreditRepair.com Website For More Information
#5: The Credit Pros: Fastest Service
The Credit Pros is a fast-growing credit repair agency that has been in business for over 12 years and is trusted by over 200,000 clients nationwide. They maintain an A+ BBB rating and are consistently rated as one of the best credit repair services by many independent review sites.
The Credit Pros offer 3 different credit repair packages to meet the needs of all clients. Whether you’re looking for credit score monitoring or a full-fledged credit repair service, you’re likely to find a plan that meets your needs and budget. Here are the 3 packages that are offered by The Credit Pros.
The Money Management package is their entry-level plan that starts at just $49 per month. It includes Transunion credit monitoring, identity and dark web monitoring, as well as CashRules finance manager. The CashRules finance manager offers the ability to integrate your banks, set budgets, get alerts, and easily track transactions.
The Prosperity Package is $119 per month and should fit the needs of most credit repair clients. It includes everything in the Money Management package, but also offers 3-bureau credit repair. The AI-driven credit repair process includes:
The Success Package is $149 per month and includes everything above + a guaranteed $1,500 line of credit. With the credit line, they report directly to Experian and Transunion, so you can improve your credit scores faster.
If you’re not sure what plan is right for you or if you have questions about your credit, you can request a free, no-obligation consultation to see if they can help.
Overall, The Credit Pros is one of the best options when it comes to hiring a credit repair agency. With unlimited disputes, 24/7 access to client portals, and identity theft protection with every plan, you can’t go wrong with The Credit Pros.
Click Here To Visit The Credit Pros Website For More Information
#6 The Credit People: Best Guarantee
The Credit People is one of the top credit repair companies of 2021. This company has been in business for over 15 years, offering both monthly pay-as-you-go and six month flat-rate service plans.
The Credit People markets itself for unbeatable customer satisfaction and has earned features in The New York Times, Wall Street Journal, and SmartMoney.
The Credit People says that it can improve your credit score by 53 to 187 points. It’s important to note that these figures are estimates because credit repair companies cannot guarantee their services. (More on this in a moment.) The company also has had nearly 1.5 million negative items removed from credit reports since 2004.
The best overall company for repair speed has an equally impressive pedigree for quality. According to The Credit People website, lenders approved 71% of its users for home loans, and 78% secured auto loans. Its average customer saw a 32% improvement in their credit score after joining.
Some of the other perks of joining The Credit People include:
The company charges an annual fee of $419 rather than a monthly one, making it cheaper than other credit repair services. You can try The Credit People for one week for $19 to see if you like it. The company also offers a 60-day money-back guarantee.
Click Here To Visit The Credit People Website For More Information
#7 Ovation Credit Services: Best Customer Service
More than 120,000 people have already improved their credit score, thanks to Ovation Credit Services. This credit clean up company has made a name for itself with cost-effective results and outstanding customer support. Ovation Credit Services takes pride in building personal relationships with its customers and finding customized solutions to improve their credit reports.
All clients receive a free consultation during their initial appointment. The meeting gives case advisors a chance to review someone’s credit history and determine the appropriate credit cleaning services. Its site states that a quarter of people have at least one error on their credit report, and more than half have outdated information.
After you sign up to get started with Ovation Credit Services, your advisor will file disputes on your behalf. That can involve writing goodwill letters or contesting late payments with creditors. Ovation Credit works with credit reporting bureaus to make sure you have an accurate credit score.
This credit repair company has a first work fee of $89 for its basic package. After the first month, the work fees drop to $79 per month. Ovation Credit Services has a Better Business Bureau rating of A+ and a 4.3 rating on TrustPilot.
Additional Credit Repair Companies We Considered AMB Credit ConsultantsPros
Cons
Pros
Cons
Pros
Cons
Legitimate credit repair companies start the process by helping you request a copy of your credit report with each of the three major credit reporting agencies: TransUnion, Equifax, and Experian. An experienced credit professional will then examine your credit report for negative items that could be hurting your credit score such as:
After reviewing the derogatory items on your credit report, the credit repair company will start working with your creditors and the credit bureaus on your behalf.
