CHICAGO CREDIT REPAIR: ATTORNEY-POWERED CREDIT SERVICES
Infamous deep dish pizza, great architecture (who doesn’t love The Cloud Gate?), and a gigantic multicultural city that is a fraction of the cost to live in compared to LA or NYC – need we say more about Chicago? In addition to the attractive offerings of Chicago’s social scene, the city has a thriving economy, offering a mountain of employment opportunities for its residents. All these great attractions, and yet many Chicago residents are barely treading water when it comes to their credit scores. Chicago holds an average credit score of 648, a wildly low number in comparison to Illinois as a whole, which averages 671.
Creditors and lenders use a scoring system known as FICO®, which analyzes how likely you are to repay borrowed funds and calculates your credit risk. The scoring ranges from 300 to 850 and is determined by evaluating the following areas: your payment history, new credit, debt ratio, length of credit history, accounts owned, and your credit mix. Having a poor credit score is something anyone can experience. When the economy is suffering, you get laid off, or you’re hit with unexpected medical bills, financial hardship can quickly cause maxed out credit cards and unpaid bills. This is where credit repair experts in Chicago can step in to help you remove negative items from your report.
How Does Credit Restoration Work In Chicago?
When a few poor financial decisions cause your credit score to tumble into murky waters, it’ll have a massive impact on your life. Lenders will see you as a risky borrower, denying you financing for a new home in Chicago, college loans, or even that shiny new car you’ve had your sights set on. Because you’re classified as a high-risk borrower, you’ll be subject to higher interest rates and fees, loftier utility bills – costing you hundreds of your hard-earned dollars – and even make you vulnerable to pricey insurance premiums, all because of an unhealthy credit score.
As a Chicago native, possessing a bad credit score can completely disrupt your social, mental, financial, and even physical well-being. Your employment application may be denied as companies often factor poor credit into their decision-making process. And don’t be surprised to see your cell phone provider tack on an unexpected security deposit to compensate for the possibility of absorbing the cost of an unpaid contract. Chicago landlords are also wary of poor credit and will inflate your security deposit or decline your lease application as a way to protect themselves from potential loss of income.
Credit Repair Company Reviews
Jacquelyn Juarez
Javier Hernandez
Phenix Group is hands down the best credit repair company for anyone looking to improve their credit to buy a home, car, etc. As a lending professional, I can attest that they are head and shoulders above other credit restoration outfits.
Jacquelyn Juarez
from Google
I followed their plan and MAN oh MAN did they Deliver! 3 months and 150 points later and I just CLOSED ON MY HOME!! BEST DECISION I EVER MADE! WORTH EVERY PENNY!
Stephen Anderson
Zaena Cherif
What Credit Repair Services We Offer In Chicago
Home Ownership
Home Ownership-Our flagship service! All of our credit repair analysts are well-versed in the mortgage and underwriting requirements. We will work with you (the buyer), your lender, and the real estate professional involved in your purchase to ensure we are able to hit your closing date deadline with efficiency. If you are a first time homebuyer and want help with finding a reputable lender or realtor who will work for you during your home buying process, TPG has a network of trusted preferred mortgage professionals we can refer to you. We take an all-inclusive approach. Our process includes the creidt reporting agencies (CRA’s), creditors and third-party collection agencies who have reported erroneous information on your credit report. Going after the inaccurate information on all platforms helps create a permanent result. The Phenix Group will work diligently on your behalf to help raise your credit score. We’ve helped thousands of people in your position, and we can do the same for you. Contact us today for a no cost credit consultation.
Business Financing
There are a few options to secure a business loan. Obtaining the funds is the ultimate goal; however, securing those funds at a favorable interest rate can be equally impactful. The most important factor considered in securing any business loan is your overall credit rating. The Phenix Group credit repair company can help restore your credit scores in the shortest possible time, so you can secure your business financing. TPG, a reputable credit repair company, has built relationships with a plethora of business finance lenders to help with all of your business financing needs. Schedule a free credit analysis today to learn more about the credit plans available to you and your business.
Home/Auto Refinancing
Sometimes we are forced into a loan with significantly higher interest rates. Those rates do not have to be a life sentence, fortunately. Home and Auto refinancing are often able to be obtained after successful completion of our credit repair program. Allowing you to not only obtain lower interest rates but to ultimately substantially lower your debt to income ratio (DTI) in the process. Schedule your free credit analysis today to see how we can help you.
