Consumers have the ability to contest and correct items on their credit scores for themselves, but it can be a long and tedious process.
(PRWEB) June 16, 2013
Credit repair companies work to assist individuals repair and improve their credit rating. Companies That Repair Credit was founded and launched to help people with informative articles on fixing and maintaining a good credit score, along with locating and hiring a firm specializing in credit repair.
Consumers have the ability to contest and correct items on their credit scores for themselves, but it can be a long and tedious process. Credit repair companies are cognizant of the latest rules, regulations and procedures governing credit repair and can significantly reduce the time it takes to make changes.
Financial institutions, vehicle dealerships and landlords all utilize credit scores to determine which applicants represent the least credit risk. A FICO credit score of 550 or below is considered a risk, while a score of 750 and over is rated excellent. Low credit scores can prevent individuals from obtaining employment, renting a home or starting a business.
Many consider their credit score a mystical number arrived at by nothing less than arcane methods. In reality, a credit score is the end result of a mathematical formula used to determine a person’s ability to repay debt. Credit scores are calculated by a combination of factors that include income, current debt, employment history and other elements.
Companies that repair credit are comprised of professionals with extensive experience in the credit industry. They work with individuals to repair their credit with all three of the credit reporting agencies – Experian, TransUnion and Equifax. The three agencies don’t share information, making it critical to examine and repair each report individually.
Correcting errors on a credit report will have a major impact on a consumer’s borrowing power and future financial endeavors. It’s important to exercise due diligence when selecting the right agency to repair credit problems. Credit reports can be repaired to accurately reflect debt, which in turn will increase credit scores. Only time and responsible management of income and debt will restore credit to pristine order.
Companies That Repair Credit also provides consumers with information on debt counseling services, debt consolidation and credit advisers. Debt consolidation firms negotiate payback arrangements to debtors and can help reduce the amount owed. Counseling services work with individuals to show them ways to be more financially responsible and take control of their financial health. Credit advisers can dispute any errors on credit reports and counsel clients on how to repair their credit.
The newly launched Companies That Repair Credit provides consumers with a comprehensive look at credit repair agencies, debt counselors and consolidation firms. The site offers consumers valuable information on the importance of a good credit score and the advantages of enlisting the services of a professional credit repair agency.
For more information, visit the website at http://CompaniesThatRepairCredit.com.