Credit restoration services employ a variety of tactics to get harmful items removed from your credit report including:
Good credit help companies will also work with you to build positive credit history and provide tips to help optimize your credit score.
How We Chose The Best Credit Repair Services Reviews and ComplaintsWhen it comes to the credit repair industry, a company’s reputation is everything. In order to find the best credit repair companies, we took a look at reviews and complaints from a variety of sources including:
The Better Business Bureau rates and reviews most credit repair companies, providing a letter grade between A+ and F. Just as in high school, the higher the grade, the better. The Better Business Bureau gives A+ ratings to credit repair agencies that exercise ethical business practices, and it makes good-faith efforts to resolve customer concerns. Consider it a red flag if a credit repair agency has an F rating.
First-Work Fees
For each credit repair service we reviewed, we took into consideration each company’s first-work fees. First-work fees go by many names, including advance fees, discovery fees, and setup fees. Whatever you call them, they serve the same purpose.
According to Tampabay.com, the Credit Repair Organization Act requires that credit repair companies do not charge for credit repair services until after work has been completed. This rule has been put in place to protect consumers against fraudulent credit repair companies that charge an exorbitant setup fee and then fail to provide the agreed-upon credit repair services.
In order to abide by these new regulations, the best credit repair companies charge first-work fees. First-work fees are usually billed about 7 days after you sign up with a credit repair company and after the first-stage of work has been completed.
Credit Repair Services Offered
In order to find the best credit repair company, we took into consideration the credit repair services and packages offered. Credit repair shouldn’t be a one-size-fits-all solution. The best companies should offer a variety of credit repair options, depending on the level of service you need.
Many credit repair companies have tiered packages that vary by the number of services included. For example, some credit fixers offer unlimited disputes per month while others offer credit monitoring or identity theft protection in their premium plans.
When evaluating the best credit repair companies, we took into consideration the following:
Number of Credit Disputes Per Billing Cycle
One of the most important things you need to consider when hiring a credit fixing service is the number of monthly credit disputes included. Every time a credit repair company challenges a negative item on your credit report, it counts as a dispute.
Some reputable credit repair companies like The Credit Pros offer unlimited disputes per billing cycle, while other companies like Sky Blue Credit offer 15 disputes every 35 days. The number of monthly credit disputes will often depend on the credit repair package you choose.
An important thing to keep in mind is that a dispute has to be filed separately for each of the three major credit bureaus. So if you have a credit reporting error on all three credit bureaus, that will count as three separate disputes.
Additional Services
The best credit repair companies often offer additional services that help improve your financial well-being. These additional services may include credit monitoring, identity theft insurance, bill reminders, personal finance tools, credit repair software, and more.
Some credit repair companies also offer other financial services such as debt management or loan refinancing. When evaluating reputable credit repair services, we gave extra points to companies that provided credit monitoring and other financial tools.
Money-Back GuaranteeWhen evaluating the top credit repair services, we took into consideration the guarantee (if any) made by each company. According to the Credit Repair Organizations Act, companies aren’t allowed to guarantee results in order to acquire new clients. However, some good credit repair companies offer a money-back guarantee if results aren’t seen by a certain period of time.
For example, Credit Saint offers a money-back guarantee if they are unable to delete any questionable items from your credit report within 90 days. Other credit repair companies like AMB Credit Consultants don’t offer a money-back guarantee at all.
We believe that legitimate credit repair companies should offer a money-back guarantee if no successful disputes are made within a reasonable amount of time.
Cancellation PolicyThe Credit Repair Organizations Act (CROA) requires companies to tell the truth about their products and services. That includes providing customers with a mandatory cancellation period. Consumers have the right to cancel their credit repair services for free within the first three days.
When a company charges you, it must have already delivered its promised services. This process does not work the other way. If you believe you’re the victim of a scam, you can contact the Consumer Financial Protection Bureau.
