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Frequently Asked Questions

When it comes to your credit, it’s important to understand everything you read. We’ve compiled a comprehensive list of frequently asked questions to help make everything easier, but let us know if you have any additional questions.

What is credit?

Credit is the ability to borrow money, access goods and/or services with the understanding that you will repay at a later time. Interest is usually added on top of the borrowed amount. In some cases credit is more powerful than money and if used responsibly can be a useful tool.

What is a credit report?

A credit report is the record of a borrower's repayment of debts. It is compiled from a number of sources such as banks, credit card companies, collection agencies and more. This "report card" demonstrate a person worthiness of repayment.

What is a credit score?

Credit scores are calculated on a scale from 300-850. The score suggests ones creditworthiness, meaning how good you are with credit and how trustworthy you are at repayment. 

What impacts a credit score?

A credit score is broken down into 5 categories. 

*35% On-time Payments
*30% Use of Available Credit
*15% Length of Credit History
*10% Mix of Accounts
*10% Inquires

What damages a credit score?

Several factors can lower your credit score.

*Not paying bills on time or ignoring them all together
*Carrying high credit card balances
*Filing a Bankruptcy/Foreclosure
*Overlooking negative items on your credit report
*Applying for too many new accounts within a period of time

What is credit repair?

Most credit reports contain errors which can be challenged. Credit repair is the process of challenging those questionable negative items that could be potentially hurting your score. If the credit bureaus and creditors cannot verify the reported items, laws can be utilized to request removal.

How long does the repair process take?

There is  no way to predict the length of time it will take to repair a client's credit. Everyone circumstance and credit profile is different and results may vary depending on how your creditors and the bureaus respond to the challenges we send on your behalf.

What score will I have?

There is no way to guarantee or predetermine how much a client score will increase.

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