When you have a car problem, and you don't have enough knowledge how to fix it? Can you fix your car?
Let's say you have the knowledge but you need to work 5 days in a week and you need to spend your time with your family during the weekends. Can you fix it?
I'm pretty sure you will be browsing the internet and you will look for the nearest auto shop in your area and let them handle your problem.
It is the same as your CREDIT SCORE.
Here are the 4 reasons why you need a credit repair company.
1. Professional Knowledge. (They are Highly Experienced.)
As a consumer, you can certainly repair your own credit. There are endless resources online to get templates for dispute letters and even some pretty good advice. The problem with repairing your own credit is that you may not know the Fair Credit Reporting Act laws and Fair Collections laws that are on your side and how to leverage them to your benefit. Also, you may not fully understand how the different items on your credit file affect your score and where to start for the fastest results.
This is the main reason why most people consider hiring a credit repair company in order to improve their credit score. The professionals are well aware of the latest tricks, shortcuts and super-effective disputes and processes to get the job done quickly.
2. Time. (Its a Lengthy Process)
Let's be honest, you're very busy. Regardless of whether it is going through 40-50 hours of the week at work, bringing up your kids or perhaps you have devoted your life to a noble cause. The reality is that most people barely have time at the end of a busy day to make dinner for themselves or their family.
This is also one of the major reasons why the services of a credit repair company are in great demand among people who have bad credit.
Another reason is
Creditors, collection agencies, and credit bureaus use every loophole available to them to make sure that fixing your credit won’t be a fast process. They know that most consumers get discouraged and give up quite easily when faced with a long tedious process and some strongly worded legal letters. By hiring a professional to help you repair your credit, you are retaining the services of a professional who will make sure that your credit is fixed in a legal and timely matter.
3. Save Money
It always comes down to money. There is never enough. You may barely have enough from each paycheck to make it to the next one. You may have used credit cards just to pay for everyday expenses. Making the choice to hire a company specifically to improve your credit may seem like an expense you just can’t take on, however you must consider the overall cost of repairing your own credit, the amount of time it might take and also the possibility that you may not make much progress.
If you choose to handle the process of fixing your credit all by yourself then you may need to hire a lawyer, which can certainly be expensive.
With better credit scores you’re more likely to qualify for better interest rates, lower fees and better terms from credit card issuers.
And while you may not think that the difference in a percentage point or two would have that much impact on your bottom line, you might be surprised when you take a look at the actual numbers.
Example : Mortgage Loan (30 years)
640 FICO Credit Score
On a 30-year mortgage for $350,000, you might pay somewhere around 5.7% interest, depending upon where you live and a few other factors. At 5.7% interest, your payment would be around $2,035 per month. Over the life of your loan, you would pay more than $383,000 in interest (assuming you didn’t sell or refinance).
760 FICO Credit Score
With a 760 FICO Score, you might pay somewhere around 4.1% interest for the same 30-year mortgage loan. At 4.1% interest, your payment would be around $1,700 per month. Over the life of your loan you would pay a little over $260,000 in interest (assuming you didn’t sell or refinance).
Total Savings
When compared with a low-score borrower, a high credit score could save you an impressive $335 per month in the example above. That adds up to more than $120,000 saved over the course of a 30-year mortgage.
4. Lots Of Resources
Have you ever spoken to a rep from one of the three major credit bureaus? How about telling a collector over the phone that they are completely wrong and need to get compliant FAST? We all know how demanding and persuading those collection agency lawyers can be. So why deal with them without the proper ammunition? Do you have a file cabinet full of letters and legal documents that have been effective at removing negative items from your credit file? Probably not.
This is also a major benefit of hiring a top credit repair company in order to eliminate a poor credit score. These companies have lots of resources and they are able to handle the process of credit repair very efficiently. Without proper resources, it can be difficult for an individual consumer to improve his credit score. It is not impossible for any individual to repair their own credit, however, top companies can use their skills, knowledge, resources and experience to go above and beyond the simple dispute process.
Supreme Credit Restoration has been helping people fix their credit scores for years.
If you don't have the knowledge, time and resources in fixing your credit score,
Come talk to us. We can help.
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