Credit Repair Services & Reviews

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There are literally hundreds of credit repair companies that have sprung up in the last two years in the country due to the problems in the mortgage crisis and real estate crisis. Each company touts a unique solution to a problem, and so the challenge is identifying which process, which company and what your real credit needs will best suit you.

Because it’s confusing and there is so much bad information on the Internet on TV and radio, it can be quite confusing for many people as to where to begin the search. It’s my intention to share with you, what I’ve personally discovered about several of the companies actively selling services in the credit repair space.

Credit repair has become extremely valuable resource to help people get their lives back on track. Keeping this view in proper perspective is what I feel holds the greatest value of service… which is being in service to people that need help. In 2004, when this real estate market was heating up, people were grabbing property left and right all over the place as quickly as possible. The market was on fire, lenders where lending on nearly any loan and investors and homeowners where making money left and right. Credit was easy to obtain and credit repair services where needed but not like today.

Given the occurrences of these last two years, people have lost billions and billions of dollars of hard-earned equity…they see credit repair as a possible salvation and safe haven. Unfortunately, there are companies, in any industry, that don’t take care of people the way that they expect to be taken care of. So having crystal-clear expectations of results up front, we’ll substantially reduce the internal pressures you feel, and as a result have your experience, be positive, powerful and uplifting. I believe that this is the goal or should be the goal, in any business transaction. To make your choices, better informed, I’ve put together a simple list of companies that claim to be “tops in the industry”, and I reviewed their websites, how they market, and have even called their sales people asking questions about what they do!! I hope this proves valuable to you as it was to me!!

If any time, you want to talk about your specific situation, your set of circumstances or what’s most important to YOU… I personally want YOU to know that you could call us seven days a week.

Credit Repair Company Reviews

(I actually called each company and already did the “heavy lifting” for you!!)

Lexington Law – is a disputing company that’s been around for a number of years. They charge $39 a month and $99.95 to register for the program to keep disputing information. Upon interviewing a representative, the rep said, “most clients stay in the program 4.6 months before they leave or drop out”. Dropout? If you’re looking for personal care, this may not be the BEST place.

Their level II program, called Concorde $59 a month & $99.95 for the “first work”. They will do a debt validation, which is a legal process to determine the validity of a debt, which requires 45 to 60 days additional time. The third service is called Concorde – its $79 a month $99 “first work” and it includes an additional product relating to your credit score…that I see as a waste of money. These credit scores may not be FICO driven and as a result, you’ll have a bad surprise and an inaccurate credit scores. Why is this? They are consumer driven scores and will not give you accurate information – especially if you’re looking to qualify for home!

DSI – We called DSI today Friday, April 30, 2010. The voice mail said. “Thank you for calling DSI “hi, it’s December 10 we are out of the office today and we’re unavailable”. December 10 that was nearly 5 months ago!! So imagine what type of service you could get if they don’t even change the voice mail! DSI is what’s known as a “1970’s” disputing company. They send information via letter to the credit agencies in the hopes to actually get some of the information deleted or removed or modified off the credit report. As part of your service you receive a “welcome e-mail” and a phone call once every two weeks. You’re required to receive credit reports from the credit agencies, and then fax or e-mail the originals back to the company. Of course if you fail to send in your information to them, you could potentially forfeit your results. They claim that you will “see results within the first 60 days”. This could mean perhaps a dispute has been removed or an inquiry has been deleted, or perhaps a late payment removed. Regarding their guarantees, they compare their guarantee to other companies “warranty” – and I don’t get the difference, This a company that invests time and energy working with the credit reporting agencies, which is a slow and cumbersome process that could easily take 6 to 9 months of time. They charge in $19 setup fee in three payments of $89. In another paragraph it says “you can expect to see results within as little as 45 to 60 days.” So which is it 45 or 60 days? Under frequently asked questions page. They then say, “we generally tell all of our clients that they can expect anywhere from three months to see a noticeable difference, to six months to complete this service… credit repair is a process..“we can only move at the credit reporting agencies courthouses and creditors pace.” That’s not fast at all…Why would waste YOUR time with a 6, 9 or 12 month “painfully slow ” disputing program?

Instead, have YOUR scores completed within 31 days
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Blue Sky Credit Repair Service

Blue sky credit repair service states that they have been in business since 1989. You can register for their programmer for a $49 setup fee and just $49 a month… get this. Their site says they spend “six days performing a “detailed evaluation of your credit report.” YIKES!! I don’t know about you, but in six days — if I’m a loan officer, or looking to buy a home, or in the middle of an important real estate deal — my deal is dead!!

This is another company that uses debt validation as a method to remove information off your credit report, once the data comes back and is proven valid, it will be updated on your credit report and thereby lower your credit score! This is not the direction you ultimately want to go. They do charge a fee for your spouse. Another disputing company.

