11 Best Credit Repair Services in 2023

Fixing your credit can feel daunting, especially when dealing with a financial setback or managing a tight budget. Improving your credit score also involves maintaining good habits like making all your payments on time, keeping your credit card balances low, and only taking on new debt when you can afford it.

“Credit repair” might seem like a buzzword or a magic wand. While it can’t remove legitimate negative marks, like missed payments or collections, it can significantly affect your financial health. And various companies, services, and software programs can help you improve your credit score.

Let’s break down what credit repair means and how to determine if it’s worth the cost.

What is Credit Repair?

Simply put, credit repair is the process of fixing your credit report when errors, inaccuracies, or unsubstantiated negative information hamper it. It involves identifying and disputing these errors with credit bureaus, which are the companies responsible for compiling your credit report. When successful, credit repair can improve your credit score, making it easier (and usually less expensive) to borrow money, rent a home, or even get a job.

Top Credit Repair Companies

Credit repair companies work to improve your credit score by disputing errors on your credit reports. Here are a few reputable ones:

1. Sky Blue Credit: Known for its customer service and effective dispute process, Sky Blue offers a simple, flat-rate pricing structure at $79 per month.
2. Lexington Law: This company employs lawyers experienced in credit law. They offer different levels of service starting at $89.85 per month.
3. CreditRepair.com: They provide a personalized online dashboard and score tracker, with monthly plans starting at $69.95.
4. The Credit People: The credit repair company that offers services aimed at helping individuals improve their credit scores by removing inaccurate or unverifiable negative items from their credit reports.
5. Ovation Credit Services: This company offers several services, including dispute management, personalized dispute options, credit monitoring, and financial management tools. They work directly with creditors as well as with credit bureaus.

Keep in mind that no company can guarantee specific results or remove accurate negative information from your credit report.

Top Credit Counseling Services

Credit counseling services can provide valuable advice and assistance in managing debt and improving your credit over time.

1. GreenPath Financial Wellness: A non-profit, they offer free debt counseling and low-cost debt management plans.
2. American Consumer Credit Counseling (ACCC): ACCC provides free credit counseling and low-cost debt management services.
3. InCharge Debt Solutions: They offer free credit counseling, low-cost debt management plans, and financial education.

Top Credit Repair Software

If you prefer a DIY approach, credit repair software can guide you through the process of improving your credit.

1. Credit-Aid: This software provides a cost-effective way to spot and dispute errors on your credit report. It’s priced at $29.95.
2. TurboScore Home: TurboScore provides dispute letter templates and a guide to improving your credit. It costs $49.95.
3. DisputeBee: DisputeBee is a credit repair software company that provides users with tools to clean up and improve their credit reports for $39 a month.

Remember, repairing your credit is not a quick fix but a gradual process. Maintaining good financial habits like paying your bills on time, reducing your debt, and keeping your credit card balances low is crucial. These practices, coupled with the help of credit repair services or software, can help you improve your credit score over time.

Average Cost of Credit Repair

The cost of credit repair can vary widely depending on whether you choose to do it yourself or hire a professional. If you decide to take the DIY route, the expenses will mainly involve your time and possibly some small fees for credit reports.

If you hire a credit repair company, costs can range from around $70 to $130 per month, often with an upfront setup fee. Some companies also offer tiered pricing, with more expensive packages providing more services.

Is Credit Repair Worth It?

The “worth” of credit repair largely depends on your specific situation. Here are a few things to consider:

• The severity of credit issues: If your credit report has many errors, professional credit repair could substantially improve your credit score.
• Time and knowledge: Credit repair can be a lengthy and complicated process. A professional service could be valuable if you feel uncomfortable navigating it yourself or are already stretched thin.
• Financial impact: Higher credit scores generally mean lower interest rates on loans and credit cards. If credit repair leads to even a tiny improvement in your score, it could save you hundreds or even thousands of dollars over the life of a loan.

To determine if credit repair is worth the cost, consider getting a free consultation from a company. They can give you an idea of what results you might expect. Then, calculate the potential savings from lower interest rates and balance those against the cost of the service.

Do-It-Yourself (DIY) Credit Repair

If you’re thinking about improving your credit score, you might wonder if there are alternatives to credit repair services. You may be a DIY person, or perhaps you’re on a tight budget. Either way, it’s good to know that you have options. 

Who doesn’t love a good DIY project? Repairing your credit can be one too. The first step is to request your free annual credit reports from each of the three major credit bureaus: 

• Experian 
• Equifax 
• TransUnion

Review them carefully for any errors or inaccuracies. You can dispute any with the credit bureau if you find any. They’re required by law to investigate and correct any mistakes. Just make sure you keep detailed records and copies of your correspondence. The best part? It is free, besides your time and potential postage for mailed disputes.