Your credit score is what banks and other institutions use to check if they should approve your purchase, loan or job application. Of course, this could mean the difference between getting approved or denied. If you have been denied because of bad credit than getting your credit repaired is important.
If your credit score is below 600 then Credit repair is necessary. To give you an idea how this is calculated, everyone starts out with a good score but the moment you are late on a payment or a mortgage, the affect on your credit scorec an be bad.
If your credit score is bad, does this always mean you will not be able to get a loan? In some cases no but you will get rates which are much higher compared to someone who has a good credit score.
To fix your credit rating you need to start paying off old debts and making sure that it does not happen again. It does not get fixed overnight, because the amount of money you owe might be too big and most of us did not get into this situation overnight. You can fix your credit by yourself or have Guardian Credit Repair do it for you.
Fixing your credit is like fixing your car if you don’t know what is wrong you can’t fix it. To find out what is wrong with your credit score, you need to get a copy of your credit report you can get the reports from one of the three credit agencies namely Equifax, Experian, and Trans Union.
When you have the credit report in your hands, look what is on it. If you know that certain items have already been resolved, send a letter to that credit agency together with the supporting documents so your credit report can be corrected. If you have many items Guardian Credit Repair can help you fix them fast and it is only $87 per month.
For those who have outstanding balance, you need to pay for it before you can get a settlement letter which should also be given to the credit agency for filing. In some cases you can negotiate a lower pay off.
Surprisingly, credit repair may be as simple as borrowing money since your credit score may not improve unless you apply for a loan. You don’t have to borrow a lot since a small amount like $500 is enough to get the ball rolling. Again, just make sure this is paid in the agreed upon time and in full.
Credit repair may be simple or complex and if you can’t do it alone don’t be afraid to ask help from a credit counselor. It does not take long to start improving your score. You need to keep up on the process. As mentioned previously if you feel overwhelmed ask for help.