(Part 1 in a 3-Part Series)
In the United States, consumer credit scores are critical for anyone who would like to have the option of financing large purchases such as a home, car or major household appliance. But low credit scores can place large items out of reach for the majority of Americans, many of whom do not have immediate access to large sums of cash. What can you do if your finances take a hit and ultimately negatively impact your credit scores?
Finances can plummet for a myriad of reasons:
- Unexpected medical expenses
- Job loss or salary reduction
- Changes to your small business income
- Natural or man-made disasters
- Property taxes
- Theft
- Unusually high utility bills
- Outrageous gas prices
If your finances take a nose dive and you are forced to rely on open credit card balances to pick up the slack, your ability or inability to repay in a timely fashion could compromise FICO scores. If this happens to you, what can you do? Are you forced to live forever in the shadow of financial misfortune? The good news is: “No!” At Credit Repair by Attorney, we can help.
Is credit correction necessary?
Negative information will remain on your credit report for 7 to 10 years from the last date of activity and could cost thousands of dollars in high interest rates and fees. Also it’s embarrassing when you go to apply for financing and get turned down because of your credit report. Also important is the fact that people are refused employment because of information contained in their credit files.
How long will credit correction take?
Although the amount of time it takes to repair credit is different in every circumstance, many Credit Repair by Attorney clients see tremendous results within the first 30-45 days. Of course, items like a bankruptcy or repossession could take longer to correct. But any and all derogatory items can potentially be removed. The progress of our clients’ cases depends, in part, on immediate forwarding of all relevant correspondence.
How many points can be corrected?
Any credit score 680 and above is considered “A” credit. But people who have faced financial challenges might find their scores in the problem area, well below 500. If you retain a reputable credit repair company, you can count on an average correction of 70-90 points within the first 30-45 days. For example, at Credit Repair by Attorney, we have improved credit scores for some of our clients by as much as 200 points.
It’s important to note that numerous factors affect credit scores besides derogatory items, although those factor prominently into credit-score assignment. Other things that affect credit scores include length of credit history, types of credit, outstanding balances—even the number of inquiries.
What can be removed from a credit report?
If you hire a professional to correct your credit, you can expect changes to bankruptcies, collections, charge offs, foreclosures, repossessions, medical bills, credit card debt, inquiries, late payments, judgments, tax liens, child support cases, student loans and more. There is not a single type of derogatory item that cannot be removed from a credit report. Admittedly, items like bankruptcies and repossessions are difficult to remove, not impossible for trained professionals.
Are there any risks associated with hiring a professional credit repair firm?
No. There are no risks to hiring a pro to handle your repair. The worst we could do would be to fail to improve your credit score. If this happened to you, you would be able to take advantage of our money-back guarantee. The best we would be able to do would be to permanently delete all derogatory items from all three bureaus and improve your credit score tremendously, save you thousands of dollars in interest charges over the next several years.
Check our blog post next week for more frequently asked questions about credit repair. At Credit Repair by Attorney, located in Rancho Cucamonga, California, we serve clients in Los Angeles, Orange, Riverside, San Bernardino and San Diego Counties as well as Arizona and Nevada. Our team of highly qualified and experienced attorneys is ready to provide fast and effective solutions for your bad credit. For a free consultation of your credit situation, call us today @ 909-944-3222.
CREDIT REPAIR BY ATTORNEY 