Just Because
It’s no secret, credit repair as it relates to home buying is our jam; but that doesn’t mean we can’t help the everyday consumer improve their credit score, too. Even if you may not currently be in any other category listed above, your credit is no less important. Honestly, it is much less stressful to have time to prep for whatever your goal is, instead of needing help yesterday. No matter the goal, our credit repair services can help with a custom plan for an overall financial clean up, as well.
About Us and Credit Repair Dothan
The Phenix Group
When you partner with The Phenix Group, a legally compliant Chicago credit restoration company, boosting your credit score is a simple, achievable goal. By first obtaining your credit reports from the three main reporting agencies, Equifax, Experian, and TransUnion, our credit-savvy analysts are able to identify any inaccuracies that are on your report. From having your personal information listed incorrectly to lender reporting errors, The Phenix Group and our expert attorneys, who are skilled in consumer law, will work on your behalf to have any unfair or incorrect items taken off of your credit report. We dedicate the care and respect each of our clients deserve towards understanding the factors responsible for your poor credit score, including your financial challenges, goals, and how quickly you need to improve your credit standing. We custom-build an action plan that specifically tackles your credit repair needs so you can finally lower those astronomical interest rates, purchase the house of your dreams, or buy that new car you’ve been pining for. We are so passionate about improving lifestyles, that once we increase your credit score, our credit services will give you the tools needed to set up your financial future for success.
How We Offer Our Credit Repair Service
- Step 1: Free Consultation
- Step 2: Individualized Plan of Action
- Step 3: Attorney Engagement-if necessary
- Step 4: Credit Ready
Don’t Trust Us? Trust Them!
Client Success Story
Meet our Former Client,
Vincenzo
Credit Score: 794
I can honestly say, I had a new pep in my step that day. I felt like a new man!
Meet our Former Client,
Jimmy
Credit Score: 761
I was able to stop worrying about if we were going to get our dream home when we got the final approval! They took a ton of bricks off the top of us. We could breathe.
Chicago Credit Repair
Working on credit, in a City near you
By leveraging an independent law firm and consumer protection laws, The Phenix group works to challenge and correct outdated or erroneous information on your credit report. Our Chicago credit repair services provide personalized and timely support, highly knowledgeable in Illinois debt collection laws, employing specialized dispute tactics to get bureaus and creditors to acknowledge inaccuracies, ultimately strengthening your credit score. Although creditors profit from poor credit reports, laws like the Fair Credit Reporting Act were enacted to protect consumers like you.
Bad credit can be scary, but it shouldn’t define who you are. The Phenix Group is passionate about liberating people from the fallout and repercussions of carrying around a poor credit score. Whether you have a few small issues or are in need of extensive credit repair, Chicago repair services can help. We help with charge offs, repossessions, debt settlement, dispute code removal, and more, all designed to help you reclaim your Chicago lifestyle, land a new employment opportunity, and finally move into that new home you deserve. We provide ethical and professional credit repair solutions that use regulation and laws to shield you from having to live in a never-ending nightmare of financial hardship. At the Phenix group, we are dedicated to helping you live a headache-free life and achieve your credit repair goals.
Frequently Asked Questions
Can credit repair organizations help people with NO credit?
We encourage consumers to get credit and financial education! The more information you have, the better equipped you are to improve your credit history. If our credit repair services are offered this will be part of the analysts’ credit recovery plan. If the individual simply has no credit on their report, we are more than happy to explain how to establish, maintain, and grow your credit score. The credit repair industry can be difficult to navigate, and our services are here to help you through every step of improving your score to help you reach your personal finance goals no matter how bad your credit profile is. Credit companies can help consumers understand everything from credit utilization scores and loans to report dispute and credit improvement. Our credit experts can help you understand a variety of topics such as how to navigate your loans, credit cards, money management, and more.
Should I get a personal loan to help build payment history and repair my credit?
Unfortunately, opening short term personal loans can have a negative effect on credit and your scores.Short term loans are typically not opened long enough to be effective and aren’t always a good financial investment for your personal credit. Loans can also give the impression that you had to borrow money to get by when you just wanted to build credit and improve your score. Your credit report and credit bureaus don’t know the difference, so any potential pros don’t outweigh the cons of short-term personal loans.
Is it possible to remove a late payment to fix credit?
Late payments on your home mortgage loan, credit cards, debt payment, or life insurance may show up as negative items on your credit report and cause bad credit. Depending on the circumstances behind the late debt payment and fees, it may be possible to have the payment history corrected or removed from your credit report. You can talk to one of our credit specialists about your credit report and learn about the repair options available.
What will it cost to repair my credit?