Fees and CostsOne of the biggest criteria we used when evaluating credit repair companies was their pricing structure and fees. Some legitimate credit repair companies such as Pyramid Credit Repair offer all of their services for a flat-rate of $99 per month, while other companies such as The Credit Pros offer several pricing plans depending on your needs and budget.
We evaluated each credit restoration company on the following factors:
Credit repair companies are worth it when a bad credit score is preventing you from qualifying for a loan or is causing you to pay a high interest rate.
Although you can repair your own credit, it is a very time-consuming process. The best credit repair companies take the burden off your shoulders by handling the whole process from A-to-Z. They’ll help you gather credit reports, identify negative items, and work with your creditors on your behalf.
When you consider how many hours of time you will save and the fact that most credit repair companies only charge $79-$129 per month on average, it is definitely worth it.
How Much Does Hiring A Credit Repair Company Cost?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. A reputable 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.
You can buy credit repair software that cuts down the time to navigate credit reports and bureaus. Some companies have a freemium, where you can download the essential software and pay for exclusive features. Most credit repair software costs between $40 and $400, including our favorite, Turbo Score Home.
Do Legitimate Credit Repair Services Guarantee Results?No, even the best credit repair service can’t guarantee results. Consider it a red flag if a company says that they can increase your credit score by a specific amount or achieve gains in a particular time. There are too many variables at play to make promises.
Some companies may provide you with an estimate for certain milestones. If you have minimal negative marks and a brief credit history, a company may estimate a 100-point boost in the first six months. Note that the company hasn’t promised to increase your credit score by 100 points in that time.
Can Credit Repair Help with Identity Theft?Some credit repair companies, such as Sky Blue Credit, can help with identity theft. The company will help by contacting the three credit monitoring organizations and instructing them to block fraudulent information from appearing on your credit report. The credit bureaus must remove the fraudulent information from your credit history within four business days of receiving the correspondence.
Acting swiftly when identity theft occurs is crucial. Otherwise, the identity thief’s actions could add negative items to your credit report and compromise your credit score.
How To Avoid Credit Repair ScamsThe federal government passed the Credit Repair Organizations Act in 1968. The statute prohibits credit repair companies from making false or misleading statements about their products or services. Any companies that offer credit repair services must provide contracts in writing and give consumers a chance to cancel the arrangement within 3 days of signing up.
Credit repair companies cannot accept payment until they finish the services. Because it takes up to six months to repair credit, you can theoretically wait that long before paying, too. Many companies use a setup fee (first work fee) and monthly payment structure to circumvent this rule.
Being a smart consumer means knowing your rights. The Fair Credit Reporting Act Credit Repair Organizations Actlets you dispute any errors for free. You do not have to pay a company for this service, though it helps to have a credit professional on your side.
Exercise skepticism if the credit companies can’t give you a straight answer or if they provide misleading information. For instance, you should avoid any credit repair companies that tell you to avoid contacting the nationwide credit monitoring bureaus. Don’t let the company misrepresent your information by creating a new identity and credit report with your Social Security Number, either. Make sure they safeguard your privacy.
The Advantages of Hiring a Credit Repair AgencyIf you want to avoid the cost of hiring a credit repair company, you could attempt repairing your credit yourself. However, should you choose to repair your credit yourself, you will miss out on the following benefits of working with an expert:
Years of ExperienceThe best credit repair companies have years of experience helping customers fix their credit. Due to their experience, these credit fixers know the best tactics for getting results. These companies also know how to use the Fair Credit Reporting Act and Fair Collections laws to the advantage of their clients.
Save TimeDo you have the time to submit unlimited disputes to multiple credit monitoring agencies? Instead of spending your valuable time on such tasks, you can hire a credit repair company to handle the chore for you. That way, you can rest easy and focus on other things while the credit repair experts do the heavy lifting.
Save MoneyHandling credit repairs yourself may seem cheaper, but hiring a credit repair agency can save you money in the long run. After fixing your credit history, credit restoration companies can advise you on the best steps to take to restore your credit. With your credit restored, you can access lower interest loans, lower insurance premiums, and other perks.
