How Much Does 60 Day Credit Repair Cost?
To reach large financial milestones such as purchasing a home, obtaining a loan, or getting a new credit card, it is essential to enhance your credit score and rectify your credit report. Credit repair services claim to assist in enhancing the credit score through the disputing and deletion of unfavorable records in the reports. As for most credit repair services, they take their charges every month, enjoying a minimum of 6 months of service. But let's assume that you are interested in a 60-day credit repair service, how much would it cost in the average market? Let's take a look.
What is Credit Repair?
Credit repair entails analyzing credit reports from various credit bureaus to ensure that they are free from any wrong information or data that is detrimental to the credit score. This may include things like payment increases, collection accounts, bankruptcies, foreclosures, charge-offs, and many others. These issues are disputed by credit repair companies on your behalf and advice on proper financial practices for a good FICO score. The higher the credit score, the better the interest rates one can be eligible for.
Cost Factors
When estimating the cost of a 60-day credit repair, you need to consider a few key factors.
- Enrollment/Initial fees – Many companies require an initial fee to get enrolled with them that may range from $100-$200.
- Mutual monthly fees – It is estimated that the cost of services per month ranges between $60-$100.
- Length of credit history – If you have a long credit history with numerous accounts in dispute, you will be charged more.
- Additional features - Some firms have additional services at an additional cost which include the goodwill intervention letter, cease and desist letters, and credit education.
This is exactly what is covered when one pays for the 60-day credit repair system.
A standard 60-day credit repair package entails writing dispute letters to the major consumer credit reporting agencies namely Equifax, Experian, and TransUnion. These are the companies that work it out and give your credit reports and your FICO scores to the lenders. Credit repair specialists will.
- Get your credit report from each of the bureaus
- Revisit all the history of the accounts
- List possible bad credit items that may be negotiated including; payment delays, bills written off, debts, repossessions, and bankruptcies
- Compose and send the dispute letters to expunge the erroneous entries
- Inform on disputes and alterations to the credit reports.
- Give help on how one can change his or her bad financial behavior.
Extended services may also include goodwill letters requesting creditors to remove the late payments, legal letters to debt collectors demanding them to cease, credit education, and identity theft resolution among others.
Average Cost For 60 Days Credit Repair
Many credit repair firms give the prices in terms of monthly charges, not two monthly packages. But based on average monthly pricing, here is an estimate of how much a basic 60-day credit repair service costs.
- Enrollment fee: $100
- Monthly fee for 2 months: $60 x 2 months = $120
- 60 days expenses = enrollment $100 + monthly fee $120 = $220
If you have a lengthy or complex credit history, additional dispute items cost $20-$50 each. While bundled service packages also can range from $100-$150 in monthly fees. As such, realistic pricing for 660-dayrepair stands from $200 to $400+ at the highest level of the range.
Is Credit Repair Effective and Is It Expensive?
Credit repair can do well if the negative items that are dragging your scores down are wrong or can not be validated. Responsible companies take advantage of the legal means provided by the Fair Credit Reporting Act to request the removal of negative marks. This can help raise credit scores by up to 60 days.
However, credit repair does not allow deleting information that is 100% accurate from the credit history. ALegitimateissues will reemerge after some time without any long-lasting positive change on your profiles. Thus, the possibility of obtaining positive results depends mainly on each subject’s credit history. Although the numbers may improve with the elimination of the bad scores, sustainable and long-term performance is established by developing good habits in the financial aspect.
Ready to boost your credit score? Call +1 888-804-0104 now for the best credit repair services near you! Our expert team is here to help you achieve financial freedom and improve your credit. Don't wait—get started today!