How CreditGUARD Credit Repair Works

Andrew Reyes
A person smiles while reading a financial document in front of their computer.

Headquartered in Boca Raton, Florida, CreditGUARD specializes in non-profit credit counseling and personal budgeting services across all 50 states.

The company’s certified credit counselors and extensive educational resources also help customers manage their credit, money, and debt using a three-step approach:

  1. Consolidating your debts into one lower bill;
  2. Reducing the amount you owe and the time it will take to pay it off;
  3. Creating a budget that helps you achieve financial freedom.

Then, CreditGUARD arms you with best practices for staying out of debt.

Table of Contents

CreditGUARD’s Debt Management Process

CreditGUARD’s debt management process begins with one of their counselors taking an in-depth look into your unsecured debts (e.g., credit cards, medical bills, and student and personal loans). Then, they’ll recommend which ones to pay off first.

Once they assess your financial situation, CreditGUARD’s certified counselors will reach out to your creditors to potentially lower your interest rates and monthly payments by as much as 50%. They’ll then set you up with an actionable, balanced budget that works.

Next, CreditGUARD makes managing and paying your debts more convenient by taking your unsecured debt and rolling it into one monthly payment. And the company accomplishes all of this without requiring you to take out additional loans or agreeing to other services.

Lastly, CreditGUARD provides ongoing support and financial education to teach you the skills that can help you better manage your finances and keep you debt-free.

How Much Does CreditGUARD Cost?

When you’re first signing up for this debt management program, CreditGUARD charges new clients an initial setup fee covering your debt management program’s administrative costs. Then, they charge a monthly fee of 1.2% of your total debt balance, or $55 per month, whichever is the lowest.

For example, if you have debt totaling $30,000, CreditGUARD will only charge you $55 per month, even though 1.2% of your total balance is $360.

Pros of Using CreditGUARD Credit Repair

In an industry with new companies popping up all the time, CreditGUARD of America has provided its services since 1991. They’re also one of the few credit repair companies that offer financial counseling services, which can help you stay on track once the process is complete.

If you decide to sign up, CreditGUARD offers a straightforward pricing model that’s affordable and won’t exceed $55 per month, which is probably why they have plenty of positive online customer feedback.

  • In business for more than 25 years;
  • Provides both credit repair and credit counseling services;
  • Your fee won’t exceed a reasonable $55 per month;
  • Easy pricing model;
  • Many positive online customer reviews.

Furthermore, CreditGUARD’s unique system allows you to consolidate your debt into a single monthly payment without you needing to take out a loan.

Cons of Using CreditGUARD

Like any credit repair company, CreditGUARD can’t guarantee that you’ll reduce your interest rates and monthly payments by as much as 50%, or at all.

  • No guarantees that your credit payments or overall financial situation will improve;
  • Several common complaints among online customer reviews.

With this said, common online complaints about the company reference less-than-expected results and refunds related to the service. The company responded with solutions to each complaint.

Should You Use CreditGUARD Credit Repair?

In a nutshell, there’s a lot of aspects to like about CreditGUARD credit repair. They’re one of the longest-running debt relief companies in the industry, their services come with reasonable prices, and they offer both credit repair and credit counseling services to help you get out of debt and remain that way.

So if you’re looking for a reputable company to take care of your credit disputes at a  cost that won’t break the bank, it would be difficult to go wrong with CreditGUARD.

Remember, though, that credit repair companies like CreditGUARD have limits as to what they can do for you. For example, they can help you identify errors on your credit report, send dispute letters to have the mistakes removed, and provide general credit building advice.

However, these companies cannot remove legitimate marks on your credit, even if they’re negative. And in some instances, such as collections, these marks can remain on your credit report for up to seven years.

Check out the 5 best credit repair companies in 2021.

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