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Credit Repair Companies

Sky Blue Credit Repair Review

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Just getting started with credit repair and not sure what type of service you need? If so, Sky Blue Credit may be a good place to start. The company’s flexible credit repair service can be tailored to meet the needs of those preparing to buy a home, facing debt collectors, or simply trying to rebuild their credit score. But as with all credit repair companies, there are a few drawbacks to consider, too. Our review lays out all the pros and cons to help you decide whether Sky Blue Credit is the right credit repair choice.


Pros Explained

Cons Explained

Types of Services

It’s fairly common for credit repair companies to offer multiple tiers of service packages, selling premium services at a higher monthly cost. Sky Blue Credit offers just one. However, this single plan is more flexible than most, covering a broad scope of services that can be personalized to suit individual needs.

Professional Credit Analysis

One of the main benefits of working with a credit repair company is having an expert set of eyes check your credit report for potential discrepancies. A seasoned credit repair professional may be able to spot errors you would have otherwise missed. Sky Blue provides a detailed analysis of each credit report upon signup.

Credit Disputes

Once Sky Blue Credit has gone through your credit reports, the company begins sending disputes to the credit bureaus on your behalf. Up to 15 disputes, or five per bureau, are included with each month’s membership fee.

Score Rebuilding

In reviewing your credit, Sky Blue Credit will offer suggestions for steps you can take to improve your credit score. This may include prioritizing paying off certain balances or opening a secured credit card. The company will also work with you to form a long-term credit rebuilding plan.


Optional Add-Ons

Since Sky Blue Credit’s service package is all-inclusive, there aren’t any paid upgrades to mention. However, the monthly membership fee does cover a list of services the company considers optional as they’re only applicable to a handful of specific cases.

Debt Validation

If you’ve received a letter from a collections agency for a debt you believe is erroneous, Sky Blue Credit will help you navigate the debt validation process by asking the agency to provide proof of the amount owed.

Goodwill Letters

In some cases, goodwill letters can be sent to ask creditors to remove an accurate derogatory mark from your report. Sky Blue Credit advises that these letters are useful if the event (such as a late payment) was a one-time occurrence and you’ve been making payments on time for at least six months since.

Cease and Desist Letters

Sky Blue Credit customers who have been inundated with debt collection calls can ask the company to send cease and desist letters to stop communications. However, the company notes, this is only used as a last resort as it may trigger a lawsuit from the collection agency.

Debt Settlement Consultations

While Sky Blue Credit isn’t a debt settlement company, customers can ask for advice regarding the possibility of negotiating a reduced payoff amount with the creditor.

Mortgage Preparation

If you’re fixing your credit in preparation to purchase a home, Sky Blue Credit specializes in mortgage lender requirements and will adjust your credit repair strategy according to your timeline.


Customer Service

The best way to get in touch with Sky Blue Credit is by phone or email. Note that phone lines are only open from 9:00 a.m. until 5:00 p.m. EST, hours that might be inconvenient for busy professionals. Sky Blue doesn’t offer live webchat or a smartphone app, although customers can manage their account by logging into an online portal.


Company Reputation

To gauge the reputation of credit repair companies, we often turn to the complaint database maintained by the Consumer Financial Protection Bureau (CFPB). Sky Blue Credit has been named in two complaints in the past three years, both related to customer service issues. The CFPB notes that both complaints were closed in a timely manner.

Sky Blue Credit also has a profile with the Better Business Bureau, although the company isn’t accredited and has a rating of C-. Despite this, customer reviews on the website average an impressive 4.5 stars. Sky Blue also maintains a 4.3-star rating on Google.

If you have a complaint about the services of a credit repair company, you can file a complaint with the FTC or call 877-FTC-HELP.


Contract Duration

Customers who sign up with Sky Blue Credit are not subject to any long-term contracts. The company’s cancellation policy is among the most customer-friendly in the industry. Memberships can be canceled at any time by logging into the online portal, calling the customer service phone line, or sending an email. There are no fees associated with canceling.


Cost

Sky Blue Credit’s cost structure is fairly straightforward. Customers pay a $79 upfront fee for the initial setup and consultation process. There’s also a $79 membership fee for each month of service. Both fees are right around average for the credit repair industry.

If you’re not happy with your service for any reason, Sky Blue Credit will refund all fees paid within the first 90 days.


The Competition: Sky Blue Credit vs. Ovation Credit Services by Lending Tree

There’s a lot of competition in the credit repair industry, so we compared Sky Blue Credit to longstanding rival Ovation Credit Services by Lending Tree to see which offers better value. Ovation prices its base package in the same range as Sky Blue Credit’s sole offering, although the company also makes a premium membership available with unlimited credit disputes and TransUnion credit monitoring.

