Professional Credit Help – What you need to know.

Posted by Nikitas Tsoukalis on October 16, 2014

Professional Credit Help – What you need to know.

As you know, credit scores are essential to qualifying for – and locking in low interest rates – on the likes of credit cards, home loans, car loans and more. Furthermore, your credit score is often weighed into your homeowner’s and auto insurance policy premiums. Bottom line – it behooves you to have a favorable credit score. Unfortunately, for about 1 out of every 5 Americans, that’s not the case. However, just because you have a poor credit score doesn’t mean
Professional Credit Help - What you need to know.
that it will be poor forever. Enacting simple credit repair tips like making on-time payments, paying down debt and regularly monitoring your credit can all go a long way in a relatively short period of time to repair credit. But for many Americans, routine debt management can be insurmountable based on the number of maxed out credit lines, payments that have gone to collections, etc. Thankfully, there’s help out there – and people stuck in these more dire financial situations may choose to work with a credit repair agency to manage debt and improve their credit score.

Credit Repair Agency: The Basics

Simply put, a credit repair agency works with consumers with poor credit – and their creditors – to reach agreements that are satisfactory to both the consumer and the lender and to remove erroneous credit information.

What Can They Do for You?

Credit repair agencies through their Professional Credit Help system can help consumers with a variety of different credit issues. Here’s a look:
  • Challenge erroneous data: A credit repair organization will challenge the in-accurate data on a credit report working with both the 3 major credit agencies and the creditors directly.
  • Negotiate with lenders: They have the experience and know-how to negotiate with lenders on outstanding debts to come up with what’s normally a reduced payment amount to appease both the consumer and lender. Lenders aren’t always willing to negotiate, but those that do can help consumers reduce debt and raise their score.
  • Monitor credit: Here’s a credit tip: It’s estimated that 1 out of every 5 Americans has a mistake on their credit report. A good credit repair agency can help remove errors from your report, as well as those errors that cannot be verified.
It’s worth noting that while a credit repair agency will likely provide you with the tools and plan to get out of debt and raise your credit score, it’s up to the consumer to execute it. The one thing to take caution on when selecting a credit repair agency is the legitimacy of the business. While there are many credible, honest companies out there to help, there is also a bevy of fly-by-night, scammers that aren’t qualified to repair credit. For additional information on how our company can improve your credit score, feel free to contact our office at 617-265-7900, or schedule a free consultation below.