One thing we can’t run away from is the fact that the state of your credit score can positively or negatively impact your future investment plans. A bad credit history means a high probability of rejection when applying for a loan facility or a mobile phone contract. It also means that you will have to deal with high-interest rates not to mention the possibility of being locked in a contract for a prolonged period of time. It is no wonder then that most UK citizens with a poor credit rating are increasingly looking for ways through which they can improve it.
Though a good number of them try to fix their credit scores on their own, it is highly recommended that they enlist the help and professional services of credit repair companies or agencies. The agencies are up to date with what’s happening in the industry, any changes that have been effected and also have the resources to improve your credit score in the shortest time possible. That said, what are some of the factors that you need to take into consideration before you enlist the services of a credit repair company?
A good reputation is priceless. Before you hire a credit repair company, find out whether it has a good reputation, adheres to best business practices, continuous improvement, and customer satisfaction. A credit repair company with a solid reputation instills confidence and gives you peace of mind in the knowledge that professionals are in charge of your credit score restoration.
It will do you good to go for a credit repair company that has been around for a couple of years with proven results than to go for one that just opened shop with nothing to show. Experience matters when choosing a credit repair company as you wouldn’t want to gamble and hope for the best. Go for a reputable company boasting of a number of years in experience as they are better placed to restore your credit score professionally and in the fastest time possible.
Fee arrangement type
Granted, different credit repair companies have different types of fee arrangements. There are those who advocate for a “pay for removal” program while there are those that simply charge a predetermined fee monthly. As regards to a pay for removal program, a credit repair company will only charge you for every single negative item removed from your credit report. The only downside with this arrangement is that there are cases where the removed item reappears after 2 or 3 months yet you had already paid for it. This might happen because of a number of reasons. You therefore, need to ask your credit repair company beforehand whether they will remove the item that reappears again or whether they will refund the money you had earlier paid. As regards the monthly payment program, it’s instrumental that you ask upfront how many months it will take to repair your credit report and the amount of money it will cost. Any credit repair company quoting you for a period longer than six months is without a doubt taking you for a ride.
Before making your decision, it is important that you ask for references from past customers who have had their credit rating restored. This shows you how competent and professional the credit repair company is. In situations where a given credit repair cannot divulge information citing confidentiality, ask for attorney references whom they work with that can vouch and affirm that they are indeed legitimate and up to the task.
Go for a credit repair company that has your best interests at heart. The said company should be committed to restoring your credit score in the earliest time possible and keen on delivering the best possible results.