How Much Will Credit Repair Cost?
Each client report is different as is every budget. Our credit advisors will audit the report and give each client an estimated cost. Our fees are $65 for collections, charge-offs, and repossessions. Bankruptcies, foreclosures and short sales are $120. Once items are removed from the report there is a one time $95 administrative fee. Remember, you do not pay a fee unless we are successful in removing items from the report. The last fee our clients will incur is the cost of credit monitoring which is a key factor in the success of the repair. Credit monitoring is $1 the same day a report is pulled and less than $20 a month. Our goal is quick affordable credit repair and we will work with anyone’s budget.
The Law Doesn’t Have to Be Expensive or Complicated
At Credit Law Center, we dispute negative, missing or unverifiable items on your credit report. The Credit Reporting Agencies (TransUnion, Experian, and Equifax) have 30 days to notify you of the status of your disputes and up to 45 days to complete their investigation. Once the investigation is completed, the results will be mailed to you. The CRAs (credit reporting agencies) only have three options when responding; they can delete, verify or update the information.
If They Delete...
If they delete the information or account, fantastic! That is what we are after. Most consumers don’t realize that once a negative item is deleted it has an immediate impact on their score. Credit scores don’t change daily or hourly, a credit score is only generated when it is requested and is calculated based on the information that is on file at that time. For example; on Monday, derogatory information is reported on your credit report. On Tuesday, derogatory information is deleted. When you order a new credit report it is as if the derogatory information was never reported. Your score is based only on the information on file at the time you order your report.
If They Verify...
Once the information is verified it’s usually the end for most credit repair companies, but it’s where the most powerful part of Credit Law Center’s process begins. When the creditor or collector “verifies” the questionable information our attorneys send a debt validation demand. A debt validation demand is a legal document that contains 6-9 questions depending on what type of an account is in question. The creditor or collector typically responds in one of two ways:
First, they see that the account was just disputed the previous month and now they are being contacted by a law firm. They know they can’t verify the account or that they are misreporting it, so they delete the account.
Second, they choose to answer the 6-9 questions. When they answer the debt validation demand our paralegals compare the creditor or collectors answer to the investigation response to the first dispute. When we compare the answer to the investigation results we typically find discrepancies or incomplete information. The incomplete information or discrepancy is usually a violation of the FCRA (Fair Credit Reporting Act) or the FDCPA (Fair Debt Collection Act).
Our firm uses this information as leverage to request a deletion. This is the most common result. If this leverage does not work the file is moved to one of our attorneys which will decide whether to move forward with a lawsuit or further negotiations.
If They Update...
If they update the information this means they were reporting incomplete or inaccurate information. This is not a violation as the creditors or collectors reporting information cannot violate the FCRA unless the account information is disputed. This is very important and why properly disputing and documenting the dispute process is so vital to the credit repair process.
The third and final step after we have challenged the questionable information and the creditor or collector has validated the information, we will negotiate a settlement for deletion. This means you agree to pay the account as long as the creditor or collector is willing to delete the account information from your credit report. Usually, this can be accomplished for less than the full amount of the account balance.