My Credit Group Review

My Credit Group Inc. is based in San Marcos, California, and has been in business since 2000. My Credit Group is a corporation, incorporated in California in 2006. My Credit Group has been an Accredited Business with the Better Business Bureau since 2011 and has an A+ BBB rating.

My Credit Group describes itself as a well rounded credit repair firm whose services are recommended by leading financial institutions, mortgage companies and the U.S. Department of Defense for military personnel. As a well rounded credit repair company, services offered by My Credit Group go beyond dispute letters to include debt settlement, negotiations with collection companies and help in reestablishing new credit lines.

As with most credit repair firms, My Credit Group has its own proprietary credit repair program and relies on the experience and expertise of its management team and employees to provide consumers with the tools needed to best manage their finances. The company vows to put people before profit and focuses on being the best, rather than the largest credit repair company in the industry.

My Credit Group Organization

Headquartered in San Marcos, My Credit Group has a nine member management team headed by CEO Mangolein Koza. According to the BBB, My Credit Group employs a staff of 34. Many employees are Fair Credit Reporting Act certified. My Credit Group is licensed, bonded, insured and registered with the California Attorney General’s Office. The company is a member of the National Association of Mortgage Brokers and the California Association of Mortgage Brokers.

Exactly What Do They Do?

My Credit Group will:

1. develop a credit repair plan
2. work on your behalf to challenge questionable items on your credit report
3. conduct debt settlement activities on accurate collections
4. reestablish new credit

One Level of Service

The four components listed above fall under My Credit Group’s Fresh Start Credit Repair program. Additional services of home loans, auto financing, credit monitoring, debt services and identification protection services may be part of the monthly services depending on a client’s situation.
The process includes:

• Personal Credit Coaching where My Credit Group assigns you a personal credit coach who reviews your credit report, advises you on what action to take, prioritizes addressing negative items, helps you build and optimize positive credit and monitors your progress in carrying out the recommendations.

• Credit Repair Services that include one-on-one personal credit coaching, disputes with original creditors and credit bureaus, pay-for-delete negotiations with collection agencies to remove outstanding debts, assistance with reestablishing positive credit, and home and auto loan approval preparation efforts.

• Debt Settlement Services for any accurate overdue debt that cannot be removed through credit repair services. My Credit Group works with your creditors to arrange affordable monthly payments, goodwill negotiations and pay for deletions agreements for outstanding debts.

• Re-Establish New Positive Credit by evaluating whether new credit will improve your credit score and teaching you how best to manage new lines of credit.

My Credit Group services are provided under a subscription-type plan. You pay a one-time $99 per individual After Work Fee once My Credit Group sets up your account and prepares the first round of credit bureau, creditor, or collection agency correspondences. Then, a monthly rate of $69 is charged when My Credit Group sends the first round of letters to the applicable recipients. The monthly rate is charged for six months, at which time the service can be renewed on a month to month basis for another six months.

No Guarantees

The My Credit Group website defines the terms and conditions of its services. The company emphasizes that it does not guarantee that the services it performs will achieve specific results for clients or that clients’ credit reports or credit scores will be affected by the services My Credit Group provides. My Credit Group simply offers consumers an avenue for getting help in conducting activities aimed at improving their credit, debt and overall finances.

Refund Policy

My Credit Group’s refund policy clearly states that clients not satisfied with the services provided may request a complete review of their account. However, My Credit Group points out that it is your responsibility to perform the recommendations provided by My Credit Group, maintain correspondence between all parties involved and meet financial obligations. With regards to the terms and conditions of the My Credit Group refund policy, the following statement was taken verbatim from the My Credit Group website: “If it is determined that My Credit Group did not fulfill its obligations per the terms and agreement of any given month, the Client will be entitled to a refund for work not completed during the defined period of time.”