The Corridor Paper

When it comes to your credit, how do you SCORE?

In today’s economy, your credit score is the most important 3-digit number you possess. It plays a vital role when it comes to finances, lending, employment, and even housing approval. Your credit score is also used as a basis to determine insurance rates for your home and automobile.

According to Experian, one of the nation’s credit reporting agencies, your score is divided into five categories: Excellent 800-850 (20%), Very Good 740-799 (25%), Average 670-739 (21%), Fair 580 -669 (18%), and Poor 300- 579 (16%). Yet 29% don’t know their credit score. Many consumers are living with bad credit, a bad credit score is anything below 620 which might cost you hundreds, if not thousands of dollars in interest charges but can also make getting approved challenging.

If you’re affected by poor credit, all hope is not lost. You may attempt to repair your credit yourself which can seem time consuming and arduous, or you may employ the services of a qualified credit repair company. If you choose the latter, credit repair is legal and is the process of disputing erroneous, outdated, unverifiable information found on your credit report. Under the Fair Credit Reporting Act (FCRA), if the information is not 100% accurate, verified, and timely it must be removed.

The information reported to the credit bureaus is sometimes flawed. A study conducted by the Federal Trade Commission (FTC), a government entity put in place to protect consumers, discovered that 79% of consumers have errors on their credit report; that accounts for over 40 million people. If you are one of the 79% of consumers that may be affected by erroneous items on your credit, you may first start by obtaining your free credit report from the three credit bureaus by visiting annualcreditreport.com or myfico.com where you’ll review your report and dispute the findings with the bureaus.

At Pivotal Credit Repair, our goal is to challenge those errors, getting them verified or removed, potentially raising your score, saving you money as well as giving you the buying power you deserve. If you are recovering from divorce, bankruptcy, foreclosure, or simply want to improve your overall credit, let our board-certified credit repair specialists dispute those items or you. We also offer budgeting and credit building services. Please feel free to visit us on the web at pivotalcreditgroup.com or call us at 239-600-0189 so we may discuss your unique situation, goals, and how our services may help. Pivotal Credit Repair “Restore your credit and your peace of mind”.

 

 

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