IT’S A FACT: Life is just harder with bad credit.
Maybe you got injured in an accident, couldn’t work, fell behind on your bills and never quite got caught up and now you have bad credit. Maybe you lost your job, couldn’t find a new one, your home got foreclosed, you lost your car and now you’re trying to claw your way back out. Maybe you got stuck with a bunch of unpaid medical bills. Or maybe you were financially irresponsible when you were younger and now you’re paying the price.
Whatever your particular backstory is, if low credit scores are holding you back from living the life you’ve always wanted, you’re part of a large segment of society that is saddled with problem credit and you need to get a handle on it….FAST.
Fortunately, there is hope.
How Do I Fix My Credit?
For most people, credit scores play an integral part in determining everything from where you live, where you work, what you wear, what you drive, the medical and dental care you and your family receive, the insurance coverage you have and the vacations you take right down to how often you travel and what you do in your spare time.
The truth is, if your FICO score is below 670, your credit is considered either “Fair” or “Very Poor”, and either way, it is holding you back. And honestly, anything south of 740 is still probably costing you in terms of higher fees, higher interest rates and perhaps even lost opportunities.
Bad credit IS fixable.
Since there is so much riding on your credit, don’t you owe it to yourself to have the very best credit score possible? If you’re like most folks, you’ve probably checked out a few credit repair companies online. Maybe someone even told you that you could save a few bucks by doing it yourself.
Now you’re researching the various credit help blogs trying to decide if rebuilding credit is something you should hire a professional to handle for you or something you should try and tackle yourself.
Absolutely, positively hire an experienced, professional credit repair service; no question.
Why? Because it’s not 1996 anymore, that’s why.
The credit bureaus know what all the do-it-yourself Internet credit repair courses are teaching. And to protect their multi-billion dollar bottom lines from a bunch of amateurs, they have figured out all the ways, legal and otherwise, to delay, discourage, demoralize and derail everyone who figures they’ll take a stab at fixing their credit without actually knowing exactly what they’re doing.
If you don’t know, and know how to spot, every single time frame, legal procedure, delay tactic, stalling technique and legal loophole the credit bureaus have at their disposal and how they can use them against you then you have already lost. And if you have, you will probably do nothing but waste your time and even make rookie mistakes that could actually make your credit reports worse.
Do-it-yourself credit restoration is NOT something you should try and learn on your own credit reports while learning it for the first time. There are just too many potential pitfalls, the credit bureaus know all of them and the stakes are just too high.
Even well-intentioned novice mistakes and what most people might consider to be “doing the right thing” can easily undermine your efforts and tack years onto the time it takes for even a single negative entry to be removed from your credit reports. Making simple mistakes could quickly plunge your credit score lower than it was when you started.
With so much at stake, you owe it to yourself and your family to take the right steps and do whatever is necessary to clean up your bad credit now and then set up a game plan that will ensure you have the best credit possible for the rest of your life.
The Real Cost of Bad Credit
Far beyond the embarrassment of credit denials, consumer credit counseling or asking someone to co-sign a loan for you, if you’ve had poor credit for very long, chances are you’ve felt the financial and lifestyle pinch plenty of times.
Major purchases cost more; sometimes a LOT more. That’s because a lower FICO score from the credit reporting agencies translates into higher risk, and that means higher costs, extra fees and higher interest rates; or you could just be turned down altogether.
The bottom line is that until you hire an experienced, knowledgeable, proven credit repair service to clean up your credit reports and improve your credit score, many of the nicer things in life that other people take for granted may simply be out of reach for you.
Cars, houses, loans, credit cards, cell phones, cable TV, insurance, gym memberships and other lines of credit all become more expensive; not because they suddenly became more valuable when you bought them, but because it costs you more to acquire them in terms of security deposits, extra fees and higher interest. As long as you allow your credit scores to remain low, all the best interest rates and great financing deals you hear about for “Well Qualified Buyers” will remain elusive and unattainable for you and your family.
And it doesn’t stop there. Buying or renting a home or apartment becomes more difficult, or even impossible, with bad credit. And every time you apply, you get to look forward to having that same uncomfortable conversation with smug strangers who awkwardly pretend to apologize as they move on to the next applicant because your credit score told them you’re not good enough.
Looking for a new job? You can count on your credit reports being an integral part of any comprehensive background check. And since your credit reports can include public records, any arrests, DUI’s, drug charges, public intoxication or indecency, sex offender status, court judgments, bankruptcies, foreclosures, vehicle repossessions, defaulted student loans, defaulted credit cards and other loans, unpaid child support liens and state or federal tax liens along with your entire late bill-paying and debt-collections history will be there for everyone to see and judge.
And if it is, it will be used to decide whether or not you can be trusted with money and all other matters involving finances, budgets, public relations, discretion, leadership, responsibility and accountability.
If you’re planning to start or expand a business or bring on a partner, be assured that your credit history will become forever-entwined in the decision-making process.
Thinking of taking your relationship with your significant other to the next level? Yep, you guessed it. Pulling pre-nuptial credit reports is a thing now; a BIG thing. And if your bad credit is “bad enough” in someone else’s opinion, your significant other just might re-think the whole relationship altogether.
The Need For Effective Credit Repair Services
The fact is that in today’s credit-driven world, all of the most important decisions regarding your “worthiness” – financial or otherwise – are made in a nanosecond, by a machine running a computer algorithm, without your input and without regard to your character, your integrity, your intentions, who you are or any of the struggles you’ve fought your way through.
