Part 1 – Do You Need Credit Repair?
Asking if you need credit repair is a lot like asking if you need a cell phone or air conditioning – it may not be necessary to continue living but it sure makes life easier and more accessible. You need good credit if you want to experience more of what life has to offer. Good credit means access to auto loans, home mortgages, gainful employment, your or your children’s education, and many of life’s other opportunities. The better your credit history and the higher your credit score the more likely you are to be approved for major purchases and lines of credit.
So, how do you know if credit repair is right for you?
- You’ve Been Denied – Whether it was for a credit card, a car loan, a mortgage, or some other form of credit, being denied sucks. More often than not it’s also the catalyst for many consumers to realize they are in need of credit repair. Every financial institution has different guidelines and requirements for approval when researching your credit history and seeing your credit score. If you’ve been denied for any reason, you have items on your credit report that are so detrimental to your score and credit health you are in need of help.
- You Don’t Know Your Debt – You have a couple (or more) credit cards and through a couple of rough patches you ended up charging way more than you could afford. This is the most common form of trapping debt in the United States. The real problems starts when you only pay the minimum payment for months on end and have never added up your total debt. The higher your debt gets the lower your credit score becomes. Obtaining a current copy of your credit report should be on top of your priority list. Without it, you have no way of knowing what your credit history is and what your debtors are reporting against you.
- You’ve Missed Making ANY Payments on Time – Even one missed credit card payment can have a negative impact on your credit score. You aren’t perfect, and sometimes circumstances are out of your control and best-laid plans don’t happen for any number of reasons. Whether or not you missed your payments unintentionally or not, your credit score has suffered. If you’ve missed or been late even once in the past few years it’s in your best interest to see how those have impacted your credit history and score.
If any of these apply to you, then we’d like to talk to you. We’re confident we can help you understand your current credit situation and assist you in finding the path to good credit.