FAQs
Choosing to invest in a credit repair company involves more than just requesting a boost in your credit scores. It entails placing your trust in someone with access to your personal and financial data. It's not just your privilege but also your responsibility to pose any number of inquiries necessary to ensure you're confident in your choice of the company you trust. Here is a comprehensive compilation of the most frequently posed questions we receive. However, if your specific question isn't listed here, we encourage you to feel free to inquire! Reach out to us via phone or schedule a call with one of our team members today!
General Questions
What is credit?
Credit is a system that is established when you make purchases and commit to repaying the borrowed amount, typically with an added interest component. Your credit activity is reported to the three primary Credit Reporting Agencies, namely Equifax, Experian, and TransUnion. As you embark on your credit journey, you are assigned an initial Credit Score. The process of continuously building and reinforcing your credit history enables you to raise your credit score, consequently increasing your eligibility for future transactions like home or car purchases. The ultimate and enduring objective in the process of building credit is to consistently meet your financial obligations punctually.
What is a credit score?
A Credit Score is a numerical rating that is assigned based on your management of credit. This rating conveys to lenders your level of creditworthiness, with a higher score indicating greater trustworthiness. Your credit score typically spans from 300 to 850, with a higher number signifying a more favorable standing. The three primary credit reporting agencies - Equifax, Experian, and TransUnion - each generate different scores based on their respective reports. The most commonly employed credit score model utilized by lenders for assessing your creditworthiness is known as the "FICO score."
What is Considered Good Credit?
A Credit Score over a 660 is considered "good" credit. This is the score that most lenders will approve you with a good interest rate. Once you have good credit, you'll want to increase your credit score over time to get over a 720 credit score (or higher), as this will help qualify for the best approvals and interest rates.
What actions hurt my credit?
Given that credit scores are subject to changes over time, it's crucial to comprehend the factors that influence these fluctuations. These factors include:
1.Maintaining elevated balances on your credit cards.
2.Making late payments on an account that is reported to your credit report.
3.Accumulating an excessive number of credit inquiries or credit pulls.
4.The presence of any adverse items, such as a Collection Account or Charge Off, appearing on your credit report.
Understanding these variables can help you manage and maintain a healthy credit score.
How can I improve my credit?
The most effective method for enhancing your credit score involves ensuring the punctual payment of all your bills and keeping your credit card balances minimized, ideally maintaining them close to a zero balance. There are five primary components that significantly influence your overall credit score:
New Credit: This encompasses any recently opened credit accounts.
Credit Mix: The variety of credit types in your portfolio, such as credit cards, loans, and mortgages.
Credit History: The duration of time you've had credit accounts and your payment history.
Length of Credit History: The total length of time your credit accounts have been active.
Amount of Debt: The total debt you owe, particularly in relation to your credit limits.
Analogous to a recipe, the perfect blend of each of these elements contributes to the creation of a strong credit profile. This same analogy can be applied to effectively managing your credit.
Why do I have more than one credit score?
Surprisingly, you possess more than 25 distinct credit scores, each based on various scoring models. While the credit information on your credit report remains consistent across these models, every credit reporting agency and model maintains its unique scoring system. Despite the potential for confusion, you'll likely observe that these scores typically fall within a similar range.For regular credit monitoring, it's advisable to employ online services like IDENTITY IQ, as they provide the most accurate assessment of your current credit standing. When you plan to make significant purchases, such as a home or car, it's prudent to utilize MYFICO. This platform allows you to evaluate each of your credit scores tailored to the lender you intend to engage with. It's worth noting that both of these options employ a soft credit pull, meaning it won't negatively impact your credit score.
How high can my score go? How low?
The highest achievable credit score is 850, while the lowest is 300. Most individuals typically commence their credit journey somewhere in the middle of this range. As you initiate the process of building a credit history and consistently meeting your financial obligations, your credit score will gradually rise over time.
What are the three credit bureaus?
The three primary credit reporting agencies are Equifax, Experian, and TransUnion. Although there are numerous other credit reporting agencies, such as LexisNexis, Sage Stream, and Chex Systems, the main three are the most frequently utilized and recognized in the credit industry.
What is a credit bureau?
A credit bureau is an intermediary company that maintains a record of your payment history between you and your creditors. These bureaus monitor and record various aspects of your credit, including your spending patterns, payment history, and other relevant information.
How do I know what my credit score is?
Monitoring your credit score online is a straightforward process, and Identity IQ is a platform we recommend to all our clients. We have found it to be the most precise and comprehensive tool for tracking your credit status.
Are credit reports and credit scores the same thing?