Veracity Credit Repair

This company charges a $69 sign-up fee and $49 a month. They include a free credit report with sign-up, which is a nice feature, but if your looking to buy a home or refi, you get a free one from your loan officer (they just can’t give it to you). The platinum program charges a $99 sign-up for $79 a month and also give you free credit report when you sign up. On their results page, of what you can look forward to, this company says we cannot guarantee you a specific score and they will advise you as to the “little known behaviors” you can adopt that can improve your scores. The company is operating hours are from 8 to 6, although when I called during their business hours and the voice mail service was on and nobody answered the phone. This is the resounding theme in dealing with credit repair agencies and oftentimes most businesses, the lack of accountability, responsiveness to be in communication with existing customers.

Ovation

At $37 a month plus $87 sign-up fee, this is the cheapest company doing credit repair. It’s run by attorneys, so you know you’re never going to actually be able to reach one of them! They offer a fast track service for $25 per that looks like a simple up sell and I see no real value in the $25. They distinguish the fast track service as actually signing you up — that is the fee is actually for signing you up and expediting your file. Why is there an extra fee for that anyway? Man I hate extra fees! This company is a disputing company — a 1970s style, with a really cool website…kudos to your designer! This company also provides an “identity optimization” program. Identity theft is a major problem in the product appeals to people that have had their identity stolen. The fact is, 75% of all identity theft is actually caused by people in your own family! This company charges $25 Dollars to put you in to their “Optimization” plan, I would save your money and go directly online and you can dispute this information for free. On the company’s frequently asked questions area, the question” how long will it take to repair my credit.” states that “our clients typically start seeing results in 45 to 60 days” and “The average length for our clients is 6 to 8 months.”. In 6 to 8 months, any potential deal that you’re looking to do, to purchase or refinance, will long be gone and the opportunity will be gone!! If you’re a Loan Professional, this is not for you! This program could be for you, if you’re willing to wait a year to get your results.

Apex Credit

Right off the bat, Apex’s website is completely annoying! There’s music on the site and it goes back and forth and it’s annoying. There’s not much information about costs and fees, time frames or results. I called the company and guess what….yep, I got the voice mail. Why, can’t companies simply pick up the phone and be available?

Academy Credit

This company does at all. They offer you credit cards, they’ll settle your debt, they offer you a personal “credit mentor”, they offer you loans. I must say I like these guys, or at least their website. The differences in their programs: in the first two programs they offer, they do not provide your case analysis on a consultation – providing no priority data entry and no credit direct disputes. No line item disputes and no credit repair insurance” — what the heck does that mean??? That’s a new one on me! In the second service, their gold service, they analyze your credit report… You have to spend $199 initial fee plus a monthly fee of $69.95. This is once again a classic “1970s disputing company”. They offer some pretty cool things, but their refund policy is pretty darn weak. It states “if the following are true, we will refund you monthly fees. 1. Academy cannot demonstrate any progress with your case. 2. You have forwarded to Academy on a timely basis, all the necessary documents which enable Academy to perform work on your case 3. Here’s the kicker — you have been on our service for a minimum of 12 months! 12 months. You have got to be kidding me!!!

National Credit Fixers

This is another disputing company as well. On their refund policy they say, “we will refund all monthly payments if we do not remove more than 25 percent of all the negatives we work on….within six months from the time our services are retained.” The agreement further states that you must have at least four negative items on your credit report and have never used credit counseling or consulting services or attempted to repair your own credit within two years of sign-up with their company and that unpaid collections in unpaid charge-offs do not qualify for the warranty. They have a piece of software that is displayed on their website. That is effectively a juiced up “CRM” combined with disputing software that retains information on the client. It’s nice to know your personal information is stored somewhere on a server that some hacker could break into. A little too uncertain for my taste…

180 Credit Solutions

This, “don’t mess with Texas” based credit Repair Company, is the first company that I found that “guarantees 100% permanent results”. Now I don’t know if this is a good thing or not to have guaranteed “100% permanent results” — what are you actually guaranteeing? This is another disputing company, and they claim that they will not exceed 180 days. They do not outline the cost of the program, offer you a free credit analysis, using your credit reports. And they offer a multi-person discount. On their website they show examples of what credit report looks like before-and-after they dispute the information. You can see on the bottom left hand corner of their PDF form Equifax on one of their clients, or it says EQ — the first round page. This is a classic example of a disputing company.

4  Steps on How YOU can avoid a bad credit repair experience

1. Any company that wants you to pay for credit repair services before they provide any services. It is against the law.
2. Avoid any credit repair company that will not tell you your legal rights and what you can do, yourself, for free.
3. Avoid any credit repair company that tells you not to contact a credit reporting company directly. Avoid any credit repair company that advises you to dispute all of the information in your credit report.
4. Avoid any company that suggests creating a ‘new’ credit identity – and then, a new credit report – by applying for an Employer Identification Number to use instead of your Social Security number. That is against the law. If you follow illegal advice and commit fraud, you also may be subject to prosecution!

The FTC advises “that only time, a conscious effort, and a personal debt repayment plan can improve your credit report”. The first step is to learn what information is in your credit report. If you find errors or mistakes, federal law gives you the right to have them corrected –free of charge.

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