But Ovation also provides members with comprehensive educational tools designed to empower them to take control over their own credit, resources that Sky Blue Credit doesn’t come close to matching. For this reason, we’d pick Ovation Credit Services by Lending Tree as the better value.


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Credit Repair Companies

The 21 Year-Old Looking To Help 1,000 Families Raise Their Credit in 2021

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Vernell Watts is a credit repair expert, author, founder of Fortune800 – a credit repair company that has already helped hundreds to fix their credit score and develop healthy credit habits. His career started at a well-known credit repair company. Realizing that their techniques weren’t the best, he took time to study and build his own company. Currently, through his business, videos and his new book “The Credit Reset,” he is looking to help 1,000 families to permanently repair their credit in 2021.

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Vernell Watt is well ahead of his years. At the young age of 18, he started working for a nationwide credit repair company. He was a natural. Landing hundreds of clients and building good relationships, he earned good money and lived a comfortable life. “I was making amazing money and was able to buy myself a new car. I loved it.” some may have been content with their success, but Vernell began to dig deeper. He heard from his clients that they were not happy with the results of the service. Less than one percent of the clients he signed to the service saw any improvements in their credit score. “I couldn’t believe it. I knew I had to do something.” And he did. He left his job and began to study. After some time of studying, he realized that this company and many others were not offering the best solutions to their customers’ needs – he found his new niche. Build a credit repair company that actually helped it’s customers improve their credit score.

At 19 years old, Vernell launched Fortune800, a new kind of credit repair company. Designed to actually produce results, Watts saw huge success very quickly. Within four months, he had scaled his business to 6 figures and achieved a 55% success rate in improving his customers score. One of his reasons for his success is his blended method. Based on his studies of credit and credit companies, he developed his “blended technique,” a technique that simultaneously helps remove negative credit history while building positive credit accounts. This method allows his customers to see long lasting results. “One thing that I think is important is focusing on building credit, not offering a quick fix.” The second reason for Watts’ success is his knowledge. He has realized that knowledge, not age or experience is the key to mastering credit. Whether a client purchases his repair service or one of his books, Watts looks to help them understand the way credit works and how to understand it.

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His new book The Credit Reset is the perfect resource for anyone looking to fix and build their credit. Whether you are looking to build credit, buy a home, or prepare for a large purchase, this book gives you everything you need to get results in repairing your credit. He presents very detailed information in a very simple, easy-to-read 100 page blueprint. When asked what his motivation was to help others, he responded, “Your credit can be your largest asset or your largest liability. I want to help people make it an asset.”

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Do credit repair services work?

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You probably already know about the importance of having a good credit score. It can increase your chances of getting approved for credit products and help you secure lower interest rates. If your current credit score is less than stellar, you’ve perhaps considered using a so-called credit repair company. But do credit repair services really work and are they worth it? We take a look.  

What is a credit repair company?

Simply put, it’s a company that offers to improve your credit score in exchange for a fee.

A quick online research reveals a large number of these companies. Some also advertise their services in print media, as well as on TV and radio.

The way most credit repair companies claim to work is by helping you remove inaccurate or unverifiable information from your credit report.

They will start by requesting a copy of your credit report from each of the three major credit agencies (Experian, TransUnion and Equifax). After going through the report, they will devise a strategy for disputing any errors or inaccurate information in the data that may have a negative impact on your score.

Do credit repair services work?

There are currently no reliable statistics regarding the effectiveness of credit repair services. There is also insufficient data on the impact these services have on customers’ average credit scores.

That isn’t to say they don’t always work. If you can find a legitimate credit repair company that is able to identify errors, mistakes and unverifiable data on your report, they can help you get it removed. This could raise your score. Of course, nothing is guaranteed.

Many credit repair companies will claim to have helped thousands, if not millions, of people by removing negative credit entries and improving their credit scores. But short of asking a close friend or family member who may have used their services and been pleased with the outcome, there is really no way to know for certain.

Are credit repair services really worth it?

That depends.

The reality is that most of the services that credit repair companies offer are things that you can do yourself. For example, reviewing and disputing errors on your credit report is something you can do without professional help.

That being said, the process of disputing claims can sometimes be tedious. You will most likely need to contact several parties, including lenders and credit reference agencies. You might also have to wait a considerable time for a response.

It’s understandable that you might prefer to focus your time on other things. That’s when contacting a credit repair company to do the dirty work for you could help.

Naturally, it is only worthwhile if there are actually mistakes or errors on your report and the credit repair company’s efforts lead to their removal.

Bottom-line

In a nutshell, some credit repair services can work, but whether you really need them is up to you. Before you contact them, take time to really think about whether you will be getting value for your money.

Just as importantly, don’t forget to do your homework to establish whether the company you plan to use is legitimate, particularly if they contacted you offering services. You can start by checking online reviews on sites such as Trustpilot.

