Credit scores can be difficult for even the savviest consumer to understand, but not for an algorithm. With Dovly, a Phoenix-based tech startup designed to automatically help customers raise their credit scores, co-founder and CEO Nirit Rubenstein set out to make credit accessible to the average consumer and to help the people hardest hit by a punitive system.
Now, after raising $2 million in seed funding this month, the Phoenix-based startup will be able to do just that.
When Rubenstein founded Dovly in 2018, she was already well-versed in the problem of bad credit. As the CEO of Credfly, a credit repair company in Los Angeles, she saw just how difficult navigating the credit system is for consumers, and just how badly a better solution was needed.
“I just felt like there has to be a better way to solve this massive problem impacting 70% of the U.S. population in a way that was looking out for the consumer,” Rubenstein said.
After her stint at Credfly, Rubenstein relocated to the Phoenix area to work as the chief operating officer at Nextiva, a business communication company based in Scottsdale. But a year into her new job, she found the problem of credit still nagging at her.
“The thing with credit is it’s everywhere. I would see it in my everyday life that I had the solution and I knew how to solve this problem that people were struggling with,” Rubenstein said. “If I’m in line at Target and the cashier’s asking the guy in front of me if he wants to Red Card and he says ‘No, I can’t, my credit sucks,’ or if I’m taking an Uber and the driver’s talking to me about what I’ve done in the past and then starts telling me how his credit is horrible because x, y and z — it was everywhere. It was kind of following me, and I felt like I knew how to solve the problem, and I had a responsibility to do that.”
Rubenstein’s solution was Dovly, an algorithm-based service that helps subscribers raise their credit score by assessing their credit report and submitting automatic monthly disputes to the three credit bureaus.
In developing the algorithm, which determines exactly which of the 32 parameters on each line of credit to dispute for a customer, co-founder Tedis Baboumian’s knowledge of the credit industry was invaluable, she said. The pair met while Rubenstein was leading Credfly.
“I realized how brilliant he was, and I realized how nuanced consumer credit was and that I would need someone with his subject matter expertise to help me,” she said. “It’s an algorithm where we really just took Tedis’ brain and productized it. It sounds robotic, but we wrote a lot of rules and tweaked and tweaked, and we continue to tweak on a regular basis.”
Rubenstein could see the need for a product like Dovly. She could also see how anti-consumer the credit industry was, “which is against my entire ethos,” she said.
Her drive to be helpful to consumers comes in part from her years working at SalesForce. As one of the company’s first 200 employees, she had the opportunity to watch CEO Marc Benioff in action.
“His entire attitude was that you first and foremost take care of your employees because they’re the ones that care for your customers. And if you care for your customers, then your business is going to be viable and thrive,” Rubenstein said. “I would say out of all the people that I’ve ever worked for, he’s probably the only one I learned what to do from; everyone else was more learning what not to do.”
But being pro-consumer is also more than just a leadership principle for Rubenstein: it’s also fundamental to her ethos as an Israeli.
“Part of it just comes from being a human being,” Rubenstein said. “I’m a human being, first and foremost, and that comes from my Jewish heritage.”
Born and raised in Israel, Rubenstein served in the Israel Defense Forces before entering the tech industry. Growing up, she learned the value of coming together to help one another.
“My favorite analogy with Israel is when you’re in Israel and you get a flat tire, hundreds of people will stop and help you. But when you’re trying to merge back into traffic, nobody will let you in,” Rubenstein said. “The analogy there is that coming together in a time of need and helping people is really a fundamental piece of being Jewish and being Israeli. And I think that, to me, has a lot to do with why I left Nextiva, which was a great job, really high paying, great culture, to then start this, which is really much more about helping the population that is underserved and gets an unfair shot at life.”
For Rubenstein, Phoenix has been a surprise, both in terms of how her family fell in love with it and how the business community compares to more traditional tech scenes like San Francisco and Los Angeles.
“It’s a small business community, but it’s very, very, very tight-knit,” Rubenstein said. “People are genuinely helpful. They really want to be a community and help you thrive and be successful, so it felt very different.”
And while Arizona is working to put itself on the map as a hub for entrepreneurs, startups and tech giants, there’s still room for growth.
“The tech scene is growing. I started my career in San Francisco and then L.A., so compared to those geographies, it’s still a long way away,” Rubenstein said. “I think the tech scene is probably what Austin was maybe 10 years ago. We’re getting there, but I think we still have a ways to go.”
As for her own company, Rubenstein sees only more growth from here.