Most of our clients see results on their credit score in as little as 60 days from when they start using the best credit repair services, however, the credit program can take up to 6-12 months to complete and to see a difference on your report. Remember, this isn’t just credit repair, and everyone’s situation and personal finance goals are unique. We offer a free credit analysis to determine program candidacy and the estimated credit program duration.
How long does it take to repair credit?
Everyone’s credit is different, so the time frames for fixing bad credit and your credit accounts can vary. After we analyze the reports and develop our game plan during your free credit consultation, we can determine how long it may take to repair your credit and improve your score. The time frame will vary based on your financial history, credit cards, loans, mortgage, debt, and other financial factors.
What Is Credit Repair?
Credit repair is an in-depth process of improving your credit file by the removal of erroneous, outdated, fraudulent, and unverifiable information from your report. Repair companies help clients remove negative items from credit reports. The goal of credit services is to increase your credit score so you can qualify for better interest rates on loans, credit cards, and other forms of credit. The credit repair process usually involves a combination of tools, including credit counseling, debt settlement, credit monitoring and account dispute resolution. Sometimes, repairing credit can also involve personal bankruptcy. If you feel overwhelmed by the credit repair process, The Phenix Group can help–reach out today to schedule a credit repair consultation, and we’ll do the heavy lifting for you to help get your credit back in good shape.
How Much Does it Cost to Repair Credit?
Cost of legitimate credit repair is based on a number of factors. Every person’s credit file is unique to them and so should the cost of their individualized credit repair action plan. The credit repair cost will vary based on the company and the credit repair program available. The Phenix Group does not do up front pricing for our credit support, nor should you settle for any credit repair specialist that does charge an upfront payment fee for their credit services. We do not provide a cookie cutter credit program; therefore, we can’t give a definitive work fee until a proper analysis has been conducted and an action plan written out by a credit repair analyst. Thankfully, we offer the credit analysis and consultation free of charge, so you won’t be charged a fee upfront. Once we provide a free evaluation, we can give you an initial cost of your repair plan. When working with credit experts, you will also want to ensure that you are working with a reputable company so that you avoid payment scams.
How can I repair my credit myself?
To get started on repairing credit, you need to understand how credit works, the information on your credit reports, what makes up your credit score, and continuously monitor for report changes. If you have inaccuracies on your credit reports, you should take immediate action to rectify your credit and dispute the information on the report. 35% of your credit score is based on payment history. One of the main ways to repair credit is to immediately start and continue to make on time payments to your current credit obligations. If you have several credit cards, be sure to make each personal loan payment on time.
How Do I Compare Credit Repair Companies?
If you’re comparing credit repair companies, here are three important factors you should keep in mind as you do your credit repair review: Cost: How much does the company charge for its credit services? Be sure to compare apples to apples when looking at payment pricing for credit services. Some credit companies will charge per month while others may charge a one-time fee, and you might want to choose the most economical credit company you find. Some credit companies also offer customized packages of their credit services and will charge a setup fee. Services: What services does the company offer? You’ll want to look for companies that offer a wide range of services and features, including a free consultation, mobile app, accessible customer service, credit counseling, dispute resolution, financial education, and money-back guarantee. Reputation: What is the company’s reputation? Be sure to read online reviews and check the company’s rating with the Better Business Bureau (BBB). Companies with a good reputation are more likely to offer better plans to repair your bad credit and improve your reports. Choosing a reputable credit service with good online reviews will also help you avoid scams.
How Long Can Repossession Stay on a Credit Report?
A repossession will stay on your credit report for up to seven years, which means that all the late payments on a loan or credit card, as well as the repossession, will show up on your credit report. The repossession itself will also lower your credit score, making it harder to get approved for loans and credit cards in the future. Fortunately, you’ll have a chance to undo the credit report damage after a repossession, as the sale of a repossessed asset is often not enough to balance the amount you owe to a lender. In this case, your lender could possibly negotiate a new repayment plan with you so you can pay off the balance and restore your credit. If you’re able to make all your payments on time and keep your account in good standing, the repossession will eventually fall off your credit report.
What do you do differently than other credit repair companies?
As we are true credit experts, we understand how to implement strategies to address accounts and build positive credit reports for our consumers. Our credit consultants give one on one, expert advice to get past credit issues and possibly improve your bad credit score. With our repair process, we provide more than the typical bureau level dispute for credit issues on your report. This includes services such as engaging original creditors, finance companies, collection agencies, and bureaus throughout our program with a goal to hold them accountable to consumer or federal laws that relate to credit reporting, collection, and consumer communication. Many credit repair companies only provide disputes to the credit bureaus or generic ‘validation letters’ to creditors. Where some credit companies will be selective on what credit score issues to address and limit it to a few accounts at a time, we are aggressively addressing everything on your report from the start of the credit repair program. We will evaluate the credit history to create the best plan for improving your personal financial situation and your score.
