Should I Fix My Credit Rating?

If you haven’t already experienced it, the result of having a negative listing on your credit file, even something seemingly small such as a misunderstanding with your phone carrier, can have devastating effects.

A poor credit rating can mean refusal of credit for everything from home loans to simple store and credit card accounts. Even if credit can be secured, product pricing can be directly affected by your credit rating. This generally means higher fees and interest payments, potentially costing you thousands extra.

The truth is that it can be beneficial to lot of credit providers if you have a poor credit rating. This it because it gives them a reason to charge more for their products. Some credit providers have built empires on this basis; they don’t care if the listing is correct or not, they only care that it’s there.

“Should I fix my credit?” Would you be happy to be convicted for a crime you did not commit? Nor should you have to suffer because of an incorrect or faulty credit listing, you have the right to say “not guilty.”

Restoring your credit file can result in once again being able to obtain fast and cost effective loan approvals with lower costs and interest rates. This not only gives you back options, but can save you significant amounts of money.

Most importantly repairing your credit restores dignity and allows you and your family to regain control. What could be more important than that?

Some people are shocked to learn how much more they may pay if they have a default on their credit file. In fact depending on the nature of the default, it could mean not getting finance at all.

Let’s compare the same loan, one with a default and the same loan after the default has been removed.

Loan with a default

Lender: Borrower has to use a nonconforming lender due to the default
Loan amount: $250000
Loan term: 25 years
Interest rate: 12% due to the default
Monthly interest payment: $2633.00

Same loan after the default has been removed

Lender: Borrower can now use a lender with a lower interest rate because the default has been Removed
Loan amount: $250000
Loan term :25 years
Interest rate: 7% due to clean credit file
Monthly interest payment: $1766.00

That’s a saving of $867.00 every month or a whopping $10,404.00 per year.

Don’t let that credit issue stop you getting ahead in life, now is the time to act. Take back control and call Clean Credit now!

(above are examples only, actual interest rates and terms may differ)

See Also…

What is Credit Repair?

How Does Credit Repair Work?

How to Fix My Credit Rating

Fix Your Bad Credit Rating with Clean Credit

Clean Credit Debt Resolutions