“Dovly is going to change the way credit works in the future — it’s going to be a billion-dollar company, there’s no question about it,” she said. “Our goal is really to make financing accessible to the masses, because right now, if you don’t have good credit, you don’t have access to financing, and that impacts your life negatively in many, many ways. So our goal is to really change the industry, to change the way things are done, to be an advocate for the consumer and make things more equitable.” JN
With their new website launch, Intel Credit Consultants is seeking to serve its clients better and effectively by providing an easy to navigate platform
Credit repair company, Intel Credit Consultants has launched a new website. While making the announcement, the lead consultant at the company said they are seeking to provide better services to their customers at a time when people have been negatively affected by the effects of COVID 19 on the economy. The new website according to the company representative is easy to use and navigate with visitors finding what they need easily and quickly. “We are providing a platform where our customers and visitors can get all the information they are looking for easily. We understand the pain that people go through as they seek for information on credit repair, our newly upgraded platform is arranged in such a way that answers that you seek are answered and to your satisfaction,” said the company representative while articulating some of the features they have included to make their platform more user friendly and informative.
Apart from sections that articulate the company services and other related information, the website also contains a blog section where customers and visitors can find articles written by professional credit repair specialists. “As a company that believes in equipping its customers with information which help them make informed decisions , we will be posting well-researched and detailed articles that educate on credit repair and other financial matters,” said the company representative adding that this information is vital for any individual or business that is seeking to boost financial position.
Intel Credit Consultants has been providing credit repair services to its customers for a number of years growing to be one of the most trusted and reliable companies. According to the company representative, they are highly rated in the Google Reviews, something he attributed to quality services and superior customer support they have been providing to their customers. He added that with the new website, they will reach out to more people who are looking for credit repair assistance.
The credit repair company offers several packages including: Credit Wiz package which is a onetime purchase that allows lifetime access, gives access to documents and an option to become affiliate referrals. Finance plus package offers the customer different ways to remove negative info. Powerhouse package, elite credit repair and Elite financial repair are the other packages that customers can subscribe to, each providing several features which the company representative says are all aimed at providing superior credit repair services. The company spokesperson invites people seeking for credit repair services to visit the website and learn more about the packages.
Intel Credit Consultants is a credit repair company that prioritizes on clients’ needs making sure they are equipped with information that helps them make informed credit decisions. The trustworthy and hardworking credit repair firm aims at helping its clients reach their full financial potential. They are known for fast credit repair services targeting at seeing real improvement in client’s credit score in less than six weeks.
We Interviewed Clodwick Jossurin, the man behind The Investment Prince, who graciously shared his secret to the company’s astounding success.
Why did you decide to start The Investment Prince?
I had spent several years monitoring the e-commerce industry, and I realized a huge gap in the market. There were lots of people out there talking about how you could sell products online. But nobody was talking about how the products should be selected or how to do proper keyword research. That’s when I got the idea for The Investment Prince: to provide a reliable resource for everybody who wanted to benefit from selling their products on Amazon FBA.
What made you think that this was such a significant gap in the e-commerce industry?
To me, it just seemed obvious. Everybody is looking for shortcuts to success, and when it comes to selling on Amazon in particular, there’s this business model of low initial investment and high profit. But it’s not that simple. For someone new to succeed with FBA, they have to know how to choose what products to sell in the first place. They have to know how to do keyword research on Amazon. They have to be aware of the risks involved in selling on Amazon and make sure that they can handle those risks if they’re going to go forward with this choice.
What exactly is your role as CEO of The Investment Prince?
I oversee everything at The Investment Prince. I’m the guy who gets the product or service into place to ensure it works as we advertise it on our site. And I’m the person who goes out and gets people to invest in our company’s future. It’s a very active role, especially as we grow.
And what exactly is The Investment Prince has to offer to its members?
Technically, we have two options. First, we told you that we’re a resource for people who want to prepare themselves to be successful at selling their products on Amazon. And that comes in the form of our membership website. We walk our members by the hand, teaching them to be successful in this business. We also have infrastructures in place ready to serve all of them.
#1 Logistics and warehousing – we warehouse all our clients’ popular products and ship out their orders. #2 Cutting-edge technology – Our team of professionals has designed our logistics systems that are very efficient and ensuring that orders are delivered to the buyers on time. #3 Account setup: We help our members set up their Amazon FBA accounts. #4 Account Manager – We help our members submit orders to Amazon.com #5 Credit Repair – We connect our clients with a credit repair company that will help eliminate bad business credit reports and increase scores to help them get financing their business. #6 Business Fundin’: We connect our clients with a company that will help them get the necessary funding for their business. #7 Product Sourcing and Research: We help our clients source their products by sourcing for them and finding what they want. Some of them come to us with an idea and we find the right product for them.
How did you get enough capital to start up such a company? And who has been your investors?
We’re a privately owned company, so we don’t have investors per se. But we have partners who are willing to do business with us on the condition they share in our profits.