A Credit Score is just one of the significant elements included in your credit report. A Credit Report encompasses a wide array of data, including identifying information, trade lines, credit history, credit inquiries, public records, and collections, providing a comprehensive overview of your credit profile.
What impacts my credit score?
Five fundamental metrics are used to calculate your credit score: New Credit, Credit Mix, Credit History, Length of Credit History, and Amount of Debt.
What's on my credit report?
Your credit report is a comprehensive repository of various personal information. The typical data you'll encounter on your credit report includes Personal Information, Public Record Information, Account History, Derogatory Accounts, and Inquiries.
Do employers look at my credit score? Could it cost me a job?
Regrettably, this is a situation we encounter frequently with many individuals. In fact, more than 10% of our clients seek our services due to the need to rectify their credit issues, as it hampers their ability to secure employment.
At what age can I start building credit
You can begin the process of building credit as soon as you receive your Social Security Card. However, for most types of loans, you typically must be at least 18 years old to apply.
What score do I need to get a house?
When it comes to being pre-approved for a home loan, several factors beyond your credit score come into play. However, most mortgage lenders do stipulate a minimum FICO score of 620 or higher as a prerequisite for approval.
What score do I need to get a car?
In reality, it's possible to obtain approval for a car loan with nearly any credit score. Besides your credit score, the two primary factors that lenders consider are:
1.Your financial capability to afford the vehicle purchase, which involves having sufficient income to qualify for the loan.
2.Your credit history, particularly the absence of significant defaults or delinquencies on previous car loans or other credit accounts.
What score do I need to get a personal loan?
Absolutely! We guarantee results or you will receive a full refund. In less than 1% of cases, we can't guarantee specific items to be removed, so we may offer a non-guarantee agreement to the client instead.
Who has access to my credit report?
Whenever someone seeks access to your personal credit report, it's essential that they obtain your explicit authorization. This authorization is typically granted when you apply for a loan, as the lender requires access to your credit report as a part of the application process.
What is a FICO® Score?
The most widely employed credit scoring system by lenders and banks throughout the United States is the FICO Scoring System. The specific FICO Scoring Model utilized by a lender depends on the type of purchase or loan you're applying for. Among the most prevalent FICO Models are FICO 2, 3, 4, 5, 8, and 9, each of which calculates your credit scores in distinct ways. For further information on FICO Scoring Models, you can refer to MYFICO.
How do I get my free credit report?
While you can obtain a free copy of your credit reports from Annual Credit Report, they do not include credit scores and can be somewhat challenging to access and download. As an alternative, we suggest Identity IQ to all our clients. Their credit reports are known for being highly accurate and comprehensive, and they offer a user-friendly platform for easy access.
What is an interest rate.
Whenever you initiate a loan, an interest rate is typically associated with it. This rate signifies that, in addition to repaying the borrowed amount, you are obligated to reimburse the interest accrued over the loan's duration. For example, if you secure a $3,000 loan with a 10% interest rate for the loan's entire term (in case it's not paid off ahead of schedule), you will incur an extra sum of approximately $300 in interest, in addition to repaying the initial $3,000 borrowed.
Questions About Credit Repair
What is credit repair?
A credit score below 620 is generally categorized as "bad" credit. Poor credit can significantly hinder your chances of obtaining approval from creditors or lenders for loans. Striving to elevate your credit score to a minimum of 660 is advisable, as it can help you avoid incurring high interest rates on future loans.
Can bad credit be corrected or deleted?
Indeed, it can have a substantial impact! We employ a highly effective process that compels creditors and collection agencies to remove invalid or inaccurate accounts from a credit report.
Can my credit be repaired?
That's a fantastic question! To gain a comprehensive understanding of individual situations and ascertain if we can provide assistance, we offer a FREE Consultation and Evaluation. We find that we can typically assist most clients with their credit concerns, and we uphold the principle of not charging our clients for our services unless we are absolutely certain we can make a positive impact on their credit.
How long does credit repair take?
The duration of the credit repair process can vary widely, spanning from two weeks to as long as two months. It primarily hinges on the response time of creditors and collection agencies to disputes and their subsequent actions in resolving the issues.
Is credit repair expensive?
Indeed, the effectiveness and cost of credit repair can vary, especially if you select the wrong company with an inefficient process. Many credit repair companies charge ongoing monthly fees, but at ASAP Credit Repair, we exclusively bill for the items we actively work on. This approach not only positions us as one of the most cost-effective companies in the industry but also one of the fastest. It's advisable to contact multiple companies and inquire about their procedures; you'll observe that most companies may take 8-12 months to accomplish what we can typically achieve in just 1-3 months.
Can I repair my credit on my own?
