Tag Archive: credit repair company

HOW TO IMPROVE YOUR CREDIT SCORE

Financial management has become an exceedingly tedious job with the advent of credit lines. Unfortunately, there is hardly any way around it. You have to adapt to the system or be buried under the mountain of debt that will accumulate faster than you can imagine.

You have to be very careful when dealing with credit cards because sometimes all it takes is a couple of hasty decisions at the wrong moment for your FICO score to dwindle excessively. This will make it difficult in the future to secure loans, get reasonable mortgages, have decent car insurance or any financial dealing with any reputable company.

These companies carefully scrutinize your credit score to know your financial history. They don’t just hand out loans to anyone. They assess the risks first and then make a careful decision. You have to be in their good books if you want to secure their trust.

WHAT IS A CREDIT REPORT?

The first step to improving your credit is to find the fault. You must know the actual reason for the deterioration. You are eligible to get one free copy of your credit report annually from any of the three credit reporting companies nationwide: Equifax, Experian, and TransUnion.

Now you can enlist the help of a San Jose credit repair agency such as the one at this link bluewatercredit.com/san-jose-credit-repair, or you can study the report yourself. A professional agency is better equipped to find any mistakes that may have been overlooked. Outdated items, redundant additions or anything that may be negatively impacting your credit.

WHAT CAN A CREDIT REPAIR COMPANY DO FOR YOU?

Thanks to the credit repair organization act, the company cannot charge you until the job is completed and they cannot falsely advertise any of their services.

The company is expected to draw up a contract for you that meticulously details the terms of your arrangement; the time it will take to finish the task, the amount you will be charged, the services they will provide, etc.

You also have a three-day window in which to withdraw from the deal without any penalty if you feel you don’t require their services anymore.

ERROR DISPUTES

If you do happen to stumble upon errors, we encourage you to challenge them. Some may shy away from the idea but know that the negative consequences of bad credit score will impact a lot in your future.

Carefully detail all the possible errors in your report and mail it to the credit reporting company. The company will get in touch with the information providing agency to figure out if your claims hold water. The reporting company has thirty days to investigate your claims. Failure to do so will allow you to challenge them in court.

CREDIT HISTORY

Leaving aside any potential errors, or possible identity theft,  legitimate elements will continue to affect your credit history for at least a decade.

Unfortunately, there is no quick fix for your credit. It’s a slow and steady game, but if you start today, you may still have a fighting chance. Instead of simply moving around credit, how about you start paying it back.

Pros and Cons of Hiring Credit Repair Company

It is rare to find people without debts. At this day, people living with a sort of debts. Car payments, mortgages, student loans, and credit card currently become a way of life. When someone cannot manage the debts well, it can cause bad credit records. You need to repair when the score is lessened. Increasing the score is important for your financial stability. There are many companies that offer service to fix the bad record. If you want to choose one of the reputable companies, you need to know the pros and cons. Asking help from the experts to improve your score will give you some advantages. But, it also provides disadvantages. These are the pros and cons.

Pros

There will be experts who will help you. The experts will do credit repair on a daily basis. You can get the report easily. You can ask the report and see the improvement. The experts own resources and experiences to perform their job effectively. The process can be faster and better than DIY. Their knowledge is specially designed to do this job. They meet many problems regarding the finance. They have solved many cases so they are highly regarded.

The companies work directly with the creditors, like lenders or banks. They can get access to your personal finance easily. They can easily understand the problem that can cause your present financial situation. You will get the right plan to improve your financial situation. If you cannot quickly compile the documents, the companies have easy access to get the documents.

The experts are also good in negotiation so they can win the negotiation. The detail of your reports will be used to get the better deal. The negotiation process is important for achieving your goal. If you cannot negotiate well, you will be hard to get the deal that you need.

Cons

You need to pay the credit repair service. Hiring an expert is not free. You will be spending money on hiring the experts. You should prepare your money for paying them. The company has the certain payment method. Some companies take the fee after they perform the service. The others take the fee up front. If you do not have much money, you can choose the affordable company to help to improve your financial situation.

Not all companies are legal. A fraud company will spend money on you than improving your financial situation. You should choose the legitimate company.