When you find yourself in a difficult financial situation where you need to obtain quick loans to meet your needs, a poor credit score may get in the way. Many people in need of serious credit repair often resort to debt consolidation loans or debt management programs to increase their credit score.
Your credit score spells the difference between getting a reliable debt consolidation loan, mortgage, business loans or any other financing vehicle. That’s where credit repair companies can help as making repair to your credit can be a challenging process.
What they can do is walk you through the process of fixing your credit, step by step and relieve you of the pressure when it gets to be too overwhelming for you to handle. They usually charge a fee for their services. So make sure you get a reputable company like Clean Credit which charges reasonable fees.
I Am Financially Responsible. Why Is My Credit Score Low?
There are people who mismanage their debts. They don’t pay on time, or sometimes, they forget about their debts. So, their interest rates build up, hefty fees come rolling and they end up with a poor credit score. But, there are also debtors who are victims of poor data entry, false reports, identity theft and so on. Your credit is blemished. Sometimes, people who paid their bills on time and managed their accounts wisely, end up with bad credit because of the following reasons:
- Identity theft.
- Incorrect information, such as accounts that belong to other people, payments that have been incorrectly reported late or inaccurate, etc.
- Past due accounts that were sent to collection agencies. Some were reported as charged off or late when in fact they weren’t.
- Maxed out credit card accounts that are over your credit limit.
Make Your Own Credit Clean-up Plan or Hire Clean Credit to Fix It For You.
Past mistakes or unfortunate events negatively impacted your credit score. Sometimes – we make poor purchase decisions. If you’re guilty of at least one of the common financial management errors below, it is time to look seriously into your debt management strategies. You can do it yourself, or get some financial advice right after your credit file has been properly corrected.
- Buying ‘stuff’ on impulse and realising that you don’t need them is one of the biggest sources for personal debt.
- Buying or renting a house that’s more costly than you can afford and bigger than you need. Aside from larger monthly payments, you also have to worry about higher utility bills and higher upkeep costs.
- Failing to follow a formal budgeting plan. Without proper planning and proactive budgeting, it is difficult to manage your money and quiet impossible to erase a pile of debt.
- Getting a car loan to ease up your transportation but going broke in the process because of hefty interests and fees
- Not automating debt payments. It’s hard to keep up with your schedule, sometimes. We forget about things, and if you’re not taking advantage of simple technology to automate our payments, we can miss our payment schedule.
- Paying retail prices on sales because you’re too busy to shop at discount outlets
- When the novelty of a new purchase wears thin, it may be too late to realise that the credit card bill arrives with a thicker balance.
- You just got off from an unfortunate divorce. – Divorce is one of the major causes of financial problems of both parties involved.
- You or someone in your family got sick. Major medical problems are surefire bank drainers. If you’re sick, it will keep you from working and maximizing your earning capacity, and you may have to increase your insurance premiums.
- Your spouse or partner spends a lot. If you’re living with someone who is not financially responsible, defaulting on debts may become a normal household occurrence.
Can Self-Proclaimed “Fast-Credit-Repair Companies” Make Your Bad Credit Disappear In A Jiffy?
No, they won’t and your bad credit may stay there for a while. Remember that, negative entries, unless disputed correctly, will stay on your report for seven years. If it’s bankruptcy, it will last on your record for 10 years. If you want positive results, get the experts to do the job. It is your right as a consumer to get an accurate credit report. Clean Credit will dispute any inaccurate, incomplete information in your credit report, or entries you believe cannot be properly verified. We know how to dispute credit report information legally. While credit reports can be ordered and disputed online, professional help will give you a better chance of getting your credit repaired.
Contact Clean Credit today to learn more about our credit repair package.