Absolutely! In fact, exercising your right to dispute inaccurate information on your credit report is legally protected. Opting to engage a company like ours is simply one available approach to facilitate and streamline the process. With over 15 years of experience, we have refined the credit repair process and assisted more than 10,000 clients in enhancing their credit, fulfilling their credit goals, and realizing their dreams. If you decide to embark on the DIY route for credit repair, we recommend conducting thorough research. Avoid using template-based dispute letters found online, as it's essential that each dispute you submit is distinct and tailored to your specific circumstances.
What if I can’t afford credit repair?
We want you to be aware that we offer budget-friendly payment choices, and we have never lost a client due to pricing concerns. If credit repair doesn't align with your current budget, you can consider taking on the process of credit repair independently. We even offer a FREE Guide with extensive information and valuable tips on how to go about this process on your own, so be sure to explore it!
Is credit repair legal?
It's essential to understand that the process of checking and disputing your credit report is not only 100% legal but also your legal right. You possess the right to verify the accuracy of any account on your credit report at any given time. Astonishingly, 1 out of every 3 credit reports contains errors, making it a prudent practice to stay updated on the status of your credit report. Many people underestimate the potential long-term costs of even a seemingly "small" reporting error. Inaccurate reporting and poor credit can have significant consequences in various aspects of your life. Therefore, it's crucial to conduct a thorough examination of your credit report to ensure you are not adversely affected by inaccuracies.
What are removals?
The term "removal" is synonymous with "deletion" in the context of credit repair. When working on improving your credit, you aim to request the removal or deletion of an account or the reporting of an account. Any item that is successfully eliminated from your payment history is referred to as a "removal."
What can be removed from my credit report?
Any erroneous or false information has the potential to be deleted from a credit report.
What is a negative item?
A negative item encompasses any entry on your credit report that is not in a positive status. This includes late payments, charge-offs, or collection accounts, among others.
Do negative items stay on my credit forever?
That's correct! Tax liens are the only type of debt that can remain on your credit report indefinitely. All other accounts have a specific expiration or "deletion" date, typically ranging from 7 to 10 years, depending on the type of account.
Can deleted items come back on my credit?
Indeed, if credit repair is not conducted correctly, there is a possibility that items may reappear on your credit report. At ASAP, we employ a method that provides a GUARANTEE of permanent deletion of items from your credit reports, ensuring a more effective and lasting credit repair process.
How much does a negative item affect my score?
The extent to which a negative item or account affects your credit score varies based on the specific type of negative information. It can lead to a credit score drop ranging from 10 to 200 points, which is quite a broad range. It's crucial to both prevent and address any negative reporting on your credit report to ensure the best possible credit score.
Can divorce hurt my credit score?
Absolutely, it's your legal right to dispute inaccurate information on your credit report. Employing a company like ours is just one option to make the process more streamlined. With over 15 years of experience, we've honed the credit repair process and assisted over 10,000 clients in improving their credit, achieving their credit goals, and realizing their dreams. If you choose the DIY approach for credit repair, it's advisable to conduct thorough research and avoid using template-based dispute letters found online. Ensuring that each dispute is unique is essential for a more effective credit repair process.
Can identity theft hurt my credit score?
Absolutely, identity theft can significantly impact your credit and is a leading cause of poor credit. It affects more than 15 million individuals' credit reports each year. If you have fallen victim to identity theft, it's crucial to contact us promptly. We can assist you in resolving your concerns and initiating the process of rectifying any credit issues that may have arisen from the theft.
Can medical debt hurt my credit score?
Presently, yes, medical debt can be reported on your credit report. However, there are changes on the horizon, as medical debt will soon only be reported if the debt amount exceeds $500 and remains unpaid after a full year. It is advisable to address and resolve any medical debts before they have the potential to appear on your credit report in the future.
Can student loans hurt my credit score?
Yes, student loans can have an impact on your credit if you default on them. However, they can also be instrumental in building your credit score, provided you consistently make on-time payments. When it comes to student loans, credit repair can be quite effective if executed correctly. If you have questions about the best approach for managing your student loans and improving your credit, don't hesitate to reach out to us. We're here to assist and answer any inquiries you may have.
What laws protect my credit?
Indeed, student loans can impact your credit if you default on them, but they can also contribute to building your credit score when you make consistent, on-time payments. When it comes to student loans, credit repair can be highly effective when executed correctly. Please don't hesitate to contact us if you have any questions about the most effective way to manage your student loans and improve your credit. We are here to provide guidance and address any concerns you may have.
When should I start repairing my credit?
