WHAT IS CREDIT?
Credit allows you to borrow money or access goods and services with the agreement that you will pay for them later, often with interest. It’s commonly used for purchases like homes, vehicles, and everyday expenses. When used responsibly, credit can be a helpful financial tool, but mismanagement can lead to long-term financial challenges.
WHAT IS CREDIT REPAIR?
Credit repair is a service that helps consumers identify and dispute items on their credit reports that may be inaccurate, outdated, incomplete, or unverifiable. Under the Credit Repair Organizations Act (CROA), credit repair companies must follow strict guidelines and cannot promise to remove accurate, verifiable information. Any company that guarantees the removal of all negative items—regardless of accuracy—is not operating within the law.
WILL CHECKING MY CREDIT REPORT HURT MY SCORE?
No. Checking your own credit report results in a “soft inquiry,” which does not affect your credit score. You can review your credit through approved sources or third-party services without any negative impact.
HOW CAN I GET A FREE COPY OF MY CREDIT REPORT?
You are entitled to a free credit report from each of the major credit bureaus every 12 months through the official, government-authorized website: AnnualCreditReport.com. Reviewing your report regularly is an important step in maintaining your credit health.
WHAT IS CONSIDERED A GOOD CREDIT SCORE?
Credit scores typically range from 300 to 850. A score of 670 or higher is generally considered “good,” though higher scores may offer better lending opportunities and interest rates.
WHAT IS CONSIDERED A POOR CREDIT SCORE?
Scores below 670 are often considered fair or poor, which may make it more difficult to qualify for credit or result in higher interest rates.
WHAT FACTORS CAN NEGATIVELY IMPACT MY CREDIT?
Several behaviors can lower your credit score, including:
- Missing or late payments
- High credit card balances
- Applying for multiple credit accounts in a short period
- Bankruptcies or foreclosures
- Ignoring potential errors or negative items on your report
HOW DO YOU HELP IMPROVE MY CREDIT?
We review your credit reports to identify items that may be inaccurate, incomplete, outdated, or unverifiable. When appropriate, we assist in disputing those items with the credit bureaus in accordance with applicable laws. We also provide education and guidance to help you build and maintain a stronger credit profile over time.
HOW MUCH CAN MY CREDIT SCORE IMPROVE?
Results vary based on each individual’s credit history and situation. Because no two credit profiles are the same, improvements cannot be guaranteed. However, addressing inaccuracies and adopting positive credit habits can contribute to long-term credit improvement.
WILL PAYING OFF MY DEBTS IMPROVE MY CREDIT SCORE?
Paying down active accounts can positively impact your credit by reducing balances and demonstrating responsible use. However, paying off accounts in collections or charge-offs will not remove the negative history from your report. Even so, a paid account is generally viewed more favorably than one with an outstanding balance.
HOW LONG DO NEGATIVE ITEMS STAY ON MY CREDIT REPORT?
Most negative items, such as late payments or collections, can remain on your credit report for up to 7 years. Certain items, like bankruptcies, may remain longer. Accurate and verifiable information cannot be removed before its reporting period expires.
CAN YOU GUARANTEE RESULTS OR SPECIFIC SCORE INCREASES?
No. Under CROA regulations, credit repair companies cannot guarantee specific results or score increases. Outcomes depend on many factors unique to each individual’s credit profile.
