Are you in the process of your credit restoration? Remember, it’s not only you who suffers from bad credit reports, but there are numerous out there. While trying to fix your credit, you may tend to make some mistakes. This is the article for the beginners who are more likely to make some mistakes in the process. Read, understand, and avoid them in your credit repair journey…
Don’t Talk to Debt Collectors:
You might have been harassed by your debt collectors. But, we would ask you not to talk to your debt collectors directly. Ask them to send it to you in writing. This is the first step you need to be in doing while trying to fix your credit.
Agree only when it is written:
This is the mere continuation of the above point. When your debt collector, don’t try to make any agreements. Remember, all your correspondence should be in a written format. In this, we would advise you to make use of Snail mail because you can send letters through registered mail with delivery reports.
Don’t go for Credit Card Closing:
This is the common mistake everyone tends to do. You might be thinking that closing the accounts would improve your credit score. But, it’s not true. Most often, closing these accounts would actually affect your credit score even further. The best way is to keep these accounts and try to remove the late payments from your report.
Don’t apply for Credit Cards:
I am sure that you will be aware of this, but still, we want to mention it here. With a bad credit, you won’t get approval for the major credit cards. Also, when you are applying it would result in “inquiry” entry and will be recorded on your report. Remember, one or more such entries would affect your credit score and so, just don’t go for it.
Now, you should have understood the things you must not do while trying to improve your credit. If you need a professional help in this regard, feel free to contact us.
It’s not only you who has been affected by a less-than-ideal credit reports. We have good news, you do not need to live the rest of your life with these negative trade-lines on your credit reports. You can very well improve your credit scores by making timely payments and by handling your debts responsibly.
At the same time, some of you do not have time to wait for 7 to 10 years to fix your credit. You may have to get a home or mortgage loan and your poor credit scores might be preventing you from getting them. During such events, you may have to think about credit repair services. While some of your credit issues can be handled by yourself, some of the more complex issues would need the expert help. When do we need to call a lawyer? Let’s know here…
Do-it-Yourself Credit Fix:
As we mentioned earlier, there are certain things you can do by yourself. As such, you can file a dispute with the following major credit bureaus:
In the meantime, you can continue improving your score by paying bills on time, paying credit card debts, and avoiding applying for new credit lines.
When to Seek Professionals?
In some severe circumstances, your negative credit report could result in higher interest rates and sometimes, it could even prevent you from getting loan approvals. If you need an urgent credit repair service, you might consider working with professionals. Working with credit repair companies is the most effective way to do this. We could help you with even the most complex and difficult credit problems including:
As most of you might be aware, a credit score of 750 to 800 would mean that you have an excellent credit history. This would certainly mean that you are paying your bills at the right time and are capable of handling various types of credit responsibilities very well. Yes, an excellent credit score would make you eligible for loans. So, when you are thinking to skip one or two credit card payments, rethink! And, if you already have a bad credit, try to fix your credit as early as possible. Now, know the other amazing benefits of maintaining an excellent credit history here…
Higher Limits for Credit Card:
Having an outstanding credit score would provide you with an improved borrowing capacity. This is because the creditors will view as a person who attends to his/her bills on time and is, therefore, a responsible credit card holder. If you already have a credit card and if your score is higher, then you can request them to increase the credit card limit.
More Mortgage Opportunities:
When your credit history is clean, more mortgage companies and creditors will come after you to give an attractive rate for your home loans. Remember, the individuals with higher credit score are the ideal customers for these companies. Not only this but also getting refinancing for your home or property will also be easy when you have a higher credit score.
Vacations and Rentals:
In the midst of your financial stress, planning for a vacation would be really painful. If you talk to any vacation rental agency and show off that your credit score is high, they are more likely to deduct the fees and will decrease the rates depending upon your credit history.
Thus, with an excellent credit history, you would get the ability to negotiate confidently. If you are looking for a free consultation on your credit history and/or repair services, feel free to contact us.
If you think about credit repair services, you are more likely to think it to be a scam. But, it’s not unnatural. The term “credit repair” has certainly got a bad name and you are not alone in the crowd who think it to be a scam.
So, why do people think of it as a scam? It’s because of the companies who are taking advantage of the customers who are not aware of where to start the credit repair process. The chances of fraudulence are higher among the people who are at the most vulnerable position in terms of their credit scores.
Now, let’s come to answering the question whether credit repair is legit or scam. To put it simply, we can say that this depends on the company which you choose to clean up your credit report. Today, you can find several companies claiming to offer the top-rated credit repair services. But, not all the companies are really offering the best services. Look at the following ways by which you can determine whether it is legit or scam: