What Is A Credit Score?
Credit scores are provided by credit bureaus. Lenders and banks include credit scores on their background check process to determine if an individual will be approved of a loan. A credit score can be classified into five categories: excellent, good, fair, poor and very poor.
What Is A Good Credit?
Good credit is a way to classify the credit history of an individual. This indicates that the borrower is able to maintain good credit history and is a safe credit risk. Any credit score that is above 720 is considered a good credit score, and 800 being excellent. In order to achieve this, you can borrow prudently, pay your bills on time, and do not have a high balance of credit used.
What Is A Bad Credit?
Bad credit is a result of not repaying bills on time and in full. Many times individuals have bad credit because they do not pay their bills at all and the accounts end up being charged off and sent to collections. An individual's credit report gives an in depth view of how the individual handles every credit account.
What Makes A Bad Credit?
Factors That Affect Your Credit Score
Factors That Do Not Affect Your Credit Score
What Is Credit Repair?
A credit repair is a process where a person or business improves their ability to borrow money and aims for a good score on their credit by correcting wrong information in their credit report, using their credit responsibly and repaying their amount of debt more quickly.
For the most effective credit repair it is good to hire a professional licensed and bonded credit repair company.
How To Fix Bad Credit
By utilizing credit fix strategies such as paying obligations on schedule, negotiating with loan specialists for improved loaning terms, or negotiating your payment obligation to make financing costs reasonable, a borrower can improve their FICO score, this will result in making it easier to pay debt and the possibility getting approved with better payment obligation terms in the future.
Also, removing inaccurate, unverifiable, erroneous, incomplete, non-compliant data from the credit reports will help fix bad credit.
35% of your credit score is paying all of your bills on time. That is the biggest step towards obtaining good credit. Paying your bills 30 days late destroys your credit. Try to pay for everything before the due date.
The average client stays with us for 3-6 months. Some cases require less, some require more. When we file a dispute, creditors and credit bureaus have to complete an investigation within 30 days âa couple of special cases can stretch this out to 45 days. This is done in rounds of disputes, some files may take 2-3 rounds to get cleaned up, some may take 4-5 rounds. â
When you are looking for credit repair services to help fix your bad credit, it is best to ask what the previous clients have experienced from the past but remember each credit file will be different.
Credit repair companies analyze your credit report line by line and examine every detail of each account that is on your credit report.
âThen we challenge any inaccurate, unverifiable, erroneous, incomplete, non-compliant data from the credit reports with the credit bureaus and creditors. They also provide advice and tips to boost your score such as adding new positive credit history, paying the revolving debt down, and etc.