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The state of Florida has recently experienced an improvement in the average credit score of its residents. However, at 701, it remains 13 points below the national average of 2021. For Floridians looking to boost their credit scores, there are several strategies available, including credit repair.
My guide to the top credit repair services in Florida is an excellent resource for anyone in the Sunshine State looking to enhance their credit report. Each of these services can identify and correct errors, omissions, and items that cannot be verified.
Continue reading to find the credit repair service that best suits your needs and budget.
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6 Best Credit Repair Companies FL
- CreditRepair.com – Best FL Credit Repair Company Overall
- Lexington Law – Best for Transparency
- Credit Saint – Best Simple Credit Repair Options
- The Credit People – Most Aggressive Timeline
- Sky Blue – Best for a One-Service, Budget Option
- The Credit Pros – Best for Bonus Features
CreditRepair.com is an online credit repair company based in Utah that also operates in Florida. It offers customers real-time updates on each credit dispute and regular updates on their credit scores from at least one credit bureau.
With a decade of experience, CreditRepair.com has successfully removed millions of negative items from clients’ credit reports.
Lexington Law employs a legal approach to ensure fair and accurate credit reporting through its attorney-led credit repair processes. By harnessing relevant legal standards, the firm aggressively defends consumer rights and seeks to enhance its clients’ credit scores.
It identifies and disputes inaccuracies that unjustly affect credit reports and undertakes legal challenges against credit bureaus and creditors to remove negative entries, leading to more accurate credit scores.
Since its inception in 2004, Lexington Law, under the guidance of directing attorney John Heath, has removed over 77 million items and provides personalized coaching for effective credit management.
Credit Saint, a credit restoration company based in New Jersey and servicing areas including Miami, has committed over 15 years to educating clients about credit. Recognizing that credit damage involves more than just negative scores, Credit Saint helps improve credit ratings by addressing and challenging inaccurate, incomplete, or unverifiable information on credit reports.
The Credit People sets itself apart by offering clear, aggressive timelines for showing customer results, often within just 60 days of service commencement. They provide initial credit scores and reports immediately upon signup, allowing clients to track their credit repair progress from the start.
Sky Blue Credit Repair®, located in Boca Raton, Florida, is known for its understanding of the local credit challenges. It commits to disputing a fixed number of items each month, which may lengthen the credit repair process depending on the volume of disputes necessary.
Sky Blue also offers flexible service options, allowing clients to pause, cancel, or restart their service at any time, aligning with their financial needs.
The Credit Pros, based in West Palm Beach, offers three distinct pricing packages, allowing clients to tailor their credit repair expenses. Founded by credit law experts, the company enables clients to book a free, no-obligation consultation.
Once enrolled, The Credit Pros handle all dispute paperwork with credit bureaus and provide real-time updates on disputes, debt validations, and communications with creditors and collection agencies.
Florida Credit Repair Companies – Buyer’s Guide
What Is Credit Repair?
Credit repair seeks to enhance your low credit scores by eliminating questionable negative items from your credit reports. These items can include unverified hard credit inquiries and incorrect reports of late payments, defaults, collections, and bankruptcies.
Negative credit information can impact your ability to secure a new job, rent an apartment, or obtain a mortgage, among other financial opportunities. Removing erroneous information can quickly elevate your credit score, often more swiftly than demonstrating creditworthy behavior alone.
How Much Does Credit Repair Cost?
Credit repair services typically charge a monthly fee ranging from $50 to $150. The duration of the service will affect the total cost; shorter repair processes mean fewer monthly payments. Many companies also require a one-time setup fee before they begin working on your case.
Although the cost might appear steep, it’s generally much less than the additional expenses incurred from higher interest rates or fees due to a depressed credit score caused by inaccuracies on your report.
More comprehensive packages may include extra services like FICO score updates, credit counseling, and identity theft protection. These packages often come with credit monitoring and educational resources to aid in rebuilding your credit.
How Do I Obtain Credit Repair Services?
Credit repair companies provide assistance with correcting your credit reports if you’re unable or prefer not to tackle the task yourself. Most companies start with a free consultation to determine how they can assist you.
