If you’re like most people, you live from paycheck to paycheck. When something goes wrong — you lose your job, you suffer an unexpected medical emergency, or you get into an accident — it can be difficult to pay your bills on time and make ends meet without taking out another loan or putting yourself into debt. If this sounds familiar, credit repair services may be able to help you get your finances back on track so that you can keep your life in order without getting buried under debt that could take years to pay off. Here’s how these services work and how they can help you with your financial problems.
Why Do You Need Credit Repair?
If you’re worried about how credit repair services can help your life, you’re not alone. Most of our customers are in situations like yours when they reach out to us for help. They didn’t foresee their financial situation going south; and now, suddenly, a few bad decisions or unforeseen events have left them swimming in debt with no way out. If that sounds familiar—don’t despair! Credit repair can get your life back on track. With expert credit repair services from 1st Debt Solutions, you could recover financially and get your reputation back intact in just a few short months. Here’s why:
When creditors believe your account is accurate—and that you plan to pay it off—they may be more willing to negotiate a settlement deal or agree to completely erase those debts. That means less money spent paying off debts and more money freed up in your budget each month, which is probably what you need right now. It gets better: You might even regain control over some property held as collateral by credit bureaus if sufficient balances are established on other accounts!
How Credit Scores Are Calculated
This is a confusing topic, but understanding how credit scores are calculated can help you learn what moves your score in either direction. Scores are based on five factors:
1) Credit utilization (the percentage of available credit used),
2) Length of credit history,
3) New credit accounts opened,
4) Types of inquiries (how many times lenders have looked at your report recently).
5) Types of accounts reported to each bureau.
Each factor is given a weight; that is, certain factors count more than others in determining your score. For example, if you carry lots of debt and don’t have much time to pay it off, that hurts your score more than if you had no debt at all.
Why Is My Score Low?
If you’re concerned about your credit score, there are many things you can do to get it back in shape. In some cases, a few bad marks on your report may have a minimal impact; if your score has suffered more significant damage, however, you may need professional help. Credit repair services can help address any errors or poor marks and get you back to good standing. The faster you act—and at least eight months before applying for any major loans—the better chance you have of getting all of your accounts in order. If there are too many issues for DIY credit repair, consider hiring professionals who know how to fix credit fast.
What Can I Do About It?
If you’re buried in credit card debt, credit repair services may be able to help. A lot of people are hesitant to file for bankruptcy, even though they realize it might save them financially in the long run. But when there’s another alternative to consider—credit repair services—the decision can become a lot easier. Credit repair services work with creditors and collectors, making sure you pay only what you owe (and sometimes less). The longer your creditors have your money, the more interest builds up. Credit repair companies negotiate to settle your debts quickly so that you don’t have to keep throwing money down a drain that doesn’t seem like it will ever stop filling up.
Start Now, Not Tomorrow!
Credit repair services will help you fix your credit and regain your life. There is no need to wait, just take action today! Start with a FREE credit report. Use these easy steps: Request an official copy of your credit report from each of three major reporting agencies (Equifax, Experian, and TransUnion). Review each report carefully for inaccuracies or mistakes.
Look at where you stand now and decide how you’d like to see things change in six months or one year. This can be a hard step, but it’s important because it will give you something to strive for! Now that you know what you want your new score to look like, sit down with professional services that offer credit repair so they can help get you there.
