Understanding the difference between good credit and bad credit is the key to knowing when you need to seek financial help. According to a study by Lexington Law Firm, many American consumers still do not understand their credit score.
The study estimates that of all consumers with a poor or fair credit score, roughly 30% of them believe that the cost of credit repair is what is keeping them from taking action.
To the contrary, the benefits of hiring a credit repair law firm can far outweigh the cost of living with poor credit. To help you decide if this path is right for you, here are 4 reasons to seek financial help:
One of the biggest advantages of seeking credit repair assistance is that they take immediate action. Working on your behalf, the credit repair agency or firm will work directly with your lenders to resolve your credit issues.
Get Results Quickly
One of the biggest advantages of seeking credit repair assistance is that they take immediate action. Working on your behalf, the credit repair agency or firm will work directly with your lenders to resolve your credit issues.
This means that you never have to worry about tackling the long and tedious task of repairing your credit because a dedicated team is already working on it. When dealing with your debtors, there are many laws and processes that you need to be aware of.
Additionally, there are some situations that may require disputing or challenging items with the credit bureaus, collection agencies or original creditors. By enlisting the help of a credit repair firm, you are placing this responsibility in the capable hands of experienced professionals.
They can review your reports, gather information and develop a plan to remove questionable items from your credit report.
Another advantage of hiring a credit repair agency is that they have a thorough understanding of the law. They can leverage federal laws to help you get the credit that you deserve. Credit repair firms can ensure that creditors are in compliance with federal laws such as:
Once they have successfully repaired your credit, you may be able to get lower interest rates on loans or credit cards.
Credit repair companies do all the hard work so that you do not have to. They spend hours combing over your credit report, searching for inaccuracies and reaching out to creditors.
Avoid Getting Caught In A Web Of Legalese
Another advantage of hiring a credit repair agency is that they have a thorough understanding of the law. They can leverage federal laws to help you get the credit that you deserve. Credit repair firms can ensure that creditors are in compliance with federal laws such as:
- The Fair Credit Reporting Act (FCRA).
- The Fair Credit Billing Act (FCBA).
- The Fair Debt Collections Practices Act (FDCPA).
- And other applicable statutes.
Enjoy The Long-Term Benefits Of Your Short-Term Investment
Once they have successfully repaired your credit, you may be able to get lower interest rates on loans or credit cards.
Many lenders use your credit score to determine how much they will let you borrow and how much interest to charge you. Setting aside funds now for credit improvement may save you a lot of money in the long run.
Get More Time To Spend With The Ones You Love
Credit repair companies do all the hard work so that you do not have to. They spend hours combing over your credit report, searching for inaccuracies and reaching out to creditors.
If necessary, they may be able to help you negotiate with your creditors or have negative items removed entirely. While the credit repair agency is hard at work repairing your credit, you are free to spend more time at school, work or with your family and less time worrying about your credit score.
The road to better credit can be long and bumpy. Luckily, you do not have to travel this road alone. Seeking financial help to improve your credit score may lead to more positive credit decisions and increased employment opportunities.
The road to better credit can be long and bumpy. Luckily, you do not have to travel this road alone. Seeking financial help to improve your credit score may lead to more positive credit decisions and increased employment opportunities.
If you need help choosing a firm, research credit repair company reviews so you can find the one that is right for you. Don't go another day with poor credit. Seeking financial help can be your first towards getting organized financially and in life.
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