Credit repair is crucial to your financial life. Your credit score affects almost every part of your life, from renting an apartment to buying a home and getting a job. If you have credit challenges, hiring a firm to repair your credit is one of the best ways to remove blemishes and black marks and enjoy a stellar score. The Credit People have been consistently reviewed as one of the best credit repair firms on the market, and they have helped many consumers get back on track and enjoy a high credit score.
The Credit Repair Process
When you hire The Credit People, they conduct an in-depth intake interview to understand your needs and challenges. They will review your credit reports, income and complete financial profile to determine the right course of action to repair your credit. They will also create a detailed plan of what your financial picture will look like after they have performed their credit repair services. By the end of your first meeting, you will have a good idea of what to expect from your credit repair company.
What They Do
After a thorough review of your credit report, the pros at The Credit People will develop a plan to clear up your credit. The majority of credit reports contain inaccurate or outdated information. The first thing they will do is dispute these inaccuracies that could be dragging down your score. Your credit score may contain discharged bankruptcies that should be removed from your score. Foreclosures, repossessions, and charge offs all “fall off” of your credit report after a certain amount of time has elapsed, so the first thing The Credit People will do is make sure that these items are removed. Many people see an immediate jump in their credit score just with this one step.
Getting a Handle on Debt Collectors
Dealing with debt collectors is stressful. They can be demanding, calling frequently and sending threatening letters to your home or workplace. Many of the tactics they use are illegal, but most consumers are not aware of their rights when dealing with creditor harassment. When you work with The Credit People, they can send letters to your creditors asking them to cease and desist in pursuing you.
Adding New Credit
In addition to removing old derogatory marks from your credit report, The Credit People can also help you to set up new accounts that will increase your score. Before doing this, your credit repair specialist with work with you to ensure that you are able to manage the new credit accounts so they can help, instead of hinder your financial goals. They can recommend secured loans and credit cards, adding yourself as an authorized user to a stronger account and transferring balances between cards. These are all strategies that can result in an instant boost if you understand how to use them strategically.
Getting into a financial downfall often happens over time. There are many factors that may contribute to financial problems, from job loss to illness and unexpected emergencies. Credit counseling can help you to determine which factors brought you to this point in the first place and figure out what action steps to take to get you back on track. The Credit People work with a network of credit counseling programs and can recommend one that will be right for you.
How Long Does Credit Repair Take?
Rebuilding your credit score won’t happen overnight. Time is a factor that works in your favor when it comes to raising your score. The more time you have to work on your credit, the better it will be. When your credit repair specialist disputes an item on your report, the credit bureaus have 30 days to investigate the claim and make a determination. After 30 days, they will either delete, update or make no change to the information. If you are disputing multiple items, this process could take months. In most cases, you will start to see improvement within three to six months of starting your credit repair process. After a year of starting credit repair, you will often see drastic changes in your score.
Why can’t I do it myself?
A lot of people try to repair their credit themselves and end up doing more damage to their score. First, you will need to know the scoring rubrics and how the credit bureaus score your data. There is an entire science to this, and knowing it is crucial to getting positive results. In some cases, some creditors report their data on a certain day of the month, and making your payment right before this deadline can often help increase your score and your on-time payment history. This is information that your credit repair specialist will know and use to your advantage.
Disputing information on your credit report requires insider information about scoring as well. If you dispute an account that is accurate, it can actually hurt your score. In addition, paying off an old account can bring your score down as well. Your credit repair specialist understands these factors and can work strategically to clean up your score.
Many people open up several new accounts in an attempt to boost their score. This can be a mistake if not done correctly. When it comes to clearing up your credit, it helps to allow the professionals to use their insider knowledge to raise your credit score.
Finally, credit repair takes time. You have to watch your reports, understand the scoring system, write letters, respond to requests for more information and follow up. It can take hours each week to perform your own credit repair.
Bankruptcy vs. Credit Repair
Bankruptcy can give you a fresh start financially and allow you to rebuild your credit quickly. Some people wonder whether they should get a bankruptcy or try for credit repair. Bankruptcy can have a huge impact on your credit score and often stays on your report for up to 10 years. Sometimes a financial challenge that seems overwhelming can be easily solved through credit repair. Credit repair professionals see all types of situations and can get your credit back on track without bankruptcy.
Watch Out for Credit Repair Scams
There are a lot of people out there who take one class online and call themselves “credit repair specialists.” These companies make huge promises about being able to clean up your credit in days. They may promise you a certain credit score or tell you that they can erase all of your debts. It pays to hire a reputable company to perform your credit repair, so you can be assured you will get the best results.
The Credit People
The Credit People have consistently been rated the best credit repair company on the Web by consumers and industry experts. One of the things that make them stand out is their money-back guarantee. The Credit People guarantee that you will see an increase in your credit score in 60 days or you get your money back.
In business for more than 15 years, The Credit People offer some of the best rates in the industry among reputable credit repair companies. They also have attractive payment plans that allow you to pay monthly. Customers also have the option of paying the fees upfront for a significant discount.
The Pros and Cons of The Credit People
Pro: A no-risk option
Many people have no idea of what to expect from a credit repair agency, so The Credit People’s 7-day $19 trial is an excellent perk that makes it attractive to new consumers. Because credit repair takes time, consumers are not likely to see any change in their score during the trial period. What they do get, however, is the chance to ask questions, consult with their credit repair specialist and get a good idea of what to expect. This will also allow you to review your credit profile and get a general idea of what The Credit People will do to raise your score.
