Overview
Park View Credit is a credit repair service based in Los Angeles, CA. The business started in 2015, and works on an advanced fee model to provide credit repair services to individuals who have inaccurate negative items on their credit report resulting from bankruptcy, tax liens, late or missed payments, and identity theft.
Pros
One of the best things about Park View Credit is some of their prices. Park View differs from other credit repair companies in that instead of paying a monthly fee, Park View clients sign a contract that states how long they’ll work with the credit repair firm, and agree to a total price over the course of that contract. This total price can be from $200-$800. Given that the average contract length is six months, customers can wind up paying as little as $33 a month, depending on what they need from the credit service. Park View also has one of the best spousal discounts that we found, offering a 40% deal for each partner.
Cons
That being said, one of the worst things about Park View Credit is their pricing. We aren’t huge fans of the advance fee model for credit repair services pricing, and if customers need extensive work and the six month contract comes out to $800, then they will be paying $133 per month, which is one of the highest totals out of the companies we looked at. Park View also has a one-time startup fee of about $60, and they charge a fee to pull your credit reports.
Another huge problem facing Park View Credit is the fact that they are currently under investigation and subject to a complaint filed by the Consumer Financial Protection Bureau. The complaint alleges that Park View Credit used misleading advertising to draw customers to their website, and then charged illegal advance fees. There are strict laws governing advance fees for credit repair companies, and the CFPB complaint argues that the fees Park View Credit charged customers for things like obtaining credit reports in an improper way.
Additionally, Park View Credit has had some customer service issues. A number of complaints stated that the company never followed up with requests for information, and that they would not allow individuals to cancel contracts.
Verdict
Stay away. Any company under investigation by the CFPB is going through a challenging time at the very least, and at the worst could be guilty of exploiting their customers.
