Best Credit Repair Companies in Omaha, NE

Credit repair in Omaha

Your credit score is used when buying a home, renting an apartment, taking out a loan or applying for a job. Having a high credit score opens up more financing options and lets you receive lower interest rates. Incorrect information on your credit report can lower your score and limit your financial options.

The table below shows the monthly payment and interest costs for a $135,000, 15-year fixed mortgage in Nebraska at different credit levels.

The average credit score in Omaha is 696, which is almost great credit and 21 points higher than the national average of 675. Experian ranks Nebraska in the top 10 states with the highest average credit score. If your credit score is below average, you may be able to improve your chances for receiving financing by hiring a credit repair company.

Omaha residents have the right to request a free copy of their credit report annually. You can use that to challenge errors, but disputing your credit report can be a time-consuming and complicated process. Credit repair companies make the process easier by using their experience to dispute items on your credit report for you.

How credit repair in Omaha works

A credit repair company starts by retrieving your credit report from each of the three major credit reporting bureaus: Experian, Equifax and TransUnion. After reviewing the report for errors, the company contacts the credit reporting bureaus and your creditors to dispute any incorrect items. Finally, the credit repair company educates you on how to rebuild your credit.

The process can take 45 days to six months, depending on the number of incorrect items on your report, and it may take up to a year to see improvements in your credit score. Once your report is updated, make sure all of your bills are paid on time to continue improving your credit score. Late and missed payments stay on your credit report for seven to 10 years.

Omaha credit repair cost

Credit repair services in Omaha have enrollment and ongoing monthly fees. Enrollment fees run anywhere from $59 to $250 and cover setting up your account and pulling your credit report. The monthly fee costs between $49 to $89 and covers ongoing negotiations. Some companies structure their ongoing costs per item removed from your report, charging between $10 and $70 per item.

Most companies in Omaha assign a team of representatives to your account. Some credit repair companies in Omaha assign a personal account manager so that you always speak to the same person with any questions. All companies should provide online account access to monitor activity.

How to avoid credit repair scams in Omaha

The Credit Repair Organizations Act is a federal law that was passed to protect consumers from credit repair scams. Any reputable credit repair company will adhere to the law, and a reputable company:

• Provides consumers with a written contract specifying the services provided as well as the terms and conditions of payment.
• Will not ask for upfront payments for services not yet rendered.
• Will not suggest you make false claims about your credit accounts or alter your identity.
• Will not knowingly mislead you about the services it is capable of offering or how quickly credit can be repaired. For example, a company cannot remove accurate information from a credit report.
• Will not ask consumers to sign anything that states forfeiting of rights under the Credit Repair Organizations Act. Any such waiver cannot be enforced.

A good credit repair company will also provide education to help you maintain your credit score after it is repaired. Choosing the right credit repair service in Omaha will not only help raise your credit score but also give you the resources to keep it high and set you up for a brighter financial future.