Do you do debt consolidation?
We are not a debt consolidation agency; we are a credit repair company. While some credit repair agencies may handle debt consolidation, our company focuses on credit services rather than debt consolidation. Paying debts off, credit cards, or other debts, on your credit report does NOT guarantee the account will then be deleted or removed from your credit history. Remember, credit and debt are two very separate things. Once we have had a chance to conduct a free credit score and credit analysis, we can start to strategically determine which accounts, if any, can be paid and negotiate how to get the debt account deleted permanently so that it doesn’t have a negative impact on your score or credit reports.
What accounts do I need to pay off to raise my credit scores and should I pay off collections?
Understanding what accounts to pay largely depends on the credit goal in mind. Many different factors such as the date of last account activity, statute of limitations, type of account, cost and fees, and how the debt is calculated against debt ratios (such as your credit utilization score) and balance to limit ratios must be considered. We recommend requesting a free credit analysis to determine the best course of action to improve your score. Our credit repair specialists will create recommended credit repair actions that can help you get your score back on track with your personal financial goals.
Why are my scores different on Credit Karma?
Credit Karma software uses The Vantage 3.0 scoring model for their credit reports as most credit bureaus utilize traditional FICO Score tools specific to the type of financing. While the software can give you some information about your financial situation, the credit score used by companies, credit bureaus, and financial institutions is calculated differently. Credit bureaus have very specific formulas for calculating credit scores.
Can you connect me to a realtor or lender?
Although the majority of our credit clients are referred to our services by Real Estate Agents and Loan Originators, we are deeply connected to a vast network of companies and professionals all across the country. We would be happy to make the connection with our partners for you. Typically, any business we refer you to will be our Preferred Partner and have been vetted by us. We trust them to provide the highest level of service complimentary to the service The Phenix Group provides to our consumers.
What Do Credit Repair Companies Do?
Simply put, credit repair companies repair credit; although, a good credit repair company will provide more than just that. Things like credit education, advice on opening and closing personal credit accounts, information on loans, coaching on how to attain and maintain great credit are benefits of working with the best credit repair organizations. You can use credit repair organizations that offer free credit report evaluations that can help you get back on track with your credit report goals.
Is paying someone to fix your credit worth it?
Credit repair is something all consumers can do themselves. However, in our experience, most individuals who are not savvy with consumer and credit laws typically do not have much success in their endeavors to repair their personal credit. It is tedious, time consuming, confusing, and overall frustrating to repair your credit. This is where a credit repair service steps up to help. We have had to help numerous individuals repair damage they caused by disputing their own credit woes with the credit bureau. Engaging with a legitimate credit repair company will save you time and the headache of dealing with bad credit on your own. Working with a professional credit service can boost your confidence and help fix your credit score.
What is the fastest way to repair credit?
The fastest way to repair credit is to hire a credit professional who gives you a custom action plan for your current credit situation. Depending on your current score and credit circumstances, fixing your credit this is still a lengthy process due to the allotted response times given under law to creditors and credit companies. The most important factors in improving your score and credit reports are maintaining on time payments with all your current credit obligations, such as credit cards, loans, and other credit items, and not allowing any new collections to report on your credit file.
How to Maintain Good Credit After It’s Repaired
There are a few things you can do to make sure your credit stays in good shape after it’s been repaired. First, be sure to make all your account and loan payments on time–this includes any new loans, credit cards, or lines of credit you take out after your credit has been repaired. Most systems now offer automatic card or loan payments or you can set up alerts each month to remind you. Second, keep your credit card balances low–use less than 30% (ideally 10%) of your credit limit on any credit cards you have. Third, don’t close old credit cards. Even if you don’t use the credit card, having a longer credit history can help boost your score and improve your credit report card. Finally, check your credit report regularly to make sure there are no payment or account errors that you need to dispute; you can get a free copy of your credit report from each of the three major credit bureaus every year. The free report from the credit bureaus is a credit repair guide to help you evaluate where you are at and identify areas of improvement. Of course, these are all things you should do from the start to avoid a low credit score, but if your score has already been damaged by poor financial practices, it’s important to follow these credit tips even more diligently. You can also get a free credit consultation and advice from credit services on how to better manage your money and maintain a good credit score.