Getting your credit score together can be a daunting process. Don’t worry, you’ll get it taken care of if you approach it with a plan. We’re here to help you formulate that plan. Take it one step at a time and you’ll be at the top of the staircase before you know it. All you need to do is focus on the step in front of you and you will be successful. There are several questions which come up time and time again when people are looking to get their credit score higher.
Depending on where you’re starting, you will have some, or maybe even all of these questions. Whether you just want to raise your score a little or you need a complete credit repair service, we’ve got the answers to the most commonly asked questions. If you do not find an answer to your question on this page, leave a comment with your question in the comment box. There is a chance your question has been answered somewhere else on our website. If enough people ask the same question, we’ll add it to this FAQ page.
Where do I even start?
This is the number one question that we receive. The whole process of repairing your credit can be hugely overwhelming and we understand exactly what you’re going through. We’ve been in your same position. The best place to start is here. By reading our articles, you’ll learn a lot about how the whole process and credit score system works. Once you have a good grasp of how it works, you can make a decision on whether you want to repair your credit yourself or hire a professional company.
If you already know which route you want to take, then go for it. Where you need to start is determined by which route you choose. If you are going to repair your credit yourself, the best place to start is with educating yourself on credit law. Since you’re going to be disputing negative items and negotiating settlements, you need to know the law.
If you’re going to hire a company to handle the process for you, your job will be a lot easier. All you have to do is pick a good company. You can go to our homepage to see the most reputable companies in the industry.
How Long Will It Take To Repair My Credit?
There is one question you should ask yourself before asking this one. And you have to be honest with yourself. Ask yourself, “How bad is my credit?” If your credit isn’t too far down the rabbit hole, it will not take as long as it would if your credit is in really bad shape. It’s not possible for us to give you a specific number of days it will take to repair your credit. However, 45 days is how long credit bureaus have to update their files. It’s the law. With that said, your credit won’t necessarily be repaired in 45 days.
You have to remember, it’s not just you and the credit bureau involved in this process. You’ll also have to deal with your creditors. Some of them can be very hard to reach and others hard to communicate with. If you hire a company, then they’ll have to deal with both parties. It will speed the process up a bit since they’re professionals and are used to dealing with creditors and the major bureaus, but it’ll still take some time.
Your credit will be officially repaired once you have negotiated settlements and all inaccurate information has been removed from your credit report.
How Can Their Be Inaccurate Information On My Credit Report?
From the outside looking in, you might think that it’s not likely that credit reports have errors. Once you learn more about how credit works, you’ll see that the credit system is not a perfect system. It’s prone to errors just like any other man made system. Your credit report is only as accurate as your creditors’ employees are at entering data.
The information that goes on your credit report is entered by humans. If an employee in charge of sending pass due bills into collections accidentally enters your information instead of someone else’s, it would be on your credit report. That’s just one scenario. There are many different ways to get an inaccurate item on your report.
Have you ever received a bill for a service you already paid for? I know I have. If you have, then you should be able to see how that could effect your credit. If the creditor accidentally didn’t record your payment, they might send your bill into collections even though you paid it.
Why Is My Credit Score Important?
The answer to this question is simple and also complex. The simple answer is as follows. Your credit score is important because the majority of society has agreed that it’s important. It’s that simple. If half of Americans woke up tomorrow and decided that credit score was irrelevant, it would be. Since that’ll probably never happen, let’s look at how your credit score impacts your life.
Your credit score will have a drastic impact on the quality of your loans. If you have bad credit, you will get loans with unethically high interest rates. You will have to pay thousands more in interest that someone with good credit. This goes for car loans, mortgages, credit cards, and any other loan you can think of. Speaking of credit cards, you won’t be able to get a good one without good credit. You’ll be stuck with the bottom of the barrel credit cards. They have higher interest and less rewards or even no rewards.
If you have bad credit, you won’t be able to get a big line of credit at all. Your credit card will most likely be $1,000 or less. That’s not enough to buy big items like appliances, plane tickets, computers, and car repairs. If you can’t put those on your credit card, you can’t get rewards. Also, with a small credit line, you’re more likely to go over 30% utilization. If you do, you’ll end up hurting your score even more.