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Why do you need help with credit repair?

what is a credit score?

11/29/2017

3 Comments

 
3 Comments
Mike Lee
11/29/2017 03:59:16 pm

Credit score comes from a system, creditors use to help determine whether to give you credit. It also may be used to help decide the terms you are offered or the rate you will pay for the loan.

Information about you and your credit experiences, like your bill-paying history, the number and type of accounts you have, whether you pay your bills by the date they’re due, collection actions, outstanding debt, and the age of your accounts, is collected from your credit report. Using a statistical program, creditors compare this information to the loan repayment history of consumers with similar profiles. For example, a credit scoring system awards points for each factor that helps predict who is most likely to repay a debt. A total number of points is used to determine a credit score and helps predict how creditworthy you are, how likely it is that you will repay a loan and make the payments when they’re due.

Reply
Mike Lee
11/29/2017 04:04:45 pm

Your credit report is a key part of many credit scoring systems. That’s why it is critical to make sure your credit report is accurate. Federal law gives you the right to get a free copy of your credit reports from each of the three national credit reporting companies once every 12 months.

The Fair Credit Reporting Act (FCRA) also gives you the right to get your credit score from the national credit reporting companies. They are allowed to charge a reasonable fee for the score. When you buy your score, you often get information on how you can improve it.

Reply
Mike Lee
11/29/2017 04:07:22 pm

Credit scoring systems are complex and vary among creditors or insurance companies and for different types of credit or insurance. If one factor changes, your score may change, but improvement generally depends on how that factor relates to others the system considers. Only the business using the system knows what might improve your score under the particular model they use to evaluate your application.

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  • Home
  • Contact
  • Services
    • Student Loan Options
    • Judgment Removal
    • Tax Lien Removal
    • Charge Off Removal
    • Collection Deletion
    • Credit Deletion
    • Opt Out Pre Screen
    • Chexsystems
    • Dispute Code Removal
    • Late Payment Removal
  • DEBT VALIDATION
    • Fair Credit Billing Act
    • Medical Debt
    • Student Loan Debt
    • F D C P A
    • Mortgage Debt
    • Installment Debt
    • Debt Options
    • The Fair and Accurate Credit Transactions Act
    • Fair Credit Reporting Act
  • Credit Repair
    • Time Lines
    • How Are Late Payments Affecting Your Score
    • Credit Score >
      • The Major Credit Reporting Agencies
    • Collection account removal
    • Clean Up Your Credit Report
    • How Long Do Items Stay On Your Credit Report
    • Ways to Improve Your Credit Score
    • Dispute Credit Report Error
    • How to Fix Your Credit
    • How to Remove Collection Accounts From Your Credit Reports
    • how to fix errors on credit reports
    • Eviction on your credit report
    • Credit Inquiry
    • Your credit report account mix
  • Make a Change
  • Credit Tips
  • Credit Coach
  • Fraudulent Credit Accounts
  • Negative Info Stays On Credit Reports
  • Debt Settlement Companies
  • Credit Score Boost
  • Establishing Good Credit Habits
  • Getting Your First Credit Card
  • HOW IMPORTANT IS A CREDIT CARD
  • How Many Credit Cards Should You Have
  • FAQS
    • Faqs2
  • National Lenders
  • Credit Card Companies
  • Free
  • How credit repair works