Monthly service credit repair is simply a contract or agreement for credit repair services that renew on a month-to-month basis for a period of typically 6 months to 1 year. Most credit repair companies operate on this business model, but some companies employ the pay per delete model. You can read about pay per delete credit repair, and a comparison with monthly HERE. Today, we will focus on the monthly model, and explore the advantages and disadvantages.
Before we take a deep dive, we at Credit Wellness Solutions believe our clients should be in the driver’s seat, having the ability to choose their credit repair experience. We offer both monthly service credit repair and pay per delete credit repair. We allow you to choose your credit monitoring, how you pay us, and how deep and far we go into your credit repair experience. We have yet to see another company that does this. We really would love to earn your trust, and your business. Click the button below to schedule a FREE consultation.
Monthly Service Credit Repair Advantages
Monthly service credit repair has many advantages. More companies use this model than any other model. The largest credit repair companies use this model as well. People usually like something straight forward and easy to understand. This is why this is one of the more popular options that consumers have to choose when it comes to their credit repair experience. Let’s explore those advantages…
- Great For Those On A Budget Or Fixed Incomes – Since you pay for credit repair services on a monthly basis, you get affordability and predictability with monthly payments that stay the same for the duration of your service agreement.
- No Surprise Large Bills – Since the payments stay the same, you won’t get the surprise bill that happens when those on a pay per delete credit repair plan get when the company achieves a lot of deletions in a short period of time.
- Shorter Contracts And Fast Service – Most monthly service contracts have terms of 6 months to 1 year. This means the company will work on every item at one time in order to get your credit repair finished in that period of time.
- Lower Startup Costs – Since you will be making monthly payments, costs for onboarding and first work (Usually a credit report audit and other services like personal info updates).
- More Time Spent On You – Since you are making monthly payments, the company will have to provide value for your investment since results can take time. Things such as 1 on 1 coaching, or more education about credit and how to properly manage credit.
Monthly Service Credit Repair Disadvantages
Monthly service credit repair does have its disadvantages, and as the image to the right suggests, most credit repair companies won’t tell you the disadvantages. Of course, that is because most credit repair companies operate on this model. Although, we won’t have a complete list of every advantage and disadvantage, we will highlight some of the biggest disadvantages. Below are the disadvantages of monthly service.
- You Pay Each Month, Regardless Of Results – One of the biggest complaints about credit repair stems from consumers paying monthly payments and seeing no results. Just take a look at the Better Business Bureau rating of one of the largest credit repair firms in the USA Click here to see.
Credit repair companies are charging you for their work the previous month (yes, they are actually doing work on your file). It does take time to see results, and while it may be frustrating the credit repair process is a marathon and not a sprint.
- Most Monthly Service Credit Repair Companies Use Automatic Billing – Usually, you will have to sign up with a credit/debit card that gets automatically charged each month on the same date. Always ensure you be mindful of that to avoid running up your credit card’s balance, or overdraft fees.
Credit Wellness Solutions uses Escrow.com for our payments. We believe in the safety, security, and peace of mind that using escrow can provide. By using an escrow service, it holds us accountable because we will not get paid unless we prove we provided the service as promised to you. We offer both monthly service, and pay per delete credit repair.
- Monthly Service Credit Repair Companies Are Typically Not As Aggressive – Because the company is receiving payments from you, they won’t be as aggressive or creative to get a deletion as a pay per delete company. Most use credit repair software that sends template letters (some 609 letters) that tend to be non-factual, or only disputing 1 error. The company may only spend 5-10 minutes per client monthly working on their files.
While this may be true for most companies, there are a handful of other companies that go extensive and deep on their client’s file and spend hours monthly working on the client’s file. Credit Wellness Solutions does not use credit repair software and does not use cookie-cutter template letters. We look for meaningful solutions to truly fix your credit, even if we must pursue legal action or arbitration.
- Your Chances Of Running Into A Scammer Is Greater – Every industry has bad actors, but credit repair is one industry that seems to get more news. Be sure you know what you are getting for your monthly payments, and that you aren’t actually paying fees in advance of the work. Their service agreement should define their service clearly, and they should be able to answer questions.
If you are on a monthly service credit repair plan with Credit Wellness Solutions, you are paying for our work each month, such as writing dispute letters and other communications, our analysis of your credit report each month, credit education, and building your case for litigation or arbitration. You will be provided proof of our work before we bill your escrow account, we also have to prove our work to the escrow company.
- Credit Repair Software Uses Deceptive Marketing Tactics To Make New Companies – If you can’t tell already, we are not fans of most credit repair software companies. They prey on consumers seeking to fix their own credit, and those who dream of owning a business, promising them they will make millions if they use their software. This results in new companies popping up that are not trained. This is one of the things plaguing our industry, and we vow to stop it.
At Credit Wellness Solutions, we have been trained by the industry’s top professionals and attorneys, we are also constantly learning new strategies to help people really improve their credit. We stay constant in continuing education and will soon add more certifications and qualifications to our resume. We are dedicated to becoming the best credit service company in the nation.
Getting The Most Out Of Your Monthly Service Credit Repair Experience
It can be a little challenging to pay for credit repair service each month, and not seeing immediate results, below are some tips and tricks to get the most out of your credit repair experience and set yourself up for future success beyond your credit repair. All of these old sayings ring true in credit repair.
- Cheap Service Ain’t Good, Good Service Ain’t Cheap – While shopping for the best price isn’t a bad thing, remember to also look for value in what you are paying for. Many companies who offer the cheapest plans, do not invest in client education, or use the best strategies to produce meaningful results.
- You Get Out Of It What You Put Into It – Credit repair is a team effort. The more involved you are in your investment, the more success you will have. Listen to their advice as far as, managing your current credit, how to handle unpaid debts (credit repair does not eliminate debt), and not applying for new credit unless recommended.
- Take Advantage Of Credit Builders (If Recommended) – When you hire a credit repair company, you obviously want to improve your score. Credit building products, can often give you pretty nice boosts on your credit score while the company is working in the background to get the negative items removed.
- Save & Send EVERYTHING! – One of the keys to a successful, and swift credit repair experience is to send everything to the credit repair company that is sent to you from your creditors, debt collectors, and the credit bureaus. Also, save the information as you never know what may arise.
- Communication Is Key – Be sure to have an open line of communication with your credit repair specialist so you know what is happening, and how you can help them help you.
Final Thoughts On Monthly Service Credit Repair
The monthly service credit repair business model is great. You just have to shop around and know who you are dealing with. Pay per delete credit repair is also good for those who are skeptical and want peace of mind. Last week we discussed the pay per delete model, and we have done a comparison of both business models. We offer both monthly service credit repair and pay per delete credit repair. We want our customers to be
in full control of their credit repair experience. We invite you to schedule a free consultation and experience the difference Credit Wellness Solutions offers our clients. No matter which credit repair plan you choose, you will receive the same quality of service, and the same tools available to you. We are more than a credit repair company, we are a complete credit service, and unlike the vast majority of companies, we can help you hold the bureaus and your creditors accountable, helping you to get paid for errors on your credit report. Click the button below to schedule a Free Consultation today!
