Dovly is an online credit repair solution that uses a fully automated algorithm to help its clients dispute credit report errors. The company was launched in 2018, and it is the first of its kind in the industry.
During its first three years of its existence, Dovly claims that it has raised clients’ credit scores by an average of 54 points. The company seeks to use its low overhead to provide cheaper credit repair than the most inexpensive alternative on the market.
Here is a closer look at what Dovly offers, what it does not provide, and how much it costs for the service.
Table of Contents
Dovly provides one main service: it helps clients dispute errors and misleading information in their credit reports. Depending on which plan you purchase, you can either dispute errors on your TransUnion credit report or the reports from all three credit bureaus.
Some of the areas that the company covers include tax liens, late payments, outdated or mistaken addresses, foreclosures, and bankruptcies.
- According to Dovly, 92% of the errors that the algorithm locates in credit reports get resolved, with clients seeing a subsequent increase in their credit scores.
- The average increase in credit scores since its inception in 2018 has been 54 points (within a six-month period).
- The company also offers access to credit reports from all three credit bureaus. They do not need the client to provide their login credentials either, as they have direct access to perform soft inquiries.
- Dovly’s main product is a fullyautomated and scientificallyformulated algorithm that locates and defines errors on credit reports. It customizes disputes and optimizes the data according to a client’s specific needs.
- Dovly also offers daily credit monitoring with alerts when there are changes to your credit score.
- Users have 24/7 access to the system from a computer or mobile device. The system is self-serve, though customer service representatives are available for those who would like to interact with a person.
You need to sign up through the Dovly platform to access these services.
How Dovly Works
Dovly uses an automated process:
- First, you sign up on the platform and ask for a credit inquiry.
- The system makes a soft inquiry of your credit report, so your score will not be negatively impacted by a hard query.
- You will get a list of all the negative items on your credit report, as well as the option to view more details or dispute the mistakes.
- Once you’ve picked the items to dispute, the algorithm kicks into action.
- Dovly begins disputing items with the credit bureaus and questions details such as late payments, charge-offs, public records, and liens.
- As long as you are signed up for the service, Dovly continues to monitor your credit report, watching out for any error that might pop up.
- It continues to alert customers about these errors and offers to initiate disputes.
When signing up on the platform, you have to choose a plan and pay for the first month of service.
How Much Does Dovly Cost?
Dovly offers two plans: Starter and Plus. Clients can pick whichever one best suits their specific needs. The costs range from $14.99 to $49.99 per month.
Dovly does not have a free plan or a free trial.
Starter Plan Features
The Starter plan is $14.99 per month and offers the following features:
- Dovly will perform a soft inquiry of your credit report with TransUnion. This allows you to see all the negative items listed with this credit bureau and pick which ones to dispute.
- Although the soft inquiry only covers TransUnion, any disputes you select will likely be registered with all three credit bureaus.
- All of your data is protected by Transport Layer Security (TLS) encryption, which provides privacy assurances and counteracts identity theft.
- You get 24/7 access to services and customer support via computer and mobile app.
The Starter plan will be sufficient for some customers, but others may be seeking additional services. Dovly offers another option with enhanced features for those who want more.
Plus Plan Features
The Plus plan costs $49.99 per month and offers the following features:
- Dovly will perform a soft inquiry with all three credit bureaus. You can see negative items listed on the three credit reports and compare them with one another.
- Just like with the Starter plan, any disputes you select will be registered with all three credit reports.
- The Plus plan also includes constant credit monitoring. The system will retrieve your credit report regularly, even after the initial disputes get resolved.
- Dovly will continue to alert you of any new errors and provide an avenue for disputing them with the credit bureaus.
- The Plus plan provides ongoing identity theft monitoring. You will receive alerts if there is any unusual activity that could signal identity theft.
- Dovly Plus includes TLS protection and 24/7 access to customer service, just like the Starter plan.
Customers who want to keep an eye on their credit score indefinitely and protect their identity may find that the Plus plan provides good value
Pros of Using Dovly
Dovly offers some important advantages.
- The whole service is automated, which makes it much easier and quicker to use than other options on the market.
- The system gives you 24/7 access to your credit repair progress as well as new errors that might appear on your credit report. You can see your information on mobile or a computer.
- Dovly has partnered with respected financial tech companies, including Chime, Credit Sesame, and MoneyLion.
- Dovly is cheaper than the alternatives. Because their system is automated, they can provide cheaper membership options compared to full-service credit repair companies.
For those who can benefit from these advantages, Dovly is a viable credit repair tool.
Cons of Using Dovly
There are also some drawbacks to be aware of before purchasing Dovly’s services.
- It is not available nationwide. While Dovly is available in most states, it does not offer its services to residents of Georgia, Idaho, Kansas, Maine, and Minnesota.
- Dovly only offers dispute services for credit report errors. It does not negotiate with creditors on behalf of clients. Full service credit repair companies often communicate with lenders on your behalf.
- Dovly does not offer clients financial education or roadmaps to improve their financial situation. Some other companies in this space do offer general financial help as well as credit repair.
If these drawbacks conflict with your credit repair needs, another option may be more suitable for you.
Should You Use Dovly?
Dovly is a convenient solution if you want to find and dispute errors on your credit report quickly. The automated algorithm is effective, and the company guarantees that it will get most of the errors removed from your credit report.
If you are close to the next level on the FICO credit score scale, this step could give you the necessary boost.
Furthermore, the constant credit and identity theft monitoring on the Plus plan provides ongoing protection for a competitive cost.
However, if you need more personalized services, like financial education, a debt consolidation plan, and a company to negotiate with your creditors on your behalf, Dovly will not be the best solution.
Overall, Dovly is an affordable starter option as a credit repair company to get disputes off your record and see a modest (but very quick) increase in your credit score. If you want a complete debt reduction and credit score plan, you will likely need to combine this service with something else.
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