How much does credit repair cost?
Unlike some other leading credit repair companies, we don't have different levels of services "based on your needs". Creating these different "levels of service" makes a consumer think that anything less than the services provided under the highest level of service are an option. At ScoreSaver, we don't think so. We know what your needs are...to get the best possible score in the shortest amount of time, period. Some of our competitores charge "extra" for what we consider is a basic and necessary part of the credit repair process, such as interventions with creditors, analyzing your credit score, and handling unlimited disputes. At ScoreSaver, we charge a comprehensive set-up fee of $199 for an individual or $299 for a couple. This set-up fee includes, but is not limited to,
1) auditing of client's credit report,
2) developing strategy, in conjunction with all applicable state and federal laws, to dispute any inaccurate, unverifiable or obsolete entries,
3) creation of client online portal, allowing customer 24/7 access to dispute status, reminders and more.
After set-up fee, individuals pay only $99 per month and couples pay $159 per month until credit has been satisfactorily repaired or you cancel the service agreement, whichever comes first. Please see service agreement contract for more details.
How does ScoreSaver legally help repair bad credit?
ScoreSaver disputes the inaccurate, untimely, misleading, biased, incomplete or unverifiable negative items that you identify to us in your credit reports. We dispute these negative entries with the credit bureaus, collection agencies and/or original creditors. Our multistage process uses the power of federal laws such as the Fair Credit Reporting Act, Fair Credit Billing Act, Truth in Lending Act, Fair Debt Collection Practices Act among others to craft targeted disputes in an effort to remove negative information from your credit reports. During the set-up process, we audit your reports and analyze each negative item and evaluate the impact such items are having on your score. We then develop a case-by-case strategy for how to address and dispute each negative entry. We then employ strategic tactics designed to induce an investigation.
Once the investigation has been executed, a new copy of your credit report will be sent to your home address and will feature any deletions or improvements that resulted from the investigation conducted. If the investigation did not yield the results both you and ScoreSaver deem satisfactory, we will begin the cycle again and continue until we achieve our targeted results.
In applicable circumstances, at no extra cost to you, we escalate the dispute process and employ additional strategies and demands in order to achieve the results we deem acceptable. In order to keep a disputed item on your report, the credit bureau and/or furnisher of the negative information must be able to prove the information is accurate, timely and verifiable and must do so within a 30-45 day time period. This sometimes places an immense burden on the credit bureau or data furnisher that they simply can't comply with. The bureau or data furnisher may not have the documention or information necessary to verify the entry or they may simply not have the resources, time or manpower necessary to conduct the verification process necessary within the alloted amount of time. In these cases, federal law has stated the negative entry must be removed from your report. However, it is important to advise that if and when the bureau and/or data furnisher finds the necessary evidence to verify the negative entry, they may verify it at a later time and cause the listing to reappear on your report. However, federal law makes it more difficult to reinsert negative items. The creditor can not do this without first going through a series of steps, the first of which is to notify you that the negative listing will be reinserted on your report. For this reason, it is critical to initiate a proper dispute from the beginning so as to prevent reinsertions from occurring. At ScoreSaver, our experience and knowledge is what enables us to create the appropriately crafted dispute at the onset of the dispute process. In the event a negative item is reinserted, ScoreSaver will redispute the entry if there are legitimate grounds to do so.
Is there anything that ScoreSaver can't help me with?
Credit repair can make a major difference in your financial life. In addition to the significant financial benefits that come from having great credit there are many psychological benefits as well. But credit repair cannot do everything! Credit repair is not a solution for someone that cannot pay their bills. Credit repair is not an alternative to consumer credit counseling or bankruptcy. If you are unable to keep up with your current bills you should explore all of your options including speaking with a bankruptcy attorney. Lastly, credit repair is not about removing legitimate derogatory information from your credit report. If your credit report provides an accurate representation of your credit there is nothing that should be disputed. In fact, in some cases, disputing accurate accounts can trigger unwanted results. So it is important to examine the issues on your report with a critical but realistic eye.
Where does a credit report come from?
There are three major credit bureaus: Equifax, Trans Union, and Experian. Together, these three Credit Bureaus compile and maintain credit files on nearly 90 percent of adults in the United States. A common public misperception is that these bureaus are government agencies or extensions of the federal government, while, in fact, they are private, for-profit companies that gather information about your credit history and sell it to businesses that are legally permitted to see your report. The businesses allowed to request your credit report include creditors such as banks and credit unions, credit card companies, mortgage lenders, and retail stores, in addition to employers, landlords, and insurance companies
Should I pay off my credit cards?
As a consumer it is always in your best interest to pay off any balances that you owe. When disputing items and accounts on your credit report, it is always easier to pursue deletions when accounts have been paid off (zero balance). It is advantageous to pay your accounts off because it facilitates the dispute process and further collection activities are ceased. As a collection tactic, creditors prefer to invest their time and efforts in verifying negative information that still has a balance due.
What is the Fair Credit Reporting Act?
The Fair Credit Reporting Act is the law put in place to protect consumers and regulate the consumer reporting agencies (CRAs). Commonly known as the FCRA, it was put in place to provide guidelines for the Credit Bureaus to make sure there is consistency between them, to make sure that accurate information is being reported, and to protect consumers from inaccurate information. It is also in place to ensure that credit bureaus and resellers of consumer reports provide information to creditors, insurers, employers, and others, do so with due regard for the confidentiality, accuracy, and legitimate use of such data. When those parties take adverse action on the basis of information in a credit report, they must identify the CRA that provided the report so that the consumer can learn how to get a copy to verify or contest its accuracy and completeness. Creditors and others may not knowingly provide false information to CRAs, which are required to maintain reasonable procedures to ensure the maximum possible accuracy of their data.
The FCRA also states that you are entitled to a free copy of your credit report if you've been denied credit, insurance or employment and request the report within 60 days of notice, or if you can prove:
1.You are unemployed and plan to look for a job within 60 days.
2.You are on welfare.
3.Your report is inaccurate because of fraud.