Find the Best Credit Repair Companies in Bakersfield, CA

Credit repair in Bakersfield

The average credit score in Bakersfield was 642 in 2017, placing it well below the national average FICO score of 704. If you have bad credit, you may have fewer options when applying for loans or credit cards. Having a high credit score has multiple benefits, including:

• Better chance to qualify for loans: Whether you’re looking for an auto loan or a home mortgage, having a higher credit score increases your chances of qualifying for a loan.
• Increased options when searching for loans: Being more likely to qualify for loans gives you an advantage when seeking one. You’ll be able to compare more offers and use your options to find the best offers.
• Lower interest rates: A higher credit score shows lenders you’re reliable, and you’ll receive lower interest rates on loans and credit cards for being a low-risk borrower.
• No need for a cosigner: While people with lower credit scores may qualify for loans, your lender may require a cosigner to secure your loan. A higher credit score prevents the need for a cosigner and gives you more financial independence.
• Sign up for utilities without security deposits: Because a high credit score shows you can be trusted to pay your bills, service providers such as electric utilities and cellular phone companies are less likely to require a deposit for new service.

Because of the importance of your credit score when applying for loans, Bakersfield residents should look into credit repair months before applying for home mortgages and vehicles loans. While consumers have the right to review and dispute their credit reports, it can be a confusing and time-consuming process. Credit repair companies save customers hassle by doing the work for them.

How much does credit repair cost?

Most credit repair companies in Bakersfield offer a free consultation to determine if credit repair can help improve your score. If you choose to work with a company, you will generally make monthly payments. While federal law prevents credit repair companies from charging an upfront fee, you may be required to pay the cost of requesting your credit report.

Credit repair companies first retrieve your credit report and then dispute incorrect information that negatively impacts your credit score. Some customers in Bakersfield see results in as soon as a month, but typical customers spend six months on credit restoration and see results within a year of beginning credit repair.

After you enroll in services, a credit restoration company might assign a specific representative or team to your case. Some companies provide general customer service. Many credit repair companies in Bakersfield also give clients access to online account tracking.

How to avoid credit repair scams

Credit repair companies must comply with the Credit Repair Organizations Act. Be sure to watch for red flags that a company may be a scam. These warning signs include:

• Large upfront costs
• Guaranteed claims of improvements to your credit score
• Unclear or overly restrictive cancellation policies
• Unsolicited sales calls

Finally, check the Consumer Financial Protection Bureau to find any complaints against a company before signing up.