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If you are concerned about your credit score, you may be considering using a credit repair company to help you. This may cause you to ask, “Will my credit score be impacted by using a credit repair company?”

Yes, your credit score can be impacted by using a credit repair company. If you use a credit repair company that does not follow the law and does not have your best interests at heart, it is possible that your credit score could be negatively affected.

However, if you work with a reputable credit repair company and make all of your payments on time, then there should be no negative impact on your credit score.

How Credit Repair Companies Help Repair Your Credit Score

Credit repair companies are beneficial if you need help cleaning up your credit. While it’s true that using one can impact your score, it doesn’t mean that they won’t improve your situation.

A reputable credit repair company not only optimizes your credit reports and scores and helps you understand why your credit scores are low in the first place so you won’t make similar mistakes in the future.

A good credit repair company works with you to identify any mistakes or inaccuracies in your reports and works with the creditors to correct these errors. They also check for other possible issues such as identity theft or fraud that could affect your score and help resolve them.

Credit repair companies help:

What Is Credit Repair?

Credit repair is a service that helps you repair your credit report and improve your overall financial situation. This process usually involves removing negative information from your credit report, such as late payments or collections accounts.

Once you remove negative information from your credit report, your credit score will improve, and it will be much easier for you to find financing for new purchases or even refinance an existing loan. It also gives lenders confidence that they are loaning money to someone who will repay them on time and in full.

How Does Credit Repair Work?

Reliable credit repair solution providers first obtain your report from the three major credit bureaus (Experian, Transunion, Experian) and review it. They check for errors and negative items to determine what can be fixed and let you know if they can help improve your credit score.

Reputable credit repair agencies assess your credit report to determine if they can use dispute resolution or debt settlement to help improve your score.

Dispute Resolution

Dispute resolution involves contacting each of the three major credit bureaus (Equifax, Experian, and TransUnion) and asking them to remove inaccurate information from your report. If an identity thief takes on credit using your name, you will be prompted to provide supporting documents to dispute the report.

You may need to provide credit repair companies with documents supporting your dispute. As per law, the bureaus need to investigate your case within 30 days of disputing. They will contact the creditors and share your dispute letter with them together with the supporting documents. If they can’t find the creditor or the creditor fails to validate a credit report, the credit bureaus will be mandated to remove the report.

Debt Settlement

Debt settlement involves negotiating with creditors directly to pay less than what is owed on your accounts. If the creditor agrees to a payment plan, ensure that you pay on time, and you will see your credit score improve. Once the creditor agrees, they can remove the credit account from your credit report.

Taking Charge of Your Credit Score

This is how best to increase your score:

Our Bottom Line

If you have bad scores and no idea what went wrong or how those mistakes occurred, then a credit repair company will be helpful. They work with you to determine what needs fixing and help get everything back on track again for you to qualify for loans or other financial products in the future. However, ensure you only use reputable credit repair companies like The Ascent Network. Any credit repair company that assures you they can remove any negative report from your credit report is a scam and will only impact your credit score negatively.

A more positive outlook toward a more financially secure future starts today. Give the Ascent Network a call today at 1-877-871-2400. Ascent Network helps consumers all over the United States and is available locally in Huntington Beach, CA, Coachella Valley, Palm Springs, Cathedral City, Rancho Mirage, Palm Desert, Desert Hot Springs, Indian Wells, La Quinta, Indio, and Thousand Palms.


Does Credit Repair Really Work?

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Student loans, unpaid credit, car loans, and mortgages can make it hard for you to enjoy some finer things in life. You may not travel as much as you would and starting a family can seem like a burden. To get out of these debts, you may be considering credit repair services or debt consolidation. But what is the difference between credit repair and debt consolidation?

Difference Between Credit Repair and Debt Consolidation

Credit repair and debt consolidation both help you improve your credit score, albeit through different processes. Here are the differences between the two;

Debt Consolidation

If you have several debts, you may forget to pay off some of the loans hurting your credit score. Debt consolidation enables you to have only one debt instead of having several. It involves taking a new loan to pay off multiple smaller loans in one go. You may need to take out a personal loan or use home equity loans to pay off the other debts.

Whether you choose a personal or home equity loan, you will have to compare interest rates from different lenders to see which one has the best deal. And when you receive the loan, you will pay off all your debts and start paying the new loan.

Disadvantages of Debt Consolidation

Credit repair

Credit repair is a service that helps you to improve your credit score and repair credit reports. Credit repair companies will typically help you remove inaccurate information from your credit report, dispute incorrect information with creditors or the credit bureaus, and help you to obtain copies of your credit reports for free.

Advantages of Credit Repair

Disadvantages of credit repair


What has Credit Repair Done for Me?


Our Bottom Line

When choosing between credit repair and debt consolidation services, ensure you know all the pros and cons associated with each so that you can choose the one that will work for you.