Indeed, student loans can impact your credit if you default on them, but they can also contribute to building your credit score when you make consistent, on-time payments. When it comes to student loans, credit repair can be highly effective when executed correctly. Please don't hesitate to contact us if you have any questions about the most effective way to manage your student loans and improve your credit. We are here to provide guidance and address any concerns you may have.
Can I stop paying my bills?
It's essential to maintain a consistent payment history and never stop paying your bills. Even if there's a clerical error or an issue affecting one of your accounts, allowing bills to go unpaid can result in more harm than it's worth. If you're uncertain about how to handle a particular situation, we're here to provide free advice and assistance. Feel free to reach out to us for guidance and support.
Questions About Our Services
Who is My Credit Repair Co LLC?
My Credit Repair Company LLC is a credit repair company that was founded in December 2010 by its CEO, Sarah. The company was established with the aim of helping individuals and families improve their financial well-being by offering comprehensive credit repair solutions.
How long has My Credit Repair Co LLC been in business?
My Credit Repair Company LLC has been in business since it was founded in December 2010. As of the current date, it has been in operation for more than a decade, which is over 10 years.
Where is My Credit Repair Co LLC located?
Our company is located at 1270 Crabb River Road, Suite #60028, Richmond, TX 77469. This is where you can find us if you need to reach us in person or send any correspondence. Please note that our services are also accessible online, allowing us to assist clients from various locations.
Does My Credit Repair Co LLC offer a service guarantee?
Yes, we offer a service guarantee to provide our clients with peace of mind. At My Credit Repair Co LLC, we are committed to delivering effective credit repair solutions. While we cannot guarantee specific outcomes or results due to the complex nature of credit repair, we guarantee that we will work diligently on your behalf to challenge inaccuracies and discrepancies on your credit reports.
How much does My Credit Repair Co LLC cost?
My Credit Repair LLC Co stands out from the crowd, distinguishing ourselves from over 95% of other credit repair companies. Why are we different? We have a unique approach in that we only charge you for the specific items we actively pursue. This not only positions us as one of the most cost-effective options in the industry but also one of the swiftest. How does it work? We dispute all your derogatory items simultaneously, which means we typically complete our services within a 60-90 day timeframe. What's more, we provide a FREE consultation and evaluation, ensuring you have a comprehensive understanding of what we can achieve and the full scope of our services before any charges are applied.
How do I cancel service if I no longer need it?
Give us a call at +1-855-306-98001 or send an email to info@mycreditrepairco.com and we will cancel your services immediately.
How will I know my credit is repaired?
Excellent query! Following each round of credit repair, we furnish you with an extensive report showcasing your results and an updated credit profile. This ensures that you can effortlessly monitor your progress throughout the process.
Is My Credit Repair Co LLC legitimate?
Certainly, without a doubt. We possess full licensing, insurance, and bonding in the states where we conduct our operations. Furthermore, our extensive collection of over 1500 client testimonials and reviews serves as compelling evidence of the tangible outcomes we achieve and the satisfaction of our clientele.
How do I view my account progress and credit score?
After every round of credit repair, we furnish you with an in-depth report highlighting your results and presenting an updated credit profile. This feature enables you to conveniently monitor your progress throughout the process.
Do you provide discounts?
Absolutely! We have special discounts available for members of the military, as well as for friends and family. If you meet the criteria for these discounts, don't hesitate to reach out to us today and take advantage of these offers.
Is credit repair a scam?
Credit repair services can sometimes carry a negative reputation due to the presence of unscrupulous operators in the industry. However, it's important to recognize that there are reputable companies, like ours, that are committed to going above and beyond to assist you. To ensure you make an informed choice, I strongly advise conducting thorough research and reaching out to multiple companies instead of settling for the first one you come across. Your financial well-being is worth the effort.
Can I pay more for better results?
Rest assured, there's no need for concern on that front! We devote a substantial amount of time and effort to each and every one of our clients' cases, ensuring that your account receives the attention it deserves. Your peace of mind is important to us, and the evidence of our commitment is evident in the positive results we achieve for you.
Does your service really work?
It absolutely delivers results! Sustaining a presence in the Credit Repair industry is a challenging feat unless you consistently deliver both dependable results and exceptional customer service, which we wholeheartedly do. Our track record speaks for itself as we've been a part of this industry for over 15 years - a testament to our longevity and the trust we've earned. This is a distinction not many other companies can claim.
How long have you been doing credit repair?
With a track record of over a decade, we have successfully served a substantial client base of over 10,000 individuals. Our services have enabled these clients to improve their credit, ultimately achieving their financial goals and moving forward with greater confidence in their financial futures.
Get Started Now!
