The basis of sound financial health — Your credit score Can take you places, like great interest rates, affordable insurance, housing or car loans, and rental agreements. There are as many ways to mess up your credit in the first place. If your credit is not good or there are errors on the reports then you will not get those benefits. Therefore you have to maintain credit score good. One immediate move, if you have a mediocre credit score is to adapt good financial habits. There are numerous consumers with very poor credit scores, trying all kinds of ways to try and have some effect. The following blog I will debunk myths around credit repair to get everyone on the same page what does work and does not.
1. Quick Fix of Credit Repair
Credit repair is perpetually portrayed as an instantaneous fix instead, of course that isn’t the reality it takes time. The truth is — you forgot that credit repair is all about credit review, finding errors and learn how to be financially responsible. It is a long road paved with patience & loads of work for you to see before signs of results manifest.
2. Closing Old Accounts Makes Your Score go up
Closing old accounts actually detract from your credit — in fact, It lowers your length of time open and available credit which is not ideal. Do not close the accounts, fight for accounts and credit that go hand in hand and over time build that credit history so that you can then get Accounts
3. Strip the system to no longer show any bad information that was you
Lousy to say, you could not delete late payments or bankruptcy on demand. If you can work at rebuilding your credit, the negative information on your report becomes Seven years to disappear again; bankruptcy again ten years. Tell yourself a good credit story, and before you know it they will not be able to coexist with these entries as evil instruments
4. Your Credit Repair Is Better Than Hiring A Pro At Home
Fair Warning however, that a DIY approach you had the job done (but credit repair is the world among experts that gives you extremely expert advice & tailored directional methods). Errors that experienced professionals will be able of identifying and fix solutions that an individual may just not even know otherwise exist. Hence, help from the experts is much more effective as it makes process easier and thus better results.
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5. Ruining Your Credit Score by Checking it
Most people consider it a myth. There is no effect to your score when you do a soft inquiry (a “check”) of your own credit. Check your credit report on a regular basis, discrepancies and identity thefts so you can keep track of your healthy credit.
6. You Should Pay Bills You Actually Have to Eliminate The Debt Bad Spot On Your Record
Hence, paying off the debt is a plus but it wont cleanse your credit reports of items like collections. They alone will be updated, your credit history remains the same. When you demonstrate good credit discipline time and again it will serve to offset the bad things on your record somewhat
Empower Your Credit Journey
Its a Credit recovery to wade through with confidence, but nonetheless knows the hard facts behind what you’ll be ultimately responsible in. To help you debunk all the myths & give you knowledge, we hope to make you financially free.
Get ready to use some of your old tricks for a livelihood (or, if you are just starting to learn how to build good credit… this is a marathon).
Get credit coaching with our team; YOU will be our credit monitor. Counter some lies and get started for your next financial report!