An impressive credit score opens up many doors for you; it can help you buy your dream house, make your way to the best university, and even qualify for a good job! In a nutshell, your credit score serves a lot more purposes than just making you eligible for loans.
And when it comes to your credit score, the role of a credit repair company is vital. Here’s how these services help you:
Step 1: Credit reports
All credit repair services start the process by first obtaining your credit reports from the three main credit bureaus in the US. These are Equifax, Experian, and TransUnion.
They will conduct an initial consultation where they’ll review your report and tell you if they’ll be able to help you. A credit report is a statement that’s generated by these credit bureaus that has information pertaining to your credit activity, score, and current credit situation.
Step 2: Analyze the reports
There are five main types of entries that make your credit reports look unimpressive. These are
- Tax Liens
- Civil Judgments
Other than these, your credit score experiences a drop if you don’t pay your dues on time, miss one or two payments, or don’t pay at all.
This is because a credit score represents a person’s ability to pay. The agency will analyze these reports and see whether there are any entries that can be corrected.
An entry can be particularly misleading or miscalculated if it’s differently represented in all three reports.
Step 3: Challenge the bureaus
If all three agencies don’t have the same information, there might be something wrong. This is because each bureau has its own set of affiliated data furnