Bad credit is not something you have to live with, and good credit is not something you have to dream about. Good credit is within your reach.
Some Frequently Asked Questions from Previous Customers
What determines a persons credit score?
Credit scores are a basic measure of how reliable you are as a credit user. Basically, how much can credit lending companies trust that you’ll responsible use your credit. FICO Credit Scores are calculated using different pieces of credit data in your credit report. This data is grouped into five categories. The two most important aspects of your credit are payment history (35%) amounts owed (30%). The rest of your credit score is determined by length of credit history (15%), new credit (10%) and “credit mix” (10%).
How does Pay-It-Forward credit repair utilize consumer laws to your benefit?
Contrary to popular belief, credit bureaus make plenty of mistakes on the average persons credit report. Since the passing of the fair credit reporting act in 1970, and legislation such as the Fair Credit Billing Act (FCBA), Equal Credit Opportunity Act (ECOA), and the creation of Consumer Financial Protection Bureau, lenders have become increasingly held accountable for unfair credit practices. The combined effect of the creation of new credit laws and consumer protection organizations has lead to the creation of the private industry of credit repair companies which work to remove inaccurate or unverifiable information from your credit report that may be causing a decrease in your credit score. Ultimately, we become a representative of you, the consumer, and fight to remove improper information from your credit report and keep credit lending companies in check.
How long does credit repair take?
You’ll start seeing results and a boost in your credit score in as little as 45 days. It is true that some credit information will eventually “fall off” of your credit but that process can take months to years. Even so, some credit information may not naturally “fall off” without direct intervention due to common record keeping errors, or business practices. Pay-it-Forward Credit Repair takes a proactive approach to the removal of credit data that would have otherwise effected your credit for years.
What results can I expect?
Removal of inaccurate or unverifiable negative information from your credit report will boost your credit score and start you on the path towards a better credit future. Results vary based on customer, but at Pay-it-Forward Credit Repair we see an average 60-70% of targeted information removed.
How much does bad credit cost?
“A low credit score on a typical auto loan…would increase loan charges by more than $5,000,”- Consumer Federation of America
A bad credit score can be incredibly expensive over time. Studies have shown that the average person with “less than optimal credit” will spend an average of $200,000 dollars more in loan costs (interest rates, account fees etc.) and credit related expenses than a person with “average or above average credit”.
So items negatively effecting my credit will be simply deleted?
Yes! If credit data meets certain requirements, or goes against current consumer credit laws it will be removed from your credit report by the credit bureaus after our intervention.
Can removed items reappear?
“In rare circumstances, items deleted from your credit reports can, in fact, reappear on your credit reports even after the dispute resolution process has been completed. This practice is referred to in the Fair Credit Reporting Act (FCRA) as reinsertion.”- Experian
This process is slightly complicated and something that would be handled by Pay-it-Forward Credit Repair. Reinsertions are simply disputes between what information the credit bureaus determine to be “accurate and unverifiable”. You maintain the right to re-dispute any information that was removed and has reappeared on your credit report, and this is where Pay-it-Forward Credit repair comes in. Items may also be re-added to credit reports in error as a result of automation that credit bureaus use for regularly scheduled credit reporting.
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Pay-it-Forward Credit Repair
Credit is what we do. Having worked with countless clients over the years, we have come to realize that this truly is a credit driven world. We are never taught about credit in schools, yet it is one of the most important aspects of our financial life. We are passionate about educating people while improving their overall credit picture.
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