Find the Best Credit Repair Companies in Indianapolis, IN

Credit repair in Indianapolis

According to a 2017 study by Experian, Indiana residents have an average score of 667, which is lower than the national average of 675. If you’re unsure of your credit score, there are multiple ways to obtain it.

If your score is fair or poor, you may have difficulty qualifying for personal loans, including auto loans and home mortgages, or end up paying higher interest rates on loans and credit cards. Even if you’re around the national average, you can save money by raising your credit score and qualifying for lower interest rates.

Before you seek help from a credit repair service, you should know what companies can—and can’t—do. No one can legally remove accurate and timely negative information from a credit report. You have the right to dispute items on your credit report yourself, but this is a confusing and time-consuming process. Credit repair companies in Indianapolis do the work for you and have the experience to get the results you want.

The credit repair industry is largely unregulated, so it’s important to choose a company you can trust. Indiana state law requires credit repair companies to:

• Have a written contract with consumers describing in detail the services to be performed
• Provide consumers with a right to cancel the contract with three days
• Maintain a $25,000 bond to be used to satisfy consumer claims

Indiana law also gives consumers the right to sue credit service organizations for twice your actual damages or $1,000, whichever is greater, plus attorney fees if the company is intentionally engaging in fraud.

While you have good reason to be vigilant when choosing a credit repair company in Indianapolis, a reputable one can help you get your credit back on track. A Federal Trade Commission study found that 1 in 5 consumers have an error on at least one of their credit reports. Common mistakes on credit reports include:

• Closed accounts reported as open
• Amounts incorrectly reported as late or delinquent
• The same debt listed multiple times
• Accounts with incorrect current balance or limit

A credit repair company in Indianapolis can help you remove errors and raise your credit score, but the process doesn’t happen overnight. The average consumer completes the dispute process in three to six months, but it may take more than a year for you to see the results show up on your credit score.

There’s no guarantee of results, but choosing a credit repair agency with a good reputation can give your score a boost.