Best Credit Repair in Oklahoma City, OK

Credit repair in Oklahoma City

Oklahoma has an average credit score of 656, which is average among consumers nationwide. Oklahoma City itself averages a little lower at 646. Even with credit scores in the state being decent, many residents still find themselves in need of credit repair.

Typical things that damage credit scores include:

• Foreclosure of a home or business
• Bankruptcy
• Six months or more of missed loan or credit card payments
• Tax liens
• Lawsuits

The good news is that there is help if you find yourself in a bad credit situation. Damaging items stay on your credit report for seven to 10 years. There are steps you can take to clean up your credit, from something as simple as making payments on time to hiring a credit repair company to fix inaccuracies. However, these companies cannot undo verifiable late/missed payments, accounts in collections and other negative marks that drag down your score.

Several credit repair companies serve Oklahoma City residents. The tricky part is making sure that you aren't being scammed. In response to this, the Credit Repair Organizations Act was passed. This federal law prohibits credit repair companies from collecting advance payment for work, requires that contracts be in writing and gives consumers cancellation rights.

Warning signs you could be getting scammed include:

• Asking you to mislead credit reporting agencies
• Asking for full payment before credit restoration services are complete
• Denying your right to cancel a contract if it is within three days of signing
• Asking you to sign something saying you forfeit your rights under the Credit Repair Organizations Act

After you choose a reputable company, the process for credit repair in Oklahoma City is simple to start. Many companies have an online form to submit your information and give access to your credit reports. From there, the company will look over your report and see what areas they can help improve.

Most companies have a monthly fee and a setup fee. However, the monthly fees aren't charged until the month's work is complete to stay in compliance with the Credit Repair Organizations Act. A lot of companies will even let you pause your membership if needed.