Top 5 Questions – Hiring A Credit Repair Company

Top 5 Questions – Hiring A Credit Repair Company

by Nikitas Tsoukalis, CEO

Key Credit Repair

Hiring a credit repair company is not something that should be taken lightly. I’ve been following the hashtag #creditrepair on twitter and facebook the last few months and I’m shocked at what I’m seeing. People are “spilling their guts” on different forums online and then a “so-called” credit guru will troll into the chat and tell them to call their cell phone to get some information. These internet trolls are parading around the net and soliciting people to sign up and pay them thousands of dollars with zero credentials. They typically throw out an offer like “GET EVERYTHING DELETED in 24 HOURS” and desperate consumers facing a hardship will fall into this trap. A desperate consumer will beg, borrow and steal to scrape together the money to take advantage of one of these “WISH” offers and when all is said and done they’ve gotten zero help. In many of these cases the “guru” has taken thousands of dollars  up-front and then disapears. This can all be avoided by asking a few simple questions when shopping for credit repair services. Let me outline for you…

p.s. I have more great questions you can ask. This is just a snippet of my top 5:)

Do you charge your fee(s) up-front? 

If the company charged a one-time flat fee up front you are in trouble. That company is in violation of the Credit Repair Organizations Act. Regardless of what state they are operating in they cannot charge a fee up-front. In fact, this goes against any common sense strategy. If you hire someone to build you a house, are you pre-paying for that entire house before they break ground? No way. You will be paying as the work is being completed in phases. Common sense here my friends!!!

How many items are you working on at once? 

If the answer is 5 items each month or one bureau at a time or quite simply anything less than UNLIMITED you are getting taken for a ride. Sorry my friends. You are a consumer. If there is something questionable on your credit you have the right to challenge that record TODAY. Not tomorrow or three months from now. If the credit repair company you are working with has told you they limit the # of accounts they work on than they are not a credit repair company. They are operating a “Gym Membership” system. You pay each month(in most cases a price that is inexpensive enough that you forget you are paying) and you find yourself in a credit repair program for years and years sending out a few letters each month. Sort of like a gym membership. Nobody is losing weight. But thousands of people paying. You need your credit repaired, correct? Make sure the service is unlimited!

How can I track my progress? 

A reputable credit repair company will give you FULL access to the work they are doing. They will give you a secure online portal that will allow you to track your progress online. Simple? Well not always. If a company is not up to speed with this they may not be up to speed with the security of your personal information as well. Run, don’t walk!

Who owns your company? 

Strange question but I’m old-fashioned when it comes to my money. I want to know when I hire anyone for anything that the owner is in the trenches with their employees and working on my behalf. When a company hides behind fancy marketing ads I won’t do business with them. I want to see that someone is willing to put their “NAME” on the line for me. I want to see their resume and their credentials. Remember, we are not doing business with software and websites. Those are simply tools for convenience. There is always someone behind the scenes and if they are not willing to show their face than they are not getting my hard earned money.

Will you let me enroll before a consultation? 

This is my favorite trick question. So, you find a really cool “Credit Repair Site”. It’s got a catchy slogan and fancy images and their is even a place that you can sign up online RIGHT THERE!! Holy moly this easy. STOP! Stop right there. Easy does not = Better or even good with credit repair. Here in the 21st century your credit is the most important financial tool. I would advocate to say it’s more important than your income or even the cash you have in your pocket. With that said you should never just sign up online. If you want to win in life you need a strategy. Whether it’s a diet, fitness or financial goals, planning is always step #1. If someone is not willing to spend 30 minutes on the phone with you to come up with a game plan to get your credit back up and above par than you have nothing but a….. “A goal without a plan is just a wish”. – Antoine de Saint-Exupry 

If someone is not willing to spend 30 minutes on the phone with you to come up with a game plan to get your credit back up and above par than you have nothing but a….. “A goal without a plan is just a wish”. – Antoine de Saint-Exupry If you are going to shop around for a credit repair service ask these top 5 questions. Also, make sure you get 3 action plans.

Compare the action plans, and always make sure that the action plan is not generic. It needs to be custom and based on a 3-in-1 credit report. The action plan should detail how they will clean up negative records, build-up positive activity and how to deal with bad debts(CLEAN-UP, BUILD-UP & PAY-UP). Also, there should be a goal-setting session where the consultant has asked you “what are your goals with better credit?”. The consultant should be knowledgable enough to align the plan with the the difference between where your scores are today and where they need to be. If you have a median credit score of 540 and you need a 640 to buy a house than the consultant will need to clearly define how you will get those 100+ points. If they cannot do that you are wasting your time and money. Need help repairing your credit? Ready to ask all the right questions? Call our team at 877.842.5215. Nikitas Tsoukalis, CEO/Owner/Consultant/DAD