A more positive outlook toward a more financially secure future starts today. Give the Ascent Network a call today at 1-877-871-2400. Ascent Network helps consumers all over the United States and is available locally in Huntington Beach, CA, Coachella Valley, Palm Springs, Cathedral City, Rancho Mirage, Palm Desert, Desert Hot Springs, Indian Wells, La Quinta, Indio, and Thousand Palms.

According to the Education $1.61 trillion in outstanding debt. If you have student debt, you must be asking yourself this crucial question — How will removing student debt from my credit profile impact my credit score?

Can You Remove a Student Loan From Your Credit Report?

You can not remove a student loan from your credit report; however, you can have certain negative information removed. Not having it removed is a good thing because if you make all your payments on time, you will have a positive payment history on your credit report for ten years, which means a good credit score.

However, late student loan repayment remains on your credit account for seven years, damaging your credit report. And you will have a hard time getting financial approvals in the future.

When you review your credit report, check all three reports since their information may differ. Look for late payments and other negative marks that should not be there. If you find any mistakes or outdated information, dispute them with the credit reporting company and ask for them to be removed from your credit report.

How to Remove Late Payment or Student Loan Default from Your Credit Report

Have you tried to file a dispute and failed? If yes, you can try to remove the default status on your student loan, and here are some ways to do this.

Apply for a Student Loan Rehabilitation

A student loan rehabilitation program helps you erase the default status on your student loan. The process takes ten months, and if you make nine on-time monthly payments within 20 days of the due date, your loan will have a good standing.

After the ten months, you will repay on income-driven loan repayment terms. You are also eligible to apply for temporary postponement through loan deferment or forbearance.

Ask For a Goodwill

You can also send a goodwill letter to your lender if you have been making regular on-time payments but defaulted along the way due to a hardship. The goodwill letter is an emotional appeal to your lender, asking them to remove late repayment entries. However, for this to work, your story has to be convincing while explaining what happened, and you must have paid your debts.

Can Collections Be Removed?

Apply for Loan Forgiveness

You can check if you are eligible for student loan forgiveness if you can’t wait for the seven years to elapse, and you have been repaying your loan. Check the Federal Student Aid website to find out if you are eligible for student loan forgiveness.

Fully Pay Your Student Debt

If all others fail and you want to have a good credit score, one sure way is to pay your student debt in full. This helps you qualify for mortgages, car loans, and other loans with good interest rates because your credit score will improve.

Many lenders see student loan debt as a negative factor to consider when making lending decisions. This is particularly true of mortgage lenders, which generally view student loan borrowers as riskier than those without student debt. It’s certainly possible to get a mortgage with student loan debt, but you’re likely to pay more for it than someone without any outstanding loans. Pay your student loan if you want to have a positive credit report!

How Student Loans Impact Your Credit Score

The impact your student loans have on your credit score depends on several factors, including:

Age of your loan. A long history of loan repayment has a positive impact on your credit report. Lenders see you as someone who knows how to manage finances and will consider you when you are looking for financing. However, you have to ensure that you are paying your loans on time.

Whether or not you’re current on the loan. If you’re “in good standing,” meaning you’re making payments on time and staying current with any other requirements, that will have a positive impact on your credit score. If you are consistent in repaying, outstanding student loans have less of an impact on your credit score.

However, if you’re not in good standing, that has negative consequences for your credit score. The good news is it will only stay on your credit report for seven years. However, if you are looking for financing from lenders, you will be seen as a high risk. If the lender still chooses to give you a loan, it will be at a higher interest rate than those with a good repayment history.

How much you owe. The average student loan balance in the U.S. is $37,113 as of 2022. If you don’t owe much and have a good history of making payments on time, your credit score won’t take a significant hit from holding onto that loan.

But if you owe a lot and have a spotty payment history or haven’t made any payments toward what you owe, your credit score will be hurt. If that’s the case, paying off your student debt can help improve your credit score if you pay it off in full and on time.

Our Bottom Line

A sure way to raise your credit score fast and have a good credit score is to make your student loan payments as agreed. If you don’t make payments as promised, your account could go into default, and your balance may be submitted to collections. This means your credit score will most likely take a hit.

A more positive outlook toward a more financially secure future starts today. Give the Ascent Network a call today at 1-877-871-2400. Ascent Network helps consumers all over the United States and is available locally in Huntington Beach, CA, Coachella Valley, Palm Springs, Cathedral City, Rancho Mirage, Palm Desert, Desert Hot Springs, Indian Wells, La Quinta, Indio, and Thousand Palms.

The Fair Isaac Corporation (FICO) mentions that credit inquiries are only 10% of your FICO score. However, a significant number of inquiries reduce your score by several points. It is important to have and maintain a good credit score to enjoy the benefits that come with it. Learn how to remove credit inquiries from your credit report and what credit inquiries are.

What are Credit Inquiries?

When you apply for a credit card or loan, the lender looks at your credit reports to determine whether to approve you for the account. The result is an inquiry on your credit report, which can temporarily tank your score.

Types of Credit Inquiry (Credit Pull)

There are two types of inquiries:

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