Tempe, AZ -- (SBWIRE) -- 12/14/2011 -- In a study conducted by the Public Interest Research Group, over 70 percent of credit files have some type of error. The survey found that 29% of the credit reports contained “serious errors that could clearly result in the denial of credit or other benefits.” For consumers wishing to borrow money for a new home, car or other big purchase, these inaccuracies can be extremely problematic and cause them to be denied the loan they need and deserve.
There is general consensus among economists that consumer confidence is an important engine in our rebounding economy. If the majority of consumers have incorrectly low credit report ratings, it will be difficult for them to spend to the same degree that they did before the recession given the higher cost of borrowing. The credit repair industry contends that it is one of the most important drivers to getting the economy back on track—second only to employment opportunity.
A new website was recently launched to help people who are trying to raise their credit score. CreditRepairCompanies.com features a directory of legitimate credit repair companies. Up until now, there was no central location to compare and contrast all of the credit repair companies. “We believe that in order for people to enjoy financial security, they are going to need more than good jobs back; they are going to need good credit as well”, asserts Brad Hanks, VP, Consumer Relations. “We haven’t ever seen such widespread erosion of consumer credit scores.”
So far, the website includes reviews of 190 of the best credit repair companies, and more are being added every day. Before posting the credit repair companies reviews, an editor from CreditRepairCompanies.com manually vets each company to be sure they are not violating the law in the way that they advertise as well as giving consumers the information they need to make an informed decision. This type of in-depth service has never been attempted before.
“We base our reviews on a thorough study of the website,” Mr. Hanks further explained, adding that it will contact each of the best credit repair companies by phone to verify their services.
“Once we have completely vetted a company, we will also include their contact information and allow them to add a short information paragraph about themselves. If the company doesn’t have their contact information included we can’t put our full stamp of approval on their services.”
Because there are so many companies out there that claim to repair bad credit, the website is also relying on consumers to leave ratings, feedback, and comments on the companies that they have worked with in the past.
For consumers using the website is easy, simply browse through the information, reviews, and blog or search by location or company name. The home page regularly features an article pertaining to credit scores that can give consumers useful tips on how to clean up their credit and what things impact their scores the most.
CreditRepairCompanies.com is a directory website that provides third party informational listings about credit repair companies in your area. We provide a place where people can rate companies that they have worked with and leave customer feedback. Our purpose is to inform the public about credit repair and hold the industry to the highest standard. For more information, please visit http://www.creditrepaircompanies.com