Pro: Affordable Rates
At $79 a month, The Credit People offer some of the lowest rates in the industry. They also offer the lowest upfront payment in the industry, at just $419. With this pricing, there are no surprise fees. Other firms charge to pull credit reports and additional fees for credit monitoring. With The Credit People, all of the fees are rolled into the $79 monthly fee or the flat fee.
They also offer discounts for couples, so you and your spouse can take advantage of credit repair services at a lower rate than going it alone.
Pro: Customer Service and Online Access
The Credit People have built an interactive dashboard that allows their consumers to see their progress during the credit repair process. In this dashboard, you can see your score history, utilization, and potential score boosters. Find out the effects that opening new credit will have or learn exactly which days to pay your bill for the highest score. The online dashboard displays your score, payment history, utilization, and available credit so that you know exactly where you stand. The Credit People offer 24-hour online access to your account and live customer service that is available during normal business hours.
Pro: Money Back Guarantee
With The Credit People, you get a 60-day money-back guarantee if you are not happy with the service. While it takes longer than 60 days to start seeing results when it comes to credit repair, 60 days is long enough to see what the company will do. During this time they will have started to dispute incorrect information, clean up old accounts and start making new credit suggestions. With the money-back guarantee, you will receive the cost of your current month’s fee and the cost of the upcoming fee. This makes it easy to try out the service without a major commitment.
Con: No Dedicated Credit Repair Specialist
The Credit People is a large company with a team of financial specialists who will help you with your credit repair plan. This means that anyone of the team members may be instrumental in helping you when you call. You are not guaranteed to get the same person each time. This means you may have to explain certain elements over and over again. As credit and financial information are highly sensitive, some consumers may feel uncomfortable having to discuss their financial situation with different people.
What the Firm Can Do:
Understanding The Credit People’s online reviews requires a thorough understanding of what they can and cannot do for their consumers. The firm received a few bad reviews from people who did not receive results immediately. They also received negative feedback from people who didn’t understand the limitations of credit repair firms. The Credit People can:
- Dispute debts that are inaccurate
- Dispute debts that are past their expiration and the consumer is no longer obligated to pay
- Dispute debts or inquiries that don’t belong to the consumer
- Dispute accurate information
- Guarantee a particular score
- Guarantee that they can remove debts that are bankruptcy-proof, like student loans or other federal debts
Who are The Credit People?
The Credit People is a small company based in Utah, United States. They have been in business for 15 years. They have a team of finance experts who can assist you in all areas of credit repair and personal finance. In addition, they have a network of financial planners who can help you in planning other parts of your financial life.
Since they have been in business for 15 years, they earn more credibility than the fly-by-night “credit repair” companies that crop up and disappear months later. They have helped more than 100,000 people repair their credit over the years, and have a reputation for quality and results.
Their credit repair team is made up of debt repair specialists who are trained in the laws regarding debt collection and credit repair. They know the ins and outs of the Fair Credit Reporting Act, Accurate Credit Transactions Act, and the Fair Debt Collections Practices Act. They are the best in the industry when it comes to assisting you with your creditors.
The Scoring Team knows everything about how the major credit bureaus work and will analyze every part of your credit report to raise your score. They have an in-depth working knowledge of debt to income ratio, scoring models and credit utilization models. With their training, they can make the right decisions to help to boost your score quickly. They can also share with you strategies to keep your score high after your repair work is complete.
The Credit People also have a sales, marketing, tech and support team to make their credit repair services run smoothly.
What The Credit People Does Different
We like The Credit People’s “Score Driven Results” model. In addition to removing negative items from your credit, they focus on taking other actions to raise your score. They help with personal finance counseling, new credit recommendations, and credit counseling. Other credit repair agencies simply dispute negative information, which is helpful but only a piece of the larger credit score puzzle.
In addition, The Credit People help with life-related credit issues like getting a credit reference to rent an apartment, negotiating a lower interest rate for your next car purchase or finding the right home lender who works with people in your score range. They can also help with employer assistance, a valuable service for those seeking new employment.
Our Final Take on The Credit People
Overall, The Credit People have a solid reputation and stand by their work. They offer a money-back guarantee and you can cancel at any time, which makes them low risk. They also perform a wider range of services than other credit repair companies. They help with rental applications, job applications and credit references, which we love. They also assist with credit and financial counseling, which is great for people who have gotten into trouble with money management in the past.
We also like that they don’t make huge promises that are unrealistic. They don’t promise to be able to repair your credit overnight or erase your bankruptcies and obliterate your student loans. What they do offer is a steady and proven system for getting your credit back on track so that you can enjoy a high score over time. Unlike some companies that use sneaky tactics that don’t work long-term, The Credit People use sustainable practices to raise your score quickly and keep it high.
We highly recommend The Credit People for anyone who has struggled to raise their credit score on their own. Raising your credit score is about more than just paying off a few bills. It requires the knowledge and insider information that only the professionals can offer. We like that they have dedicated teams that are there simply to specialize in one area of your credit. If you’re looking for the right company to raise your score and help you to boost your financial profile, The Credit People are the best of the best.