When applying for credit, a bad credit score can lead to high borrowing costs and frustration. Credit repair companies help customers remedy inaccurate statements on credit reports and devise a plan of action to raise their credit scores. ConsumerAffairs researched the best credit repair companies in Nashville to help you compare options.
The average credit score in Nashville is 668, not far below the national average score of 687. For consumers with lower credit scores looking to open a new credit card, apply for a loan or purchase a house, a credit repair service can be of great use.
Credit repair companies in Nashville will pair you with a financial professional, helping you:
Examine your credit history and score
Monitor your credit score and profile
Provide resources to map out a successful financial plan
Negotiate with lenders on your behalf
Fix errors on your credit reports
Most credit repair services in Nashville start the process with a free consultation. During this phone call or face-to-face meeting, the company will review your financial goals to ensure their services are a good fit for your situation. Next, after you provide your credit information to the company, they will comb through reports, searching for errors or ways to improve your score.
Depending on the state of your credit report, it can take anywhere from one to six months to see any significant changes to your credit score. Credit repair companies in Nashville must communicate with lenders as well as the credit bureaus when advocating on your behalf, and this takes time. Because the credit repair process is not immediate or even guaranteed, it is best to have backup plans for improving your credit, especially if you have a big purchase on the horizon.
Credit repair companies in Nashville often charge a setup fee along with monthly fees throughout the process. These fees should be discussed during your consultation. If fees are not mentioned, consider this a red flag.
According to the Consumer Credit Protection Act, credit repair companies are prohibited from offering or advertising misleading services. The Federal Trade Commission advises consumers to avoid companies that require a large advance payment. In addition, ask for a written contract that provides cancellation rights. The FTC also states a credit repair scam can be identified by the following:
The company tells you not to contact credit bureaus directly.
The service asks you to dispute information which is accurate.
The advisor recommends you lie on loan or credit applications.
The service does not explain your legal rights throughout the process.
Depending on the company you choose for your credit repair services, you will either work with a representative known as a credit advisor or a team of individuals. You can also enlist the services of a credit lawyer to repair your credit score. Consider the trusted companies below to work with a credit repair service in Nashville.
Credit Saint offers a 90-day, money-back guarantee if you are unsatisfied with their service. The company assigns a team of specialists to work on individual customer cases, rather than a single professional. Consumer reviews cite great customer service, on-time communication and positive experiences.
Lexington Law has been helping customers repair their credit score since 1991. The company has several online resources for customers interested in learning more about credit repair. Online customer reviews range from excellent experiences with advisors to accounts of poor communication with credit bureaus on behalf of the client.
According to customers, The Credit People does what they claim to do, improving credit scores for their 100,000 customers. They offer an Unbeatable Satisfaction Guarantee which allows customers to cancel at any time, refunding the previous month. Though some customers had trouble getting in touch with representatives, most were happy with the service and their results.
CreditRepair.com provides customers with a mobile app and online tools to monitor their credit progress and score. Online reviews by Nashville customers mention ongoing fees long after you attempt to cancel, as well as long waiting periods between communications from the company.
Sky Blue Credit Repair states they dispute 15 items (five items per bureau) every 35 days to provide customers with the quickest solutions. Online customer reviews back up this claim with positive sentiments, citing superb customer service, honest advisors and a thorough credit analysis.
The Credit Pros offers customers an online credit monitoring dashboard along with free credit tools and resources. These services are also available as part of a mobile app. Customer reviews online are mixed, citing both positive and negative experiences regarding customer service and overall cost.