We understand that having a good credit score means that we'll have an easier time getting a credit card or lower interest rate on a mortgage or other type of loan. However, we may not know exactly what contributes to a poor credit score and when we might want to seek the help of debt counseling or credit repair services.
HOW IS MY CREDIT SCORE DETERMINED?
Your credit score is calculated by the three major credit bureaus (Equifax, Experian, and Transunion) using information from your credit report. The three major credit bureaus track your credit reporting information separately and so the information may vary providing you with different credit scores.
In addition, the credit bureaus use their own formula when calculating your FICO credit score which may also account for differences.
WHAT CONTRIBUTES TO A LOW CREDIT SCORE?
No one wants to have bad credit. New negative items can have a huge negative impact, especially if there are a number of items over a short time period.
Things such as late payments and charge offs can send your credit rating tanking. In addition, if you have high credit card or other balances in relation to your credit limits this can lower your credit score.
If any of these circumstances is impacting your credit reporting, you may want to consider credit restoration from a reputable credit repair company.
If you live in Hollywood, Fort Lauderdale, Miami, Miramar, Biscayne, Boca Raton, Pembroke Pines, Broward, Davie, or Miami Beach, a Florida credit repair specialist can provide you with financial services aimed at helping you to restore your good credit.
A quick Google search for the best credit repair companies will provide you with numerous law firms and other credit repair companies located conveniently to you. Many will offer you a free consultation to help you up and running quickly.
Hamilton Credit Repair located near Stirling Road is located near the beach making it convenient to you.
There are also locations at 3529 Griffin Road in Fort Lauderdale and on Hollywood Blvd, meaning that you can get help no matter where you are located in the South Florida area.
However, be careful. Not all credit repair companies are created equal
When you are looking for a credit repair specialist, seek out someone who will provide you with a detailed explanation of the credit repair process along with what they will charge for their services.
While cheap credit repair companies and those who do not follow industry best practices, can do more harm to our personal finances and credit score than good, companies that charge high upfront costs and ridiculously high set up fees should also likely be avoided.
In addition, the best credit repair companies will follow the guidelines outlined in the Credit Repair Organizations Act and make sure you are aware of your rights under the Fair Credit Reporting Act. This includes information on where you can obtain a copy of your credit report, ways you can review your own information, and how you could choose the DIY route in repairing your credit report on your own.
If you are looking for help with restoring your good credit, selecting the right partner is an essential step as your financial future and credit profile are at stake.
Be sure to ask questions and know exactly what you are paying for before signing on the dotted line with any credit repair company.
If you have any questions about finding the best credit repair in Hollywood Florida , understanding what types of items impact your credit score, or you would like to learn more about our services, please feel free to contact us for more information.
