According to GlobeNewswire, one in four Canadians reported in a survey that they had never checked their credit report. This number is even higher for Canadians aged 55 through 64, with 32% of them never having checked it.
This goes to show that many Canadians are not checking their credit score as often as possible. And when they do, it might turn out that they don’t have a high credit score.
If you’ve found yourself in this position, then you might be thinking about using a credit repair service.
However, you might not be sure what to consider when choosing the right service. If this is the case for you, then you might be overwhelmed by all the options available or stressed about choosing the right one for you.
That’s why we’ve put together this article. In it, we’ll review everything to consider when choosing a credit repair service.
Finally, you can repair your credit and get your finances and life back on track. Read on to learn more.
The first thing you want to do is compare the repair fees that credit repair companies charge as a start-up fee. Usually, this covers the cost of the analysis they do to find out in which ways you can repair your credit. This is before you start paying monthly for the service itself.
To get an idea of what rates are like where you are, call several companies, around ten of them.
Once you know what start-up fees are like, you can figure out what the average cost is. Then, if there are any credit repair services that have an exorbitantly high start-up fee, you can take these off your list.
Keep in mind that, even though it may be tempting, a credit repair service that charges a low amount or nothing at all for taking a look into your credit card situation is not a company to be trusted.
Many scam companies will use the position you’re in to take advantage of you, taking your credit details so they can use your credit information to get more money from you or make payments on your behalf.
For this reason, you should avoid any companies that have a low start-up fee or none at all.
In addition to the start-up fees, credit repair service companies will have a monthly fee. By comparing these repair fees the same way you did with the start-up fee above, you’ll be able to choose a repair service that’s both high-quality and affordable.
This monthly fee will cover the cost of repairing your credit once they’ve made the assessment of its state.
Keep in mind that, generally, the cost is usually somewhere between $79 and $119 each month.
When choosing a credit repair service, it’s best to go with one that has years of experience. This way, whatever your credit situation, they’ll know how to tackle it. If websites you visit don’t have this information, call up and ask about how long they’ve been doing their work.
Additionally, ask about the experience of everyone on their staff. Just because the company has been around a long time, this doesn’t mean that every agent working for them has been.
By ensuring that the person handling your credit situation has experience, you’ll get your credit score as high as possible.
When you’re contacting different credit repair companies about their rates, pay attention to how good their customer service is. Chances are, the credit repair experience you have will be reflected in how attentive and respectful they are from the start.
Ask the credit repair service representatives all the questions you have. If they answer clearly and thoroughly, then they’re likely to be thorough when they’re raising your credit scores.
Other customer services to look for include a 24/7 helpline, a detailed FAQ section on the website, and responsiveness when it comes to social media queries.
If the company has a bot you can ask questions to on their website, this is a good sign too. This shows that the company has invested in a service that enables them to take customer queries at any time.
When it comes to credit repair service options, it helps to take a look at what features they offer. Depending on what features you might need, one might be a better fit than another. These features include dispute limits, couples discounts, and more.
Many of these companies have a limit to how many disputes they’ll process for you. So if you have a low credit score that’s the result of many different disputes, then you should choose a credit repair service that doesn’t have a limit to how many disputes they take on.
When one of these companies offers unlimited disputes, they tend to be a bit pricier. For this reason, only go with this type of company if you think you’ll need the unlimited feature.
If both you and your partner need your credit repaired, then you can choose a credit repair service that offers couples discounts. This way, you can both save money, which will help you tackle your debts on the side in the meantime.
Identity Theft Protection
When you’re giving a large amount of personal information to a credit repair service, you might be feeling nervous about the possibility of identity theft. If this is something that worries you, you can choose a service with identity theft protection for peace of mind.
Free Credit Monitoring
If you want to keep track of how your credit is doing as the service repairs it, then you can choose a credit repair service that offers free credit monitoring. This can also help guide the purchases you make and debts you pay off while they do their work.
When you’re getting a credit repair service, you’re already in a financial situation that you’d like to improve. The last thing you want is to spend money on this service only to find that your credit hasn’t been repaired significantly.
If this is something you’re stressed about, using a service that has a money-back guarantee can reassure you that if you don’t get the results you want, you can get your money back and use another service later.
Generally, this is also a sign that the company will act professionally. After all, they’d lose money constantly if customers weren’t happy with their services.
Some companies will provide you with a personal loan while rebuilding your credit. This can be very helpful in the case when you need a loan but can’t get one because of your credit situation. Whether you need to buy a car or make a home repair, you can do that now.
This can help you feel like you’re less stuck in your situation—all the while helping you get out of it, too.
Online Customer Reviews
Before choosing a credit repair service, you should take a look at their online customer reviews. First of all, look on the website. If they have reviews on there, this shows that they take pride in the work they do and have enough happy clients to show off their work.
You should also check on more objective review websites like Google Maps and Yelp. This way, you’re more likely to find some of the lower-rated reviews.
When reading through these negative reviews, look out for any red flags such as identity theft, no change in credit situation, and scammy problems such as stolen money.
Remember that companies are able to fake their own reviews. Here’s a guide on how to figure out if the reviews are fake. When it comes to something like your credit, you need to be more careful than ever when looking at reviews.
Looking for a Credit Repair Service?
Now that you’ve learned about everything to consider when choosing a credit repair service, you might need additional information. Maybe you want help finding the right credit repair service for you. Or maybe you’re in need of a loan in the meantime.
Whatever information you need, we can help. At 24Cash, we’re experts when it comes to credit and loans. We also offer bad credit, no credit, and payday loan alternative loans. To learn more about how we can help you, contact us now.