What about your competitors? How do you handle them?
We treat our competitors just like we treat our customers. We take care of their needs, give them the information they need and make sure they know we’re here to help them. That’s what makes people come back to us.
What would you have to say to people who are interested in joining in your business?
I want to let them know that there’s a lot of truth in what you’ve heard. Many people work from home, taking care of their own business instead of being at someone else’s beck and call. There’s no reason for people to live like slaves today. The Internet has made this possible. If they want to find out more about us, they should visit our website: http://www.theinvestmentprince.com
Having a credit score lower than 600 can make it difficult for you to qualify for loans or find low-interest rates.
When someone with a “fair” credit score gets a car loan of $25,346, he or she could pay around $3,847 more interest than someone with an “excellent” credit score.
Thankfully, credit repair companies can help you in disputing creditors on your behalf. While the credit repair industry has its fair share of scams, there are reliable firms that can help you improve your credit score and eliminate erroneous information from your credit report.
Below, we review the best credit repair companies in 2021 to help you assess which firm best matches your situation.
CreditSaint has been in business since 2004. The company has maintained an A+ rating from the Better Business Bureau, which proves its strong reputation. CreditSaint claims to be the number one company in challenging inaccurate credit data, including the following issues:
If you want comprehensive packages, CreditSaint may be a good choice for you. CreditSaint offers three packages depending on the level of aggression required to remove inaccuracies from one’s credit report. These include:
This plan includes all the features in Credit Polish but with a few extras. Instead of five, you get ten challenges of inaccurate information per month. You may use these to address hard inquiries. This package also includes Experian credit monitoring.
Clean Slate (Aggressiveness: Very High) – $119.99 / month
The “most aggressive” package includes all the features in both Credit Polish, and Credit Remodel with some added features, such as unlimited disputes per month. The company can also send Cease and Desist letters in your name, so creditors will stop hassling you.
Founded in 2004, Lexington Law is one of the largest credit repair companies on the list, with over 600 employees. As its name suggests, the company employs experienced lawyers and paralegals. This is a significant advantage because you can get reliable and well-informed pieces of advice from the company staff.
When you hire Lexington Law for credit repair services, the company will assign you a Personal Case Advisor. Your Personal Case Advisor can help you get through the entire process of credit repair. This can be great for those who don’t want to speak with multiple people about their credit woes.
Since 2004, Lexington Law has helped more than 500,000 credit repair clients. The company has removed more than 10 million faulty items from clients’ credit reports.
Lexington Law’s website is easy to navigate. It also contains helpful information that can help you improve your credit score. If you are always on the go, Lexington Law has a mobile app that you can download. You can use the mobile app to check the status of your credit repair wherever you are.
As far as pricing is concerned, Lexington Law’s rates are higher compared to competitors. Lexington Law has three plans, ranging from $89.95 to $129.95 per month.
The Credit People is the smallest credit repair company on this list. That can work to your benefit, though. A small company usually has fewer customers. The downside to this is that we also found fewer customer reviews about the company while doing research.
The Credit People offers a free credit consultation, which you can request online to save time. Their pricing is easy to understand. They have a one-time fee of $19. The monthly plan costs $79. You can cancel your plan anytime you want to. They don’t charge cancelation fees. They also offer a 100% money-back guarantee.
If your spouse wants to sign up, there is a $20 discount on the first monthly fee.
The Credit People provides customer support via email or phone support. The hours of operations for customer support are limited to weekdays, though.
According to their website, The Credit People have eradicated around 1.5 million credit issues in its 15 years of business. The company also claims to have increased credit scores by approximately 53 to 187 points for each client.
Pyramid Credit Repair has been in the business for close to 10 years now. Based on our research, Pyramid Credit Repair receives favorable ratings from customers. They have a 4.8/5 rating in Trustpilot.
Pyramid Credit Repair gives its customers a risk-free assessment. You don’t need to pay an upfront fee. If you do decide to sign up with them, Pyramid offers customers a 90-day money-back guarantee. You can request a full refund if they are unable to repair your credit score.
If you decide to sign up with Pyramid, you will have a dedicated Personal Account Manager (PAM). The PAM will guide you throughout the entire credit repairing process and boost your credit ratings.
One of the things that customers like about Pyramid is the Personal Dashboard assigned to them. This is where you can get information on what is happening in your account. You can use your Personal Dashboard to communicate with Pyramid’s personnel.
The cost of engaging Pyramid Credit repair is $99 per month for individuals. The fee for couples is $198 per month. Couples also receive a 50% discount on their first monthly fee.
Ovation Credit is relatively new. Yet, it has an A+ accreditation from the Better Business Bureau (BBB). This is a reassurance that Ovation is reliable and adheres to industry standards.
