Credit Repair Confidence

Credit Repair is actually the process of removing inaccurate, unfounded, out-of-date, false, and erroneous information from your credit report.  Your credit report dictates your credit score.  The 3 major credit bureaus collect information from lenders, creditors, and debt collectors and apply it to your credit report.  Based on that information, your credit score is determined.  This information could include the balances on loans or credit cards, credit inquiries, debt-to-income ratio, and most importantly, credit utilization (the percentage of the debt you have to available credit) Credit Repair is a process, however in the majority of cases you will begin to see results in 45-60 days, in some cases less.

 While we try to remove inaccurate, unfounded, out-of-date, false, and erroneous information as quickly as possible, it is impossible to give an exact timeline as each case is different.  

The more items we are fighting to remove, the longer it might take.  A general timeline is between 3-6 months, though sometimes it may take a bit longer or even shorter timeframe.

A good Credit Score is what each of us aspires to. After all, a credit score is one of the important determining factors when it comes to borrowing money – and getting a low rate when you do. But trying to pin down a specific number that means your credit score is “good” can be tricky. After all, there are lots of different credit scores that lenders use when trying to decide whether to grant you a loan and one lender’s “good” score may fall into another lender’s “fair” credit category. (Not to mention, you may score differently from model to model.) Luckily, there are broad rules of thumb that can help someone figure out whether their credit is good or not. 

Let’s break it down.

Approved are those with scores of 750 or higher.  Lenders might offer credit to anyone with a score of at least 650, but charge consumers with scores below 700 a higher interest rate!