Credit repair companies may charge fees without delivering the services that they promise. If you are an Illinois debtor and have contracted with one, you are allowed to cancel the agreement.
Ask to see results first
When a credit repair company conducts telemarketing in order to sell their services, they must meet requirements before they ask you to pay anything. They have to deliver on the promise that they’ll achieve results within a certain period and need to provide you with a consumer report that details these results. The company should generate this report more than six months after they claim to have gotten the agreed upon results.
It’s not necessary to pay a company to fix your credit
You don’t have to pay anything at all to dispute mistakes that you find in your credit reports. There are places online where you can request to get free credit reports that detail your credit issues every week. Inspect these to see if there are any errors.
Keep in mind that credit repair companies cannot legally have information taken from the reports if it’s current and accurate. If an agent from the company claims that they can do this, it’s a big red flag.
Cancel credit repair services without a problem
If you don’t see results with your credit repair services, you can reach out to the company and legally cancel them. You’re able to cancel even without this being the case. Don’t let the stress of poor credit overwhelm you and lead you to make or stick with inadequate services.