Best Credit Repair Company: Who is the Leader In Credit Repair?

Taking their cue from Lexington Law, there are literally dozens of upstart credit repair companies who tout themselves as the 'leaders in credit repair'. When combined with all the other companies, some established some not, who claim that they are the #1 credit repair company, it becomes difficult to determine who has a reasonable claim to the title and who can be trusted with your credit.

Unlike some other industries, it is difficult to truly determine which credit repair company is best. When shopping for a car, you have the luxury of referencing Consumer Reports, Car & Driver, and a number of other publications where experts have tested each vehicle against a standard and objectively determined which is best in each class.

With credit repair, there are no independent third parties and even if there were, there is no definitive way to compare the services of credit repair companies to one another. Every credit report is different and every person's credit situation is unique so you can't compare one person's results to another's. And because of the nature of credit repair, one person can't test two or more service at the same time so it is impossible for them to compare multiple companies.

So unlike the auto industry where when a company claims their car is "best in class" and has a reputable third party endorsement to back their claim, a credit repair company who makes the same type of claim cannot use the same justification. So in the absence of an objective determination of which company is truly best, every company has free reign to make the claim. Even credit repair companies whose operations are blatantly illegal according to the laws governing the industry will brazenly headline their websites with claims of #1 credit repair company in America.

When everyone makes the same claim, the claim becomes meaningless. Obviously, not everyone can be the very best.

People, however, still have a need for credit repair services and it is in their best interest to determine which credit repair companies truly are the leaders in the industry. To help make this determination, it becomes necessary to ignore the individual company claims and to focus on the objective facts. Just like a car review will compare horsepower, acceleration, and handling, there are comparable facts in the credit repair industry such as years of experience, number of employees, legal standing, past results, and services offered.

Unfortunately, there are no unbiased resources you can rely on to gather this information about each company, so you will have to do some research on your own. Visit the websites of each company you are considering and see what you can find out after you cut through unverifiable claims (ie best credit repair company, most effective service, fastest results, testimonials that can be faked). See how long they have been in business. Find their address and use resources such as Google Maps to determine if they have a real location or if the address is merely a mailbox. Learn the basics of the Credit Repair Organization Act so you know to look out for companies who do things like require you to pay for services up front, which is illegal according to the Act.

Finally, call each company and make sure they help you determine if credit repair is right for you (it isn't always), let you know exactly how the service works, and answer any questions you have. Trust your instincts and be wary of anything that sounds too good to be true. Credit repair can be a lengthy process and there is no guarantee that it will work for you. There are no secret loopholes or insider fast tracks. As the FTC points out, there is absolutely nothing a credit repair company can do for you that you cannot legally do yourself. The only advantage credit repair companies have is experience and knowledge.

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