Credit Repair

6 Things You Can Do To Check If A Credit Repair Agency Is Legitimate And Reputable

With the very fact that more people are now going through tough financial phases, the number of people who are looking out for the services of a reputable and legitimate credit repair agency is only increasing. The unfortunate thing is that many consumers never care to check the legitimacy of an agency before signing up and sometimes they eventually have to pay heavily for this mistake when they realize that the agency they signed up with is actually an unscrupulous one. Therefore, it is crucial for you to spend some quality time in doing a thorough research to find out if the agency you are considering signing up with is the right one for you. Following is a brief rundown on six things that you can do to make an informed decision in this regard.

Review Their Fee

When it comes to checking the reputation and legitimacy of a credit repair agency, the first thing you have to do is to review their fee thoroughly. The best agencies never charge a hefty amount of upfront fee. Make sure the fee is a reasonable one. In fact, if you do an in-depth research, you can even succeed in finding government-approved agencies that offer their services free of cost. The most important thing to note here is that the agency should never charge any fee in advance. As per the credit repair laws applicable in the United States of America, it is illegal for such companies to charge advance fee; they must charge their fee only after they have done what they promised. Make sure you are well aware of your legal rights in this regard.

Do A Thorough Evaluation Of The Promises They Are Making

A credit repair agency who is making highly alluring promises and claiming that they can fix your credit score within 24 hours or that they can get all negative entries removed from your credit report (even though those entries are correct) is an unscrupulous one. Always remember, the promises that sound too good to be true, they probably are. Besides that, it is also important for you to keep in mind that when it comes to repairing credit, there is a specific procedure one has to follow and it takes time. So, there is no legitimate way to get the errors fixed within 24 hours. You must be wary of those companies also that claim to get entries like bankruptcy or foreclosure removed from your report. This is again not possible unless 7-10 years have passed since the bankruptcy or foreclosure event.

Contact The NFCC

You can also contact the NFCC to check if a particular credit repair agency is a legitimate one. NFCC stands for National Foundation for Credit Counseling. If an agency is a member of this organization, it is a good indication that the company is not just a legitimate one but is also duly accredited by the COA (Council of Accreditation). NFCC’s member agencies do not just offer credit repair services; they also offer credit counseling and debt management services. The organization also requires its member to get accredited every four years and the accreditation is approved only if those agencies comply with the industry’s best-practices standards.

Contact The FTC

You can also contact the FTC (Federal Trade Commission) to find out if the credit repair agency you are considering signing up with is a legitimate and reputable one. You can visit the official website of the FTC to find out if a particular agency is black listed. The FTC never tolerates the unethical behavior of illegitimate companies. Therefore, if you suspicions about the legitimacy of any particular agency, it is your duty as a responsible consumer to file a complaint against them with the FTC.

Check License

A legitimate agency must also be duly licensed. You can visit the office of the state’s Attorney General to verify if a particular company is licensed to offer credit repair services in your state.

Find Out If There Have Been Complaints Against The Agency

In order to find out if there have been complaints against a specific agency, you can contact the BBB (Better Business Bureau). However, here it is very important for you to keep in mind that just because a company has a clean record with the BBB, it does not necessarily mean that they are legitimate and reputable ones; it is just that are “likely to be” legitimate ones. You must also use the above steps in combination to get a better idea.

Overall, as you can see, the more informed you are, the better you can protect yourself from the scary claws of illegitimate companies. If you are considering using the services of a credit repair agency, you are strongly recommended to do everything to check their legitimacy first. This is where you will find the above suggestions quite helpful.


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Posted in Credit Repair, Credit Repair Services | 1 Comment »

One Response to “6 Things You Can Do To Check If A Credit Repair Agency Is Legitimate And Reputable”

  1. Macc says:

    Credit Repair is necessary but the selection of credit Repair Company is compulsory because if you give the important task of credit repair to a non reputable and unscrupulous company, you will be in trouble. The tips provided in this article are very useful; one can follow them to meet good results. The genuine company will always charge a reasonable amount of money as their fee and if you can find a company which is authorized by government it is quite possible that they do not take any charge from you. The companies are not liable to take any type of fee in advance. The most important thing is never trust the promises that are too sweet to be true. Some companies assure you that they will prove all the negative entries from your report, which is impossible; you can get the data about the company from BBB. The legitimacy of a company which has a membership of NFCC is surely a genuine and legitimate one. The genuine company must have a license to provide such type of services in your state. If you go through these steps one by one, you will be succeeding in getting your credit score rectified.

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