Why You Deserve A Better Credit Score
One in five Washington, DC area consumers has inaccurate negative items on their credit report, which lowers credit scores and increases borrowing costs. We researched the best credit repair companies in the Washington, DC Metropolitan to help consumers dispute erroneous charges and restore positive credit.
Washington, DC area consumers who want to open a new credit card or are in the process of buying a home or car, benefit from credit repair services. The average credit score in Washington, DC is 680. Nationally, the average is 680. Any score above 720 is considered excellent. The Washington metro area ranks in the top 10 for cities with perfect credit score averages0 of 850. Only 1.94 percent of Washington, DC area consumers have a perfect score of 850, according to Experian.
Removing inaccurate information or unauthorized activity from your credit report can take up to 45 days, but because credit bureaus must respond to disputes within 30 days, most disputes are resolved in the same timeframe.
Credit repair companies cannot require payment until services have been fully rendered thanks to the Credit Repair Organizations Act. Though companies collect billing information prior to beginning service, most will not charge a card until the company is able to successfully remove inaccurate information or unauthorized activity. Many credit repair companies charge a one-time setup fee, which typically ranges between $75 and $200 before monthly payments begin.
Hiring a credit repair service in Washington, DC is not necessary to remove inaccurate information from your report. The process is similar to taking your car to the dealership for service instead of doing an oil change yourself.
However, credit repair experts have the tools and knowledge to remove inaccurate information, saving you time and hassle. Because credit repair is a sensitive topic, this kind of customized service is invaluable. Some credit repair companies provide their clients with personal advisers or personalized technology while others employ a team of representatives to assist you.
With the help of a credit repair service in Washington, DC, you will discuss credit restoration strategies and may be able to improve your credit score.
Credit repair companies claiming they can remove bankruptcies and liens or legally create a new credit identity are scams. A credit repair company is fraudulent if they:
- Asks you not to directly contact credit reporting companies (Experian, TransUnion and Equifax)
- Tells you to give false information on applications for loans or credit cards
- Requests that you dispute information on your credit report that you know is accurate
The Federal Trade Commission created a list of helpful tips to spot credit repair scams as well as a list of your credit rights.