Avoid the Common Bad Credit Fix Mistakes
Miami, FL (PRWEB) July 19, 2013 -- The significance of having a good credit delves deeper into the necessities of life. Almost every American needs credit at some point in their life to fulfil their dream of buying a car, owing a home or taking their family for a vacation. Bad credit not only affects buyer’s credibility but also prevents him from getting the most deserved financial approval. Irrespective of whether a buyer needs a car loan, home loan or an education loan, buyers with bad or unclear debts are always viewed with suspicion by the lenders. Additionally, even a slightest issue in the credit file implies a higher rate of Interest by the insurance companies, credit card companies and other loan providers.
According to Kotel Finance, a leading credit repair Miami Company, repairing bad credit is vital for every Individual as not only that it guarantees easy financing to fulfil their life’s dreams but also assures better rate of Interest on them. Bad credit fix does not only enable individuals to save huge amount of money on credit cards, Insurance and loans but it also opens up new employment avenues and lead to an increased opportunities with the present employer. However, there is too much of bad advice floating around in the market, guaranteeing instant bad credit fix.
It takes immense patience, time and dedication in managing person’s credit and finances. There are no short cuts to instantly repairing bad credit. Prior to deciding to trust a credit fix company, a buyer with a bad credit should be cautious and avoid following mistakes while repairing bad credit.
Disputing genuine information on the credit report -
Some unprofessional credit repair companies often advice their clients to dispute genuine negative information on their credit report for temporary removal of negative bad credit. Though this tactics help in temporarily repairing bad credit, it tends to worsen the credit score in the long run. Since the information was genuine, it is bound to return back to the client’s profile on being reported by the creditor to the credit bureaus which furthermore drops the credit rating.
Closing bad Credit Accounts -
Closing an old credit card account or the ones with some balance often has an adverse effect on customer’s credit score. Resorting to such means on the faulty advice of unreliable credit repair companies is not a correct bad credit fix tactics.
Staying out of the credit network -
Buyers tend to stay away from their credit cards in order to avoid further credit problems. However, very few of them realize that swearing off the credit card is a correct mechanism for bad credit fix. This way, they will have more problems in availing other types of loans or credit.
Transferring the credit card balances -
Buyers often tend to play the credit card balance transfer game for repairing bad credit. This bad credit fix tactics will do no good to the buyers but will only postpone the inevitable.
About - Kotel Finance and Services is one of the best credit repair companies which offers a reliable, professional and a confidential bad credit fix service. This top credit repair Miami Company assists clients facing financial distress with personalized financial service. By individually analysing each of their credit reports, Kotel Finances comes out with the quickest and the best plan of action for repairing bad credit by seizing all the available financial opportunities. With one-on-one, personalized service to each and every customer, Kotel Finance and services aims at being the best personal financial concierge. Kotel Finance assists its clients with an assortment of financial services ranging from authorized user on credit card to personal and business loans along with the purchasing and financing of an automobile or home.
Juli Brodsky, Kotel Finance, http://www.kotelfinance.com/, 305.712.2060, [email protected]
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