Will Lenders or Credit Bureaus Help With My Credit Repair?September 9, 2022
If you have a bad credit score, the best thing to do is to look into credit repair. However, you may be unsure whether a credit bureau or lender can help you. Here’s a look at when each organization can help you with your credit repair efforts.
Who can help you repair your credit?
There are a few different avenues to explore when it comes to repairing your credit. You can either go through a credit repair agency, work with your lenders or repair credit yourself.
Credit repair companies work with your creditors and credit bureaus to ensure the information is up-to-date and accurate. They also guide you through the process of disputing inaccurate entries and checking if there are fraudulent accounts. In addition, they also offer credit monitoring and advise you accordingly.
You may also be able to work directly with your lenders to try and remove negative items from your report. However, it can be time-consuming, and you may feel you are not getting results.
Another effective way to repair your credit is taking measures into your own hands. This includes paying off debt, disputing credit report errors, and maintaining good financial habits. Even though it takes some time and effort, it’s usually the most successful approach to improving and having a good credit score.
Is it worth paying someone to fix your credit?
Credit repair can be tricky and time-consuming, so you might wonder if it’s worth paying someone to help you. Well, you can save money if you have the time and patience to do it yourself. But if you’re not comfortable dealing with the complexities of credit repair, it might be worth paying someone else to do it for you.
There’s no guarantee that paying someone will actually improve your credit score. If you are to pay for credit repair services, use credible credit repair companies because fraudulent companies make things worse for you. How can you tell apart credible from fraudulent agencies? Fraudulent agencies:
- Claim they’ll remove all negative information from your credit report
- Ask you to pay upfront
- Suggest that it is possible to dispute accurate information
- Ask you not to contact credit reporting companies directly
A legitimate credit repair company will only offer to help remove inaccurate information from your credit report that may harm your credit score. Remember, credible credit repair companies can’t do what you can’t do on your own.
Can a lender fix your credit?
Yes! A lender can fix your credit if you take proactive steps. First, you need to check your credit report for any inaccuracies and dispute any errors you find therein. If you can prove to the lenders that the entry is inaccurate, your lender is obliged to correct the mistake on your credit report.
Using a lender is often more effective than going through a credit repair agency, but it can still be time-consuming and might be difficult to get results.
What is the fastest way to repair your credit?
Repairing your credit is crucial if you want to enjoy low-interest rates when taking loans. To repair your credit to raise your score fast, here are some steps you can take:
- Pay your credit card balances on time because credit utilization is the second most important factor in your credit scoring.
- Ask a relative or friend if you can be added as an authorized user to their credit card if they have a good on-time payment history. Their positive payment history will help improve your credit score fast. Authorized user status is good for credit newbies with a small credit profile while having a smaller impact on those with lower credit utilization.
- Pay bills on time because missing payments impacts your credit score negatively. Call your creditor if you miss a payment by 30 days or more to explain your situation and make an effort to pay so that they don’t report it to the credit bureaus.
- Pay off collection accounts and persuade them to stop reporting the debt after you complete paying it.
- Dispute any credit errors that are negatively affecting your credit by regularly checking your credit report. Request a copy of your credit at AnnualCreditReport.com, check and dispute any inaccurate negative reports such as old debts past their statute of limitations or payments marked late even though you paid on time, among others.
What does a credit company do?
Credit repair can take as little as three months or longer if you have faced foreclosure, bankruptcy, or a history of late payments. At Ascent Network, our credit repair experts provide credit profile audits to see how they can help improve your credit score. They also help you improve your credit by verifying and restoring the correct entries on your credit report.
Besides credit repair and credit score improvement, Ascent Network offers debt settlement, foreclosure prevention services, debt consolidation, and education loan negotiations. Ascent Network also provides financial counseling so you can take charge of your financial freedom. Why not be among Ascent Network’s clients and have a FICO score increase of 105 or more?
Credit companies and lenders can help you improve your credit scores. If you use a credible credit repair agency like Ascent Network, they will contact the credit bureaus and dispute incorrect information found in your credit report. If you choose to use the lenders, you must be proactive and follow up using the information provided to repair your credit.
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. It 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.