Credit repair is supposed to remove information that shouldn’t be on your credit reports, so it will stop dragging down your credit scores.
However, some information on the internet that you may read will tell you that we can’t remove adverse information if the information is accurate, timely and verifiable.
This is simply untrue, as credit defaults can be removed for many reasons. Credit repair is completely legal as you have the right to hire a professional to deal with these matters on your behalf. It’s important that you use a professional that has the expertise and experience to get the fast an efficient result that you are after.
Part of what we do is negotiate, mediate, and investigate. So, credit defaults can be removed for all kinds of reasons, legitimate or not.
Credit repair can be useful when you can afford your monthly bills, but a low credit score is keeping you from qualifying for a credit product, such as a mortgage or a car loan, or is causing you to pay high interest rates or not be approved at all.
This is how a credit repair company like We Fix credit can help you….
Your credit scores are calculated from information in your credit reports. A choice magazine study found about 30% of consumers that had errors on their credit reports were incorrect. That could significantly lower their scores and prevent someone from getting the finance they require to move forward with their life.
This is why it’s so important to check and fix problems on your credit reports as early as you can so your score can get to where it should be when you want to borrow.
Some credit repair services check your reports for information on your behalf, you should not let anyone check your credit information for you except you. This way you are not giving away any of your personal information to any company that may use your information down the track for marketing purposes. Always go direct to the actual credit reporting bureaus themselves so that you can obtain a FREE copy of your credit report directly from the source. It’s then up to you how and who you decide to share your information with.
Here is some of the negative information you might find on your credit report;
- Accounts that have gone to a credit default
- Court Actions
- Misspellings, which may mix in negative entries that belong to someone with a similar name — or may mean positive entries aren’t showing up when they should.
- Negative repayment information or repayment history indicators (RHI)
- Debts that may be statue barred
- Debt collection activity
- Credit Enquiries
If you pay a fee to the credit repair service, the process should take around 6 weeks to complete. Any credit repair companies that spend months and months on a simple credit default are probably not doing anything for you as it does not take that long to fix your credit. You may pay a setup admin fee to begin, as well. You should also be aware of companies that make you enter into a payment plan for their services. They might be taking money by a direct debit from your account before they do any work for you. This could mount up to thousands of dollars that you could pay before the work takes place.
Always look at the dates that your credit listing is listed. This will help you establish whether or not it’s worth waiting out for it… or to use a credit repair service to fix your credit quickly. It will also depend on how urgent it is for you to apply for credit and whether or not the investment is worth it for you.
At We Fix Credit you pay a set fee for the service to be paid once the work is completed. You will also find the turnaround times are quick and painless therefore you can be back on track to get your loan approved in no time. We Fix credit also provides debt negotiation services at a very small cost which could save you a fortune when it comes to the bottom figures for debts that may be outstanding.
The benefits of course will include lower interest rates you’ll qualify for with higher credit scores with major banking institutions. – So, it could be definitely worth it.