Typically, you would sign up for a monthly subscription service with a credit repair company. These subscriptions usually last about four to six months but can be extended or canceled at any time. The cost varies based on the level of service you choose.
When comparing credit repair services, consider each company’s fees, including any setup charges. Assess what is included in each service tier and what may incur additional costs. Standard services include:
- Reviewing your credit reports
- Initiating disputes with credit bureaus and creditors
- Monitoring disputed items until they’re resolved
- Educating clients on maintaining good credit management
Credit repair agencies work to resolve various issues such as inaccuracies, outdated information, unverifiable data, and fraud. They will outline an action plan and timeline for disputing items on your credit reports.
Choose the company and service level that best fits your needs, considering whether you require the additional features that come with more expensive packages.
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What State Regulations Govern Credit Repair in Florida?
All credit repair firms in the US must adhere to federal regulations. The Credit Repair Organizations Act (CROA) safeguards consumers against unfair practices in the credit repair industry, such as false claims, charging for undelivered services, and misleading cost advertisements. Under CROA, credit repair agencies are required to provide consumers with a written contract for services and must perform these services before charging.
Furthermore, the Fair Credit Reporting Act (FCRA) grants you the right to access your credit report, dispute inaccuracies, and receive free annual reports. The FCRA also stipulates conditions under which your credit report can be accessed, how long information can remain on your report, and how employers and businesses can use this information. The Federal Trade Commission enforces both the FCRA and CROA.
In Florida, additional protections are enforced by the Florida Department of State and the Attorney General under the Florida Credit Service Organizations Act (FCSOA). This includes prohibitions against:
- Charging for services before they’re fully delivered unless the company has a surety bond and places the fees in a trust account until services are completed
- Charging for publicly available credit account referrals
- Making false or misleading statements to credit bureaus or creditors
- Engaging in fraudulent or deceptive practices
The Florida statute also mandates:
- Surety Bonds: Credit repair companies must secure a third-party bond to cover potential damages, with a bond amount typically being $10,000
- Licenses and Permits: While the state does not require a specific credit repair license, local jurisdictions might require business licenses or permits
- Contract Requirements and Disclosures: Companies must comply with detailed requirements outlined in Section 817.704
- Cancellations and Refunds: Customers have five business days to cancel contracts with a full refund issued within ten days of cancellation
Additionally, under Section 817.703, Florida law requires credit repair services to provide a detailed information statement that includes:
- The customer’s rights to review their credit files
- The right to access credit files for free within 30 days following a credit denial (and the cost if applicable)
- Rights to dispute incorrect information in their credit reports
- The limitation is that accurate, non-expired information cannot be permanently removed from credit reports
- A detailed description of the services and costs offered by the credit repair organization
- The ability to claim against the company’s surety bond or trust account
Additionally, Section 817.703 of state law mandates that credit repair services provide customers with an information statement detailing the following:
- A detailed description of the consumer’s rights to inspect their credit bureau files
- The entitlement to access credit bureau files at no cost within 30 days following a denial of credit
- The fee that the credit bureau may charge if the request for files is not associated with a credit denial
- A clear and thorough declaration of the consumer’s rights to contest inaccuracies on their credit reports
- Confirmation that major credit bureaus are unable to permanently remove accurate, non-expired information from their reports
- An exhaustive description, including the costs, of the services a credit repair organization will provide
- Information that consumers have the right to pursue claims against the credit repair company’s surety bond or trust account
The document must also include the name, address, and account number of the trust account depository or the surety bond issuer. Credit repair organizations are required to retain a precise copy of each issued statement, personally signed by the consumer acknowledging receipt, for a period of five years.
>> Fast Credit Repair Service in Florida: CreditRepair.com >>
Florida Credit Repair Companies – FAQs
Final Thoughts
With a multitude of credit repair companies available, selecting the right one can be daunting. Ensure that any company you consider offers a free credit consultation and report analysis.
The companies highlighted in this discussion all operate in Florida and are worth considering if you’re struggling with credit issues. Whether your credit report contains numerous errors or just a few detrimental items, engaging a credit restoration specialist can be a beneficial strategy.