FAQs
Choosing to invest in a credit repair company involves more than just requesting a boost in your credit scores. It entails placing your trust in someone with access to your personal and financial data. It's not just your privilege but also your responsibility to pose any number of inquiries necessary to ensure you're confident in your choice of the company you trust.
Here is a comprehensive compilation of the most frequently posed questions we receive. However, if your specific question isn't listed here, we encourage you to feel free to inquire! Reach out to us via phone or schedule a call with one of our team members today!
General Questions
What is credit?
Credit is a system that is established when you make purchases and commit to repaying the borrowed amount, typically with an added interest component. Your credit activity is reported to the three primary Credit Reporting Agencies, namely Equifax, Experian, and TransUnion. As you embark on your credit journey, you are assigned an initial Credit Score. The process of continuously building and reinforcing your credit history enables you to raise your credit score, consequently increasing your eligibility for future transactions like home or car purchases. The ultimate and enduring objective in the process of building credit is to consistently meet your financial obligations punctually.
What is a credit score?
A Credit Score is a numerical rating that is assigned based on your management of credit. This rating conveys to lenders your level of creditworthiness, with a higher score indicating greater trustworthiness. Your credit score typically spans from 300 to 850, with a higher number signifying a more favorable standing. The three primary credit reporting agencies - Equifax, Experian, and TransUnion - each generate different scores based on their respective reports. The most commonly employed credit score model utilized by lenders for assessing your creditworthiness is known as the "FICO score."
What is Considered Good Credit?
A Credit Score over a 660 is considered "good" credit. This is the score that most lenders will approve you with a good interest rate. Once you have good credit, you'll want to increase your credit score over time to get over a 720 credit score (or higher), as this will help qualify for the best approvals and interest rates.
What actions hurt my credit?
Given that credit scores are subject to changes over time, it's crucial to comprehend the factors that influence these fluctuations. These factors include:
1.Maintaining elevated balances on your credit cards.
2.Making late payments on an account that is reported to your credit report.
3.Accumulating an excessive number of credit inquiries or credit pulls.
4.The presence of any adverse items, such as a Collection Account or Charge Off, appearing on your credit report.
Understanding these variables can help you manage and maintain a healthy credit score.
How can I improve my credit?
The most effective method for enhancing your credit score involves ensuring the punctual payment of all your bills and keeping your credit card balances minimized, ideally maintaining them close to a zero balance. There are five primary components that significantly influence your overall credit score:
New Credit: This encompasses any recently opened credit accounts.
Credit Mix: The variety of credit types in your portfolio, such as credit cards, loans, and mortgages.
Credit History: The duration of time you've had credit accounts and your payment history.
Length of Credit History: The total length of time your credit accounts have been active.
Amount of Debt: The total debt you owe, particularly in relation to your credit limits.
Analogous to a recipe, the perfect blend of each of these elements contributes to the creation of a strong credit profile. This same analogy can be applied to effectively managing your credit.
Why do I have more than one credit score?
Surprisingly, you possess more than 25 distinct credit scores, each based on various scoring models. While the credit information on your credit report remains consistent across these models, every credit reporting agency and model maintains its unique scoring system. Despite the potential for confusion, you'll likely observe that these scores typically fall within a similar range.For regular credit monitoring, it's advisable to employ online services like IDENTITY IQ, as they provide the most accurate assessment of your current credit standing. When you plan to make significant purchases, such as a home or car, it's prudent to utilize MYFICO. This platform allows you to evaluate each of your credit scores tailored to the lender you intend to engage with. It's worth noting that both of these options employ a soft credit pull, meaning it won't negatively impact your credit score.
How high can my score go? How low?
The highest achievable credit score is 850, while the lowest is 300. Most individuals typically commence their credit journey somewhere in the middle of this range. As you initiate the process of building a credit history and consistently meeting your financial obligations, your credit score will gradually rise over time.
What are the three credit bureaus?
The three primary credit reporting agencies are Equifax, Experian, and TransUnion. Although there are numerous other credit reporting agencies, such as LexisNexis, Sage Stream, and Chex Systems, the main three are the most frequently utilized and recognized in the credit industry.
What is a credit bureau?
A credit bureau is an intermediary company that maintains a record of your payment history between you and your creditors. These bureaus monitor and record various aspects of your credit, including your spending patterns, payment history, and other relevant information.
How do I know what my credit score is?
Monitoring your credit score online is a straightforward process, and Identity IQ is a platform we recommend to all our clients. We have found it to be the most precise and comprehensive tool for tracking your credit status.
Are credit reports and credit scores the same thing?
A Credit Score is just one of the significant elements included in your credit report. A Credit Report encompasses a wide array of data, including identifying information, trade lines, credit history, credit inquiries, public records, and collections, providing a comprehensive overview of your credit profile.