The company’s website is simple yet intuitive. It is easy to navigate and informative. You can improve your knowledge about credit repair by spending a few minutes on Ovation’s website.
If you’re looking for help repairing your credit rating, you can choose from Ovation’s reasonably priced plans. Ovation’s Essentials Plan costs $79 per month, while Ovation’s Essentials Plus Plan costs $109 per month.
Ovation Credit’s plans don’t need a contract. You’ll get charged on a monthly basis. And you can cancel your subscription if you are not completely satisfied.
One feature that benefits customers who need immediate help is Ovation’s Same Day Service. It is a $25 add-on, but it means that your credit repair process gets fast-tracked. Plus, you can track your account’s progress 24/7 via Ovation’s online portal.
CreditRepair.com has been in business since 1997. This proves the company’s firm foundation in the credit repair industry.
If you want to get a better idea of how CreditRepair.com works, you can take advantage of their free 10-minute consultation. A CreditRepair.com representative analyzes your credit report. The consultation includes an examination of the three credit-reporting agencies. They will also provide you with recommendations on how you can improve your credit score.
According to CreditRepair.com, clients can get an average increase of 40 points in credit scores within four months in the program. This program includes checking, challenging, and changing the clients’ credit reports.
Another notable feature of CreditRepair.com is how it uses technology to the fullest. Their online portal keeps customers updated on how their credit repair is doing. The company’s website also contains educational articles. You can read them to increase your knowledge about credit repair.
If you are always on the go, you can still check updates on your repair status by checking out CreditRepair.com’s mobile app (iOS/Android app). The company’s mobile app is available to both iOS and Android users.
What sets CreditRepair.com apart from other credit repair companies is its pricing. Instead of a one-month subscription, CreditRepair.com charges customers with a one-time charge. The $14.99 cost is cheaper compared to what other companies charge.
One downside of CreditRepair.com is they do not offer a money-back guarantee. However, you can cancel your plan anytime you want to.
The company has excellent Trustpilot ratings. Out of 552 reviews, 71% of customers gave CreditRepair.com “Excellent” marks.
Credit Repair Company FAQ
What Are Credit Repair Companies?
Credit repair companies target the removal of information that lowers your credit score. Although they suggest that they only remove inaccurate information, this is not always the case. Some companies remove accurate but damaging information from a credit report.
Credit repair is a federal legal activity. It is also legal in almost all states. The only exception is the state of Georgia, where credit repair is a misdemeanor.
Do Credit Repair Companies Guarantee Errors Will Be Removed?
According to the Credit Repair Organizations Act, any company cannot promise or guarantee results. They cannot always remove all credit errors. Be that as it may, credit repair companies can help raise your credit score by a specific amount.
Do These Credit Repair Companies Offer a Money-Back Guarantee?
Not all featured companies in this list offer a money-back guarantee. However, don’t let a money-back guarantee offer get the best of you. While some companies don’t provide this, they have high success rates in challenges and provide comprehensive services to help you.
How Long Does It Take to Repair My Credit?
It takes about three to six months before you can notice progress in your credit. The time frame can be less than that, especially if you annually correct your score or if there are only a few flawed credit information. It can take longer than six months if you’ve never looked at your credit report.
Can I Repair My Credit Reports on My Own?
Yes, you can achieve the same results without the help of credit repair companies. It will just take a lot of time and effort.
Factors to Consider When Hiring a Credit Repair Company
Setup Fee: It is prohibited for credit repair companies to charge fees before working on your behalf. However, some credit repair companies charge initial-work or program fees wherein they work after the sign-up.
There are still top-rated companies that don’t require these fees. Be mindful of companies requiring very large upfront payments because they are violating the Credit Repair Organizations Act.
Money-Back Guarantee: A money-back guarantee is a common feature among top-ranked credit repair companies. When you choose a company that offers a money-back guarantee, you need not worry about wasting your hard-earned bucks on a service that can’t deliver its promises.
Free Consultation: The best credit repair companies won’t force you to sign up for their services right off the bat. Even if you have excellent credit, you can benefit from the free phone consultations that they give.
Customer Service: When you’re paying money for a service every month, you expect excellent customer service. The best credit repair companies have friendly and knowledgeable customer service professionals that can guide you in credit repair processes.
The Takeaway: Are the Top Credit Repair Companies Worth Trying?
If you don’t want to fix your credit issues on your own, credit repair companies can be of great help to save you valuable time. Our top picks, especially Credit Saint and Lexington Law, are a great place to start your search if you’re still unsure who to work with.
You just need to be wary of the company you’re hiring because credit repair scams are quite common. While the best credit repair companies can bring value to the table, some companies may leave you worse off than when you started.
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