You need to ask potential credit repair companies a set of questions to ensure they’re reputable and capable of repairing your credit.
You’ve done your research and understand how a credit repair company works and skimmed through companies checking for signs they can be trusted. Now it’s time to call them and verify they are who they say they are, as well as ask them questions to show they are a good fit for you.
Yes, there are many new credit repair companies popping up across the United States, hence the alarming number of people with low credit scores nationwide! (Buyer beware) – New York Times, some credit repair companies are illegally charging customers excess fees!
A credit repair company usually acts like a consultancy that can help you achieve your desired credit outlook. Sometimes, they go above and beyond and also help you maintain your credit as well. They can help you understand and learn how credit works and the methods needed to improve your credit score.
If you are looking to improve your credit score and need assistance to manage your finances, here are some questions you should be prepared to ask your credit repair company.
What are your qualifications?
Do not take a credit repair company for granted. The first thing you should ask them is to provide proof of their qualifications. For a company that is going to be handling your finances, you should be able to trust them.
Your credit repair company should be able to provide their credibility so don’t be afraid to ask for success stories from past clients or check for reviews.
A good repair company should also be well connected with reliable loan officers and mortgage brokers.
What are the benefits you reap from establishing a relationship with them?
Once you are satisfied with the qualifications of the company and are sure about their authenticity, you can inquire more about what gains you should expect from them.
Here’s where you should keep an ear out for any elaborate promises any company representative may make. Remember that it’s not a credit repair company’s job to guarantee an improvement in your credit score.
A good company will use credit repair software to maintain a record of the scores and of any improvements made.
What role do I play in the process of credit repair?
As the client, your interest in participating in the entire process is very important. There are many ways in which the company is entirely dependent on your active participation to speed up the process and actually materialize your combined efforts. This is even more significant when it comes to paying off balances and taking the decision to apply for credit or close old accounts.
You may also need to provide necessary documentation when it comes to dispute letters which are written for you. Similarly forwarding the correspondence to and fro relevant parties will be your job.
What information does the company require from me?
To make sure you’re not left behind on the paperwork that needs to be done, your credit repair company should notify you of all the items you need to bring with you. For example, credit reports from the credit agencies and how you’ve decided to plan your credit.
At Masters Credit Consultation we give free credit consultation and help you achieve your desired credit goal. We are a credit repair company and we are dedicated to help you manage your credit smartly. Visit our website for more information.