What impacts my credit score?
Five fundamental metrics are used to calculate your credit score: New Credit, Credit Mix, Credit History, Length of Credit History, and Amount of Debt.
What's on my credit report?
Your credit report is a comprehensive repository of various personal information. The typical data you'll encounter on your credit report includes Personal Information, Public Record Information, Account History, Derogatory Accounts, and Inquiries.
Do employers look at my credit score? Could it cost me a job?
Regrettably, this is a situation we encounter frequently with many individuals. In fact, more than 10% of our clients seek our services due to the need to rectify their credit issues, as it hampers their ability to secure employment.
At what age can I start building credit
You can begin the process of building credit as soon as you receive your Social Security Card. However, for most types of loans, you typically must be at least 18 years old to apply.
What score do I need to get a house?
When it comes to being pre-approved for a home loan, several factors beyond your credit score come into play. However, most mortgage lenders do stipulate a minimum FICO score of 620 or higher as a prerequisite for approval.
What score do I need to get a car?
In reality, it's possible to obtain approval for a car loan with nearly any credit score. Besides your credit score, the two primary factors that lenders consider are:
1.Your financial capability to afford the vehicle purchase, which involves having sufficient income to qualify for the loan.
2.Your credit history, particularly the absence of significant defaults or delinquencies on previous car loans or other credit accounts.
What score do I need to get a personal loan?
Absolutely! We guarantee results or you will receive a full refund. In less than 1% of cases, we can't guarantee specific items to be removed, so we may offer a non-guarantee agreement to the client instead.
Who has access to my credit report?
Whenever someone seeks access to your personal credit report, it's essential that they obtain your explicit authorization. This authorization is typically granted when you apply for a loan, as the lender requires access to your credit report as a part of the application process.
What is a FICO® Score?
The most widely employed credit scoring system by lenders and banks throughout the United States is the FICO Scoring System. The specific FICO Scoring Model utilized by a lender depends on the type of purchase or loan you're applying for. Among the most prevalent FICO Models are FICO 2, 3, 4, 5, 8, and 9, each of which calculates your credit scores in distinct ways. For further information on FICO Scoring Models, you can refer to MYFICO.
How do I get my free credit report?
While you can obtain a free copy of your credit reports from Annual Credit Report, they do not include credit scores and can be somewhat challenging to access and download. As an alternative, we suggest Identity IQ to all our clients. Their credit reports are known for being highly accurate and comprehensive, and they offer a user-friendly platform for easy access.
What is an interest rate.
Whenever you initiate a loan, an interest rate is typically associated with it. This rate signifies that, in addition to repaying the borrowed amount, you are obligated to reimburse the interest accrued over the loan's duration. For example, if you secure a $3,000 loan with a 10% interest rate for the loan's entire term (in case it's not paid off ahead of schedule), you will incur an extra sum of approximately $300 in interest, in addition to repaying the initial $3,000 borrowed.
Questions About Credit Repair
What is credit repair?
A credit score below 620 is generally categorized as "bad" credit. Poor credit can significantly hinder your chances of obtaining approval from creditors or lenders for loans. Striving to elevate your credit score to a minimum of 660 is advisable, as it can help you avoid incurring high interest rates on future loans.
Can bad credit be corrected or deleted?
Indeed, it can have a substantial impact! We employ a highly effective process that compels creditors and collection agencies to remove invalid or inaccurate accounts from a credit report.
Can my credit be repaired?
That's a fantastic question! To gain a comprehensive understanding of individual situations and ascertain if we can provide assistance, we offer a FREE Consultation and Evaluation. We find that we can typically assist most clients with their credit concerns, and we uphold the principle of not charging our clients for our services unless we are absolutely certain we can make a positive impact on their credit.
How long does credit repair take?
The duration of the credit repair process can vary widely, spanning from two weeks to as long as two months. It primarily hinges on the response time of creditors and collection agencies to disputes and their subsequent actions in resolving the issues.
Is credit repair expensive?
Indeed, the effectiveness and cost of credit repair can vary, especially if you select the wrong company with an inefficient process. Many credit repair companies charge ongoing monthly fees, but at ASAP Credit Repair, we exclusively bill for the items we actively work on. This approach not only positions us as one of the most cost-effective companies in the industry but also one of the fastest. It's advisable to contact multiple companies and inquire about their procedures; you'll observe that most companies may take 8-12 months to accomplish what we can typically achieve in just 1-3 months.
Can I repair my credit on my own?