The kind of services that a company is offering can also tell you whether a company is credible or not.

For example, be wary of companies that guarantee to improve your credit score. Also be sceptical if a company promises to remove negative but accurate information from your report before it’s automatically removed (such as bankruptcies, CCJs and IVAs).

Finally, companies that ask you to make full payment before it provides its services is best avoided.


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Is it Free to Repair Your Credit Alone?

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You can repair your credit score by fixing errors – for free – without the help of anyone. There are credit repair companies that can help you repair your credit, but those services come at a price. It’s also a great time to start your credit-repair journey alone because the credit bureaus have opened up access to track your progress yourself!

What Does a Credit Repair Company Do?

Credit repair is defined as fixing your credit reports to raise your credit score. Borrowers with negative marks on their credit reports are often tempted to enlist the help of credit repair companies, but the truth is, you can fix your own credit reports alone.

A credit repair company can’t randomly raise your credit score just because you paid them (if they advertise this, beware). What credit repair companies can do is help you remove inaccurate information and accounts from your credit reports. They can contact your creditors for you, and with your permission, look at your credit reports to see if there are errors that need to be corrected.

However, you don’t need a credit repair company to do any of this, because it’s your right to dispute incorrect information yourself and have it fixed for free.

Dispute Inaccuracies Yourself to Repair Credit

Is it Free to Repair Your Credit Alone?Credit repair by a dispute is the process of correcting errors on your credit reports with the goal to improve your credit score. For example, say you had an account in collections and you paid it off, but it’s been a few months and the credit bureaus haven’t reported it as resolved yet. You can file a dispute with that credit bureau, send proof that you paid that collection account off, to have it accurately reported on your credit reports to improve your credit score.

It doesn’t cost you anything to file a dispute – except maybe your time and energy. If you have multiple errors on your credit reports and don’t have the time to resolve them, then a credit repair company may be worth your time. But if you only have a few things that need to be corrected, then doing it yourself saves you money.

If your credit reports are littered with inaccuracies and you don’t have the time or know-how to resolve them, then visit our resource center for more information on credit repair companies.

What Can I Fix on My Credit Reports?

For a dispute to be considered, you typically need to provide proof that the disputed account is inaccurate. This means you may not be able to “fix” every negative mark on your credit reports.

If you filed for bankruptcy and it’s reported as such, you can’t simply report that bankruptcy as inaccurate to remove it from your credit reports. The credit bureaus have up to 30 days to investigate the account you disputed, and if proven inaccurate, they remove it. If they find that the account is correctly reported, it stays on your credit reports.

Here are some examples of what you can dispute:

  • Accounts or information that were the result of identity theft or accounts that aren’t yours
  • Incorrect personal information such as your birth date or past addresses
  • Duplicate accounts
  • Payments that were reported late but were actually on time
  • Inaccurate loan balances
  • An account’s status (active, closed, past-due)
  • Hard inquiries that you never approved
  • Accounts that should have been included in bankruptcy

You can file a dispute online for free with all three credit reporting agencies: TransUnion, Experian, and Equifax. In many cases, you need some kind of proof that a disputed account is inaccurate, so it may be wise to gather supporting documents such as receipts, verification emails, or screenshots to increase your chances of it getting removed. Sometimes, a credit bureau may not need any proof to remove inaccurate information, but that usually depends on what you’re reporting.

Checking Your Credit Repair Progress

Due to the pandemic, the credit bureaus are allowing all consumers the opportunity to request their credit reports for free each week. Visit www.annualcreditreport.com to request your free credit reports so you can keep track of your progress, check on disputed accounts, and make sure your credit reports remain accurate.

Normally, you only get one free credit report from each bureau every 12 months. The recent havoc has created the need for borrowers to keep track of their financial wellness, so weekly access is available until April 2022 – so jump on it while you can!

No Errors? Build Credit Other Ways

Errors can happen, but bad credit could simply be the result of past mistakes, financial instability, job loss, divorce, or just a lack of credit history. If your credit reports are accurate and you have nothing to fix, then building a credit history with new credit could be the path to take.

Installment loans are a great way to build a payment history since installment loans such as mortgages and auto loans typically last for years. If you completely pay off an installment loan without any mistakes, it could boost your credit score significantly and possibly increase your chances of getting future credit because you’ve proven your ability to repay borrowed money.

Many borrowers start off their credit history with a car loan, and other bad credit borrowers can get back on track with one, too. It’s not always easy to get approved for an auto loan when your credit score isn’t great, but we want to help.

Bad Credit Lending Opportunities

If taking on an installment loan to build your credit score is the route you want to take, let us guide your way at Auto Credit Express. We’ve spent over two decades cultivating a nationwide network of special finance dealerships that specialize in assisting borrowers with less than perfect credit. To get matched to a dealer in your local area, complete our free auto loan request form.

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