Also, if you handle credit repairs yourself, you may have to hire a lawyer at some point, which costs more than employing a credit repair company.
Valuable ResourcesCredit score repair companies have access to resources that you lack. For example, some of the best credit repair companies have relationships with the three credit monitoring agencies. Their relationship with these organizations enables them to get responses faster than you can get them.
Additionally, these companies have letters and legal documents that they can tailor to suit your case. You would have to prepare these documents from scratch, and you might not do it correctly, which could delay your credit repair process.
How Do Credit Repair Companies Get Items Removed?Every legitimate credit repair company has its own unique methods for repairing your credit. Here are some of the most common methods credit improvement services use to fix your credit.
Goodwill Letters To Your CreditorsMost companies in the credit repair industry use creditor goodwill letters in an attempt to remove negative items from your credit reports. Goodwill letters are essentially letters that are sent to your creditors, nicely asking them to remove negative items that they reported to the credit reporting agencies. Goodwill letters sent to your creditors don’t always work, but they work more often than you’d think.
Cease and Desist Letters To Debt CollectorsCease and desist letters are letters sent to your creditors or a debt collection agency, requesting that they stop contacting you regarding your debt. According to the Fair Debt Collection Practices Act, if you demand a credit collection agency to stop contacting you, they must abide. Not every company offers these services, but many credit repair companies do.
Debt Validation LettersChallenge validation letters are sent to debt collection agencies or your creditors, requesting proof that your debt is valid or within the statute of limitations. If a creditor can’t prove that your debt is valid, the debt must be removed from your credit scores.
Fix Inaccurate InformationOnce you’ve signed up with the best credit repair company, you’ll be assigned a personal case advisor. They will work with you to go through your credit reports, looking for inaccurate data and questionable items that can be disputed. This is especially useful if you’ve been a victim of identity theft.
Negative Item ChallengesYou have the right to dispute any questionable items on your credit reports that you disagree with. By law, the three major credit bureaus have up to 30 days to respond to your challenge from the time they receive your dispute letter. Before you sign up with a reputable credit repair company, make sure you pay attention to how many disputes you are allowed to file per billing cycle. Some companies offer unlimited disputes, while offering a limited number of challenges per month.
Frequently Asked QuestionsWho is the most aggressive credit repair company?
The most aggressive credit repair company is Credit Saint. Their Clean Slate package offers unlimited challenges to the 3 major credit bureaus, score tracker, inquiry targeting, and creditor interventions.
Is it worth paying someone to fix your credit?
Yes, it is definitely worth it to pay someone to repair your credit. Although you can dispute items on your credit report by yourself, it can be a very frustrating process, especially if you’ve never done it before. A better credit score will save you hundreds of dollars per year in lower interest.
How to fix your own credit?
You can definitely take the DIY approach to credit repair, but it will take a lot of time and patience. This process involves writing dispute letters to your creditors and the credit reporting agencies. By law, the credit bureaus are obligated to investigate your claim within 30 days.
What is a credit bureau?
A credit bureau is a company that exists for the purpose of tracking credit scores and credit history. Credit bureaus provide this information to creditors and lenders to help them make important lending decisions.
What is credit repair?
Credit repair is the process of removing negative items on a credit report that negatively impact a credit score. Credit repair is often used to dispute negative items on a credit report such as late payments, hard inquiries, and charge-offs.
Why is credit repair important?
A large number of employers look at the credit information of applicants when making hiring decisions. People with a bad credit score could potentially lose out on their dream job. Additionally, a bad credit score can result in paying more interest on personal loans and mortgages.
How to maintain a good credit score?
You can maintain a good credit score by making payments on-time, limiting the amount of credit used, establishing different types of credit, and paying off debt.
How to find the right credit repair company?
In order to find the right credit repair company for you, look for companies that are BBB accredited, offer a free consultation, include free credit reports, and have a reasonable monthly fee.
Comments
Post a Comment
If you have any doubt, please let me know....