Absolutely! In fact, exercising your right to dispute inaccurate information on your credit report is legally protected. Opting to engage a company like ours is simply one available approach to facilitate and streamline the process. With over 15 years of experience, we have refined the credit repair process and assisted more than 10,000 clients in enhancing their credit, fulfilling their credit goals, and realizing their dreams. If you decide to embark on the DIY route for credit repair, we recommend conducting thorough research. Avoid using template-based dispute letters found online, as it's essential that each dispute you submit is distinct and tailored to your specific circumstances.
What if I can’t afford credit repair?
We want you to be aware that we offer budget-friendly payment choices, and we have never lost a client due to pricing concerns. If credit repair doesn't align with your current budget, you can consider taking on the process of credit repair independently. We even offer a FREE Guide with extensive information and valuable tips on how to go about this process on your own, so be sure to explore it!
Is credit repair legal?
It's essential to understand that the process of checking and disputing your credit report is not only 100% legal but also your legal right. You possess the right to verify the accuracy of any account on your credit report at any given time. Astonishingly, 1 out of every 3 credit reports contains errors, making it a prudent practice to stay updated on the status of your credit report. Many people underestimate the potential long-term costs of even a seemingly "small" reporting error. Inaccurate reporting and poor credit can have significant consequences in various aspects of your life. Therefore, it's crucial to conduct a thorough examination of your credit report to ensure you are not adversely affected by inaccuracies.
What are removals?
The term "removal" is synonymous with "deletion" in the context of credit repair. When working on improving your credit, you aim to request the removal or deletion of an account or the reporting of an account. Any item that is successfully eliminated from your payment history is referred to as a "removal."
What can be removed from my credit report?
Any erroneous or false information has the potential to be deleted from a credit report.
What is a negative item?
A negative item encompasses any entry on your credit report that is not in a positive status. This includes late payments, charge-offs, or collection accounts, among others.
Do negative items stay on my credit forever?
That's correct! Tax liens are the only type of debt that can remain on your credit report indefinitely. All other accounts have a specific expiration or "deletion" date, typically ranging from 7 to 10 years, depending on the type of account.
Can deleted items come back on my credit?
Indeed, if credit repair is not conducted correctly, there is a possibility that items may reappear on your credit report. At ASAP, we employ a method that provides a GUARANTEE of permanent deletion of items from your credit reports, ensuring a more effective and lasting credit repair process.
How much does a negative item affect my score?
The extent to which a negative item or account affects your credit score varies based on the specific type of negative information. It can lead to a credit score drop ranging from 10 to 200 points, which is quite a broad range. It's crucial to both prevent and address any negative reporting on your credit report to ensure the best possible credit score.
Can divorce hurt my credit score?
Absolutely, it's your legal right to dispute inaccurate information on your credit report. Employing a company like ours is just one option to make the process more streamlined. With over 15 years of experience, we've honed the credit repair process and assisted over 10,000 clients in improving their credit, achieving their credit goals, and realizing their dreams. If you choose the DIY approach for credit repair, it's advisable to conduct thorough research and avoid using template-based dispute letters found online. Ensuring that each dispute is unique is essential for a more effective credit repair process.
Can identity theft hurt my credit score?
Absolutely, identity theft can significantly impact your credit and is a leading cause of poor credit. It affects more than 15 million individuals' credit reports each year. If you have fallen victim to identity theft, it's crucial to contact us promptly. We can assist you in resolving your concerns and initiating the process of rectifying any credit issues that may have arisen from the theft.
Can medical debt hurt my credit score?
Presently, yes, medical debt can be reported on your credit report. However, there are changes on the horizon, as medical debt will soon only be reported if the debt amount exceeds $500 and remains unpaid after a full year. It is advisable to address and resolve any medical debts before they have the potential to appear on your credit report in the future.
Can student loans hurt my credit score?
Yes, student loans can have an impact on your credit if you default on them. However, they can also be instrumental in building your credit score, provided you consistently make on-time payments. When it comes to student loans, credit repair can be quite effective if executed correctly. If you have questions about the best approach for managing your student loans and improving your credit, don't hesitate to reach out to us. We're here to assist and answer any inquiries you may have.
What laws protect my credit?
Indeed, student loans can impact your credit if you default on them, but they can also contribute to building your credit score when you make consistent, on-time payments. When it comes to student loans, credit repair can be highly effective when executed correctly. Please don't hesitate to contact us if you have any questions about the most effective way to manage your student loans and improve your credit. We are here to provide guidance and address any concerns you may have.
When should I start repairing my credit?
Indeed, student loans can impact your credit if you default on them, but they can also contribute to building your credit score when you make consistent, on-time payments. When it comes to student loans, credit repair can be highly effective when executed correctly. Please don't hesitate to contact us if you have any questions about the most effective way to manage your student loans and improve your credit. We are here to provide guidance and address any concerns you may have.
