Not Sure How Credit Repair Works? Here are our most Frequently Asked Questions.
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Thank you and we look forward to speaking with you.
How do I track my progress?
Your experience throughout this process is important to us. You’ll have 3 main ways to track your file.
(1) With access to a very user-friendly Client Portal, you can access and track your progress as it improves.
(2) Secondly, you will have a dedicated team of professionals proactively advising you on your progress with our services at least once a month.
(3) Lastly, we are always ready to take your call and help with a real-time check-in.
How soon should I see results?
In our initial consultation, we will help you know what to expect in terms of credit score improvement, buying power and other benefits of our service.
Generally however, results can typically be seen after the first 30 days! And we’ll continue to stay on top of your file to make the process as fast as possible.
Is Credit Repair worth it? Why?
It depends, but generally, yes! Almost every family carries debt…and the cost of that debt depends almost entirely on your credit score. Buying a home, qualifying for a car or loan or even just re-financing your current debt, Credit Repair may be the most significant investment you make.
The stronger your credit, the greater your options AND the greater the savings across the board. Better credit can mean the difference between a tough neighborhood or unreliable car to living in the home/community you want and knowing you have dependable and safe transportation. And, the more you save, the more you can invest for the future and your family needs (like healthcare for your parents). Most often, you can’t afford NOT to fix your credit score! A change of 50 points in your credit score could save you TENS of THOUSANDS of dollars on a mortgage.
How much do I need to be involved in the process of credit repair?
In terms of dealing with creditors, NOT AT ALL. We take care of all paperwork and communication with the credit bureaus/creditors. Once you are a client, you no longer have to worry about contacting the creditors or credit bureaus yourself.
In terms of working with us to fix your credit, your involvement is simple but crucial. Initially, we will be communicating with you regularly to get off to a right start. Along the way, we will only expect you to forward us any communication from creditors + let us know of any changes you make on your end about your credit. Your (simple) communication with us is key so that we can deliver the BEST results!
How will I know it works?
Every time you receive updated credit reports throughout your service you will see items that have been changed, updated, or removed. If an item is changed or updated, it generally means that a positive improvement with that account has been made. If an account was removed all together from your credit report, it means that a negative item has been removed from your credit. Usually these items are collections, charge offs, foreclosures, etc. We’ll also point out important progress made within your client account which you’ll have online access to.
How long does the program last?
Every situation is different. During the initial consultation, we will give you an estimated completion date. Depending on the situation, we’ve fixed credit between 30 to 180 days.
What are the benefits of good credit and why you need it?
Most credit card companies, banks and mortgage companies offer the best interest rates to those with excellent credit. Having average or mediocre credit will generally result in maximum APR’s which have a significant impact to your wallet over the life of a loan. On average, most people pay over 15% more for the same exact loan compared to those with top tier credit.
With poor or bad credit, you can be paying between $1,500 to $5,000 more annually! This added interest shows up every month in a higher payment…
Take a look:
$20,000 car paid over 5 years:
CREDIT STATUS RATE PAYMENT COST OF BAD CREDIT
Perfect 6.8% $394 $0.00
Mildly Damaged 9.7% $422 $4,740
Damaged 14.7% $473 $6,967
In the example of a home mortgage, less than excellent credit can cost you TREMENDOUSLY! A typical home can cost between $50,000 and $130,000 more in interest if you are buying the home with bad credit.
$250,000 home paid over 30 years:
CREDIT STATUS RATE PAYMENT COST OF BAD CREDIT
Excellent 3.9% $1,179.17 $0.00
Mildly Damaged 5.0% $1,342.05 $58,637
Damaged 6.3% $1,547.43 $132,574