If restoring your credit is your priority, do your homework about credit repair companies. Since the internet is so large and diverse, many online companies can mislead you about the “real” credit restoration process. If an agency gives you a sale pitch that 100% of your derogatories will be removed, that statement is false. Small percentages of credit reports can be fully restored at 100%. Credit repair takes time, dedication and discipline.
Not all credit repair companies are treated equal; there are some excellent credit repair companies that have helped thousands of customers across Southwest Florida, South Florida, Florida and nationwide. Select a company that customizes your restoration than wasting time by selecting an online generic restoration company that utilizes a computer generated system to spit out your disputes.
The 5 Common Misconceptions about Credit Repair: Know the facts before you enter any credit restoration program.
- Misconception #1: Do it Yourself Credit Repair Kits Work. False, they are a waste of money. It’s always better to hire a professional like a credit repair expert, than trying to do it all on your own. You will not get the great results on your own especially if you have a deficiency or a current late payment within the last 12 months, as you would if you were to hire a professional that specializes in credit restoration.
- Misconception #2: Hiring a Credit Restoration Company will hurt my Credit Score. False, Credit restoration is a team effort between you and the Credit Restoration Company, communication is the key to your credit repair success. The only person that can hurt your credit score is yourself by being late on your payments, obtaining new credit during the credit restoration process and new credit inquiries.
- Misconception #3: Deleted Derogatories will re-appear on my Credit report. False, once a derogatory is legitimately removed, it’s gone for good. Approximately one in five Americans contain an error on there credit report, always check your credit; there are no penalties inquiring about your credit report at Experian
- Misconception #4: Filing Bankruptcy will help my Credit. False, filing Bankruptcy is one of the worst things you can do to your credit and credit score. Only file bankruptcy if you honestly can’t afford settling and paying back your debt due to a substantial decrease in salary or a medical hardship or a failed business partner. Is Bankruptcy Right for You?
- Misconception #5: New Credit will supersede my existing aged bad credit. False, overall good credit is the key to any loan approval and also new employment. Aged bad credit can negatively affect an underwriting decision when charge offs, repossessions, deficiencies and collection appear on your credit report and may alter your loan approval for a business loan, home loan or auto loan.
- One size does not fit all… Is Bankruptcy right for you?
- How Worthy is Your Personal Credit and How Can You Improve Your Credit?
- 6 Ways to Win a Better Credit Score
- 8 Credit Score Myths
- 10 Simple Credit Dos and Don’ts
- Your Credit is Your Report Card for Everything
For more information on how we can best serve your personal credit restoration and business credit restoration locally in Fort Myers FL please fill out the online contact form about your concerns or give us a call at 855.477.9007 . Read what our valued clients have to say about First Pro Capital on our Testimonials page.
Allow our team of professionals to assist you!