Can I stop paying my bills?
It's essential to maintain a consistent payment history and never stop paying your bills. Even if there's a clerical error or an issue affecting one of your accounts, allowing bills to go unpaid can result in more harm than it's worth. If you're uncertain about how to handle a particular situation, we're here to provide free advice and assistance. Feel free to reach out to us for guidance and support.
Questions About Our Services
Who is My Credit Repair Co LLC?
My Credit Repair Company LLC is a credit repair company that was founded in December 2010 by its CEO, Sarah. The company was established with the aim of helping individuals and families improve their financial well-being by offering comprehensive credit repair solutions.
How long has My Credit Repair Co LLC been in business?
My Credit Repair Company LLC has been in business since it was founded in December 2010. As of the current date, it has been in operation for more than a decade, which is over 10 years.
Where is My Credit Repair Co LLC located?
Our company is located at 1270 Crabb River Road, Suite #60028, Richmond, TX 77469. This is where you can find us if you need to reach us in person or send any correspondence. Please note that our services are also accessible online, allowing us to assist clients from various locations.
Does My Credit Repair Co LLC offer a service guarantee?
Yes, we offer a service guarantee to provide our clients with peace of mind. At My Credit Repair Co LLC, we are committed to delivering effective credit repair solutions. While we cannot guarantee specific outcomes or results due to the complex nature of credit repair, we guarantee that we will work diligently on your behalf to challenge inaccuracies and discrepancies on your credit reports.
How much does My Credit Repair Co LLC cost?
My Credit Repair LLC Co stands out from the crowd, distinguishing ourselves from over 95% of other credit repair companies. Why are we different? We have a unique approach in that we only charge you for the specific items we actively pursue. This not only positions us as one of the most cost-effective options in the industry but also one of the swiftest. How does it work? We dispute all your derogatory items simultaneously, which means we typically complete our services within a 60-90 day timeframe. What's more, we provide a FREE consultation and evaluation, ensuring you have a comprehensive understanding of what we can achieve and the full scope of our services before any charges are applied.
How do I cancel service if I no longer need it?
Give us a call at +1-855-306-98001 or send an email to info@mycreditrepairco.com and we will cancel your services immediately.
How will I know my credit is repaired?
Excellent query! Following each round of credit repair, we furnish you with an extensive report showcasing your results and an updated credit profile. This ensures that you can effortlessly monitor your progress throughout the process.
Is My Credit Repair Co LLC legitimate?
Certainly, without a doubt. We possess full licensing, insurance, and bonding in the states where we conduct our operations. Furthermore, our extensive collection of over 1500 client testimonials and reviews serves as compelling evidence of the tangible outcomes we achieve and the satisfaction of our clientele.
How do I view my account progress and credit score?
After every round of credit repair, we furnish you with an in-depth report highlighting your results and presenting an updated credit profile. This feature enables you to conveniently monitor your progress throughout the process.
Do you provide discounts?
Absolutely! We have special discounts available for members of the military, as well as for friends and family. If you meet the criteria for these discounts, don't hesitate to reach out to us today and take advantage of these offers.
Is credit repair a scam?
Credit repair services can sometimes carry a negative reputation due to the presence of unscrupulous operators in the industry. However, it's important to recognize that there are reputable companies, like ours, that are committed to going above and beyond to assist you. To ensure you make an informed choice, I strongly advise conducting thorough research and reaching out to multiple companies instead of settling for the first one you come across. Your financial well-being is worth the effort.
Can I pay more for better results?
Rest assured, there's no need for concern on that front! We devote a substantial amount of time and effort to each and every one of our clients' cases, ensuring that your account receives the attention it deserves. Your peace of mind is important to us, and the evidence of our commitment is evident in the positive results we achieve for you.
Does your service really work?
It absolutely delivers results! Sustaining a presence in the Credit Repair industry is a challenging feat unless you consistently deliver both dependable results and exceptional customer service, which we wholeheartedly do. Our track record speaks for itself as we've been a part of this industry for over 15 years - a testament to our longevity and the trust we've earned. This is a distinction not many other companies can claim.
How long have you been doing credit repair?
With a track record of over a decade, we have successfully served a substantial client base of over 10,000 individuals. Our services have enabled these clients to improve their credit, ultimately achieving their financial goals and moving forward with greater confidence in their financial futures.
Get Started Now!
+1 (816) 227-1052
801 Travis Street Ste 2101, Houston, Texas 77002
Resources :
The Fair Credit Reporting Act