Instead, those decisions are based on whatever your credit bureau report says your credit scores should be, and that is calculated from whatever correct, outdated and even incorrect information the “Big Three” credit reporting bureaus – Experian, Equifax and TransUnion – have allowed to accumulate and languish on your credit reports.
Despite how important that is, there is no private or government regulatory agency that independently audits, polices or ensures that the Big Three is even providing accurate information about everyone. Sure, there are federal laws like the Fair Credit Reporting Act, but compliance and enforcement is very much left up to individual consumers.
In the meantime, all that data is being churned out by these massive information clearinghouses as fast as they can sell it and it is taken as if it were the absolute gospel truth and no one ever even questions it. And the truth is that it directly affects your life because all of the most import decisions about you are being made with it.
But here’s the rub: According to a 2012 report released by the Federal Trade Commission, 20% of Americans have one or more mistakes in their credit report, many of which could be used to push them into higher-cost financial products including credit cards, car loans, home loans, insurance and much more or be denied credit altogether.
So the question becomes “when has a 20% error rate EVER been an acceptable norm?”
What if you didn’t get paid for 20% of the hours you worked each week? Or if your refrigerator didn’t work 20% of the time? Or if a doctor or hospital only misdiagnosed 20% of their patients? Or if your bank routinely “lost” 20% of the money you deposit.
And yet somehow, 20% errors is okay for “The Big Three”; that’s 1 in 5.
In 2016, the US population was almost 325 million; that’s nearly 68 million people with potential errors on their credit reports.
Is there a chance that your bad credit isn’t all real, or isn’t all your fault or shouldn’t even be showing up on your credit bureau reports to begin with? You better believe it.
How Could This Be Happening?
Remember about a decade ago, the financial meltdown and how everyone in authority seemed to look the other way and then how hundreds of financial businesses collapsed and how all those “too big to fail” banks had to be bailed out all and then blamed it all on their dealings in the “subprime mortgage” markets?
Selling bad credit information is BIG business, worth hundreds of billions of dollars each year and bad credit itself is even BIGGER business. The mid-range, subprime and super-subprime housing, auto, credit card, lending, insurance and other credit-related industries account for trillions of dollars in revenue each year.
And much of it revolves around what just 3 credit bureaus are saying about people.
The exact same 3 credit bureaus, by the way, that the federal government reported was providing erroneous information for, on average, 1 out of every 5 credit reports they sell. Coincidence?
Think about that for a second.
Banks and finance companies don’t make a whole lot of money, comparatively speaking, from super-prime mortgage rates or 0% car loans to “well-qualified buyers”. They make the lion’s share of their profits from fees and interest by lending money to higher risk borrowers.
That might help explain why credit bureaus are loathe to remove negative items that can drag down your credit scores. If you’ve ever tried to repair your own credit reports, you understand this firsthand. Gone are the days when you could simply fire off a credit dispute letter and know that everything would work out. In fact, credit bureaus will very often ignore disputes entirely nowadays if they are done in anything other than one very specific, legally-enforceable way.
What’s worse is that the system is actually set up so that if you make even one wrong step, you could extend the time period negative items can stay on your credit bureau reports by up to seven more years. Other mistakes could cement negative items to your credit reports and make them far more difficult or even impossible to remove for years, and in some cases, up to a decade!
The point is, bad credit is a really big deal and you need to understand:
- The deck is stacked heavily against you
- Credit bureaus are NOT your friend
- There is a significant financial incentive for allowing negative items to remain on people’s credit reports – whether they belong there or not
Bad credit reports can affect your entire life, and if you allow them to develop or persist, they can have a defining impact on pretty much every aspect of your life.
Unless correct, proven, decisive, properly-timed, properly-coordinated and properly-executed action is taken to fix your bad credit reports, they can ultimately grow into a life-limiting and life-defining barrier.
What Credit Repair Companies Can Do For You
We understand that problematic credit reports are serious, and require serious solutions to fix them.
Our credit repair specialists understand how to implement federal consumer protection laws to their full effect and can help clients leverage their legal rights under those laws by forcing the credit bureaus to legally substantiate every single item on your credit reports, and if they can’t, they can be legally forced to remove it. The result is credit reports that paint an accurate, fair and substantiated picture of you.
In addition, those same specialists can also provide you with valuable advice about steps that you can take immediately to improve your credit score fast, and how to maintain your new good credit . They can also provide you with a flexible game plan of actions to take that will continue to strengthen and improve your credit score over time.
With nearly 3 decades of experience, our credit repair experts have challenged and caused the removal of bankruptcies, charge-offs, late-pays, tax liens, foreclosures, collections and public records of every imaginable kind. They have worked through virtually every kind of credit problem there is, resulting in millions of items being removed from credit reports each year.
Effective, enduring credit report repair is about taking decisive, appropriate action with your creditors and legally enforceable actions with and against the credit bureaus. Our quality credit repair service providers can also help our clients frame the tough questions that they are legally entitled to ask in order to help improve their lives.
Now that you have the facts of what you’re really up against, it’s time to decide what to do.
Are you going to continue being a victim of bad credit by doing nothing and hope it goes away by itself? Or are you going to take effective, decisive action right now that will put you on the path to better credit and more confidence in a brighter future for you and your family?
For your FREE credit repair consultation, including a complete review of your free credit report summary and credit score, Click Here To Get Started Now
Or if you prefer, you can speak directly to a representative: Just call 855-751-9112
Phone hours are Mon-Fri 6:00am to 10:00pm MST and Sat 7:00am to 5:00pm MST. If you call after hours, be sure to leave a message and you will receive a callback promptly.