Client education about avoiding scams and giving their personal details over the phone or online is also offered. A repossession will stay on your credit report for up to seven years, which means that all the late payments on a loan or credit card, as well as the repossession, will show up on your credit report. The repossession itself will also lower your credit score, making it harder to get approved for loans and credit cards in the future. Fortunately, you’ll have a chance to undo the credit report damage after a repossession, as the sale of a repossessed asset is often not enough to balance the amount you owe to a lender. In this case, your lender could possibly negotiate a new repayment plan with you so you can pay off the balance and restore your credit. If you’re able to make all your payments on time and keep your account in good standing, the repossession will eventually fall off your credit report.

Services That Help Fix Your Credit Score

Sometimes we are forced into a loan with significantly higher interest rates. Home and Auto refinancing are often able to be obtained after successful completion of our credit repair program. Allowing you to not only obtain lower interest rates but to ultimately substantially lower your debt to income ratio (DTI) in the process.

The Industry Leaders In Credit Repair & Credit Readiness

Ratings (10%) – We ranked each company based on how well they are rated by Better Business Bureau and other independent rating agencies. Sky Blue Credit offers two plan types, both with the option to sign up as an individual or couple. Unlike many competitors, Credit Saint has a decent reputation with its customers and very few complaints with the Consumer Financial Protection Bureau (CFPB). Trustpilot reviewers give it an average of 4.8 out of 5 stars across nearly 500 reviews.

Couples can get a $20 discount for registering together.[9] The Premium Flat Rate plan offers greater value for your money. You’ll end up paying around $99 monthly for premium features compared to the Standard plan. Before engaging in credit repair, we provide free consultation on your credit situation.

Life Wisdom helps Los Angeles residents recover from their financial troubles by combining credit repair services and debt settlement solutions. Since 2004, it has been restoring clients’ credit scores, giving them the chance to get approved for credit cards, auto loans, and home loans. It also creates debt settlement plans to help people rebuild their credits fast.

Consumers have three business days to cancel a contract with a credit repair company without charge. If you check your credit reports and find errors, you have a legal right to dispute them. Under the Fair Credit Reporting Act (FRCA), you can send a dispute letter to the three major credit bureaus about errors in their report(s). You should provide account numbers and other details about the errors you’re trying to have corrected. When you look at the services provided by credit repair companies and the fees they charge, you may find credit repair service s aren’t worth the cost.