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Reviews of Business Credit Repair Companies and Consultants

Running a business requires good credit, so it’s crucial to fix any issues that may be dragging your score down. Business credit repair companies can help identify and resolve reporting errors to improve your business credit scores with the major bureaus. But not all credit repair services are created equal. Here’s what to look for when vetting business credit repair companies and consultants.

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How Business Credit Repair Works

Business credit reports are maintained independently from your personal credit by major bureaus like Experian, Equifax, and Dun & Bradstreet. Just like personal credit, mistakes can sneak into business credit reports that unfairly lower your scores.

Credit repair companies act on your behalf to identify and dispute inaccurate or unverifiable information. This may involve goodwill letters to creditors, cease-and-desist letters for collections, and formal disputes with the credit bureaus. The goal is to remove negative items so your reports better reflect your current financial standing.

Reputable credit repair services tailor the process to business credit. They have experience navigating business credit bureaus and collections processes. Business-oriented services may also monitor your reports across major bureaus, not just one or two.

Warning Signs of a Scam

Unfortunately, the credit repair industry does attract its share of scammers hoping to prey on desperate entrepreneurs. Here are some red flags to watch out for:

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  • Charging Upfront Fees – Avoid any company asking for payment before services. Credit repair companies cannot legally charge upfront fees under the Credit Repair Organizations Act.
  • Overpromising Results – No company can guarantee a perfect credit score or the complete removal of accurate negative items. If it sounds too good to be true, it probably is.
  • Lack of Transparency – Legitimate credit repair companies explain their process, services, and fees upfront. Be wary of vague claims or pushy sales tactics.
  • No Customer Service – Communicating with representatives should be easy for customers. Lack of phone support or unresponsive contacts may indicate a scam.
  • No Legal Compliance – Check that companies comply with all relevant laws, such as state licensing requirements and the federal Credit Repair Organizations Act.

Top Services for Business Credit Repair Reviews

Now that you know what to avoid, here are some top-rated services to consider if your business needs credit repair:

Lexington Law

  • Overview: Well-established law firm specializing in personal and business credit repair services.
  • Services: Credit monitoring, score analysis, dispute letters and interventions, FICO score optimizer, cease and desist letters.
  • Cost: $129.95/month with a $99.95 initial fee.
  • Reviews: A+ Better Business Bureau rating with mostly positive customer feedback on effectiveness.

Credit Saint

  • Overview: Long-running personal and business credit repair company.
  • Services: Goodwill interventions, debt validation, creditor disputes, credit score analysis.
  • Cost: $79.99-$119.99/month. Initial work fees of $195-$245.
  • Reviews: A+ Better Business Bureau rating with many positive reviews praising customer service.

The Credit Pros

  • Overview: Business and personal credit repair from former mortgage brokers.
  • Services: $149 initial consultation, customized dispute process, credit monitoring, score tracker.
  • Cost: $119-$149/month.
  • Reviews: A+ Better Business Bureau rating, largely positive reviews mentioning excellent customer service.

Veracity Credit Consultants

  • Overview: Law firm focusing exclusively on business credit improvement.
  • Services: Credit report analysis, dispute letters and interventions, collections mediation, business credit coaching.
  • Cost: Customized quotes. Fees of $1,500-$15,000.
  • Reviews: Perfect BBB rating, positive reviews report excellent results for business credit repair.

CreditRepair.com

  • Overview: One of the largest credit repair companies offering personal and business services.
  • Services: Customized disputes, score analysis, creditor interventions, ongoing credit monitoring.
  • Cost: $69.99-$119.99/month.
  • Reviews: A+ BBB rating, mixed reviews on effectiveness but positive feedback for service.

Is DIY Business Credit Repair a Good Idea?

You can attempt do-it-yourself credit repair using free resources from the Federal Trade Commission and Consumer Financial Protection Bureau. But the process is complex. DIY business credit repair may be frustrating and ineffective without experience navigating commercial credit bureaus.

Professional services save you time and use proven processes to get results. Their expertise with business credit means they identify more issues and have better success disputing them. Depending on your situation, hiring help for business credit repair can be worth the investment.

How to Find the Best Credit Repair Companies

Now that you know what to look for, here are some tips for picking the best business credit repair service:

  • Compare multiple companies. Check services, prices, contracts, and reviews.
  • Look for transparency. Avoid companies that won’t explain their process and fees upfront.
  • Read reviews. Check the Better Business Bureau and independent review sites.
  • Understand your rights. Review the Credit Repair Organizations Act so you know your protections.
  • Check state licensing. Not all states require licensing but it adds legitimacy.
  • Consider credit monitoring. Some companies offer monitoring with repair to catch new issues.
  • Compare expertise. Look for companies experienced with business credit and collections.
  • Be realistic. No company can work miracles or remove accurate information.
  • Get everything in writing. Don’t sign a contract until you understand services, pricing, and policies.

The Bottom Line

Reputable credit repair companies use proven tactics to identify and dispute credit report errors. This can improve your business credit scores, making it easier to secure financing and get better terms. Just be sure to research companies thoroughly to avoid scams. The right business credit repair service can help get your scores back on track.

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