Learn The Ways A Credit Repair Business Can Help Your Score
There are unfortunately immoral or unscrupulous credit repair businesses that lure customers in with guarantees of higher credit scores and perfect reports. If you are in the market for a business to repair your credit, then you need to be very mindful of just how the credit repair business says it uses. Untrustworthy businesses typically claim powerful results but are going to be very vague on the particulars.
So, how to the trustworthy establishments get their work done? Keep reading to learn four particular ways that CreditRepair.com utilizes to get your score up:
We Run An Analysis Of Your Credit Reporting
A credit repair business that you can trust goes over your personal credit report thoroughly, but only after you give your permission. This analysis seeks to locate and identify specific pieces of information that are possibly in error, not fair to you, or just undocumented. Once a full list of all possible inconsistencies is comprised, the credit repair business starts taking corrective actions.
Filing Disputes To Remove Negative Information
Once a credit repair business identifies all the possible erroneous entries or data sitting in your credit file, then they can either submit a request to get additional information or just flat out dispute the particular item. The credit repair business works in conjunction with credit report bureaus as well as other businesses the personally submitted questionable information about you.
Some certain negative items on credit reports can get removed if they are either undocumented or not correct. Here are a few examples:
Debts Eight Years Old Or More: Debts that are over seven years old are not allowed to be used in credit score calculations.
Information That Is Not Correct: Any false information or something reported erroneously are often things like nonexistent debts or late payments that never actually happened.
Fraudulent Data: Some information in your credit report might be a result of identity theft or fraud.
Information That Is Not Documented: When any company submits data or information to a person’s credit report, there must be appropriate documentation corroborating it. If there is no proof, undocumented items are removable.
This particular step does not happen quickly, but when it does, the impact on your score is likely to be highly positive.
Give You Guidance
Your best credit repair business is also going to identify the information in your credit report that is correct. That information can be used as actionable intelligence that helps raise your credit score.
A reputable credit repair business is going to give you tools and personalized advice on how to keep your credit score healthy. You will get help reaching your personal credit objectives in various forms, such as forums, newsletters, online meters, and educational materials.
For example, consider the possibility that you might be using too much balance on a particular credit card. We might tell you that paying that balance down is a good objective, and the eventual result could be an improvement in your credit numbers.
CreditRepair.com uses alerts and advance reports to keep up with real-time changes in your credit score. We let our clients know when a substantial change happens, and then give them the tools they need to keep better track of how they are doing and what direction they are going in.
By doing this, our clients can see with their own eyes the success they are working towards. Our dashboards and apps also serve as a barometer or compass for when something is going awry. That way, our clients can take prompt action to correct things so that their credit score can stay high or on track for greener pastures.
These are the methodologies of reputable credit repair companies who stick with tactics that are tried, true, and trusted to get your credit score accurate and moving higher. This helps create a stronger financial future for you and improves your potential to afford the things you want in life.
My Credit Score Isn’t Getting Better. Why Might This Be Happening?
The process of repairing your credit, even with professional assistance, takes time, discipline, and motivation. However, what occurs when you put these qualities into play but they don’t pay off? It is possible for credit improvement tactics to actually not deliver results, and when that happens, you’re going to be left scratching your head wondering what went wrong. Many situations prove to be far more complex than just doing the right or wrong thing. Keep reading to learn some common situations where your credit score might not be getting better, as knowing how to deal with each can get back on track.
Updates Haven’t Happened To Your Credit Report Yet
Changes to your credit report are not immediate. When a change to a credit report is made, your creditor might take up to 30 days to bring their internal records up to date. There can be another 30 days for that change to get reported to a bureau, which then might take another 30 days to update your report. Internal business practices and protocols of multiple entities can slow down information from hitting your report for as long as 90 days then, but if you don’t see a change after those three months, contact creditors directly. Their information might be out of date, or they might need to resend the new information again to the bureaus.
Is Your Budget Hypothetical?
When you join up with us, you are probably going to download one of our free budget templates and then create a spending plan, but creating a budget and keeping to it are very different things. Executing a plan or just transitioning into one is a difficult task. For example, you might have set an intention to cut down on credit card bills by $400 a month, but if you had also planned on cutting back on utilities and discretionary spending and didn’t, then your budget is already out of kilter. Existing balances accrue interest, and your personal creditworthiness slips more into the abyss. Take a fresh look at your situation, start small, and then build.
One Credit Report Has Your Total Attention
There are multiple credit bureaus, and they each have their own way of gathering, analyzing, and scoring credit information. On top of this, many lenders only report to one bureau and not the others. That might make things less complicated for them, but it does cause anomalies between your Equifax, TransUnion, and Experian reports. You are entitled to a free annual copy of all three, so order them every year to find and highlight differences and inconsistencies. What you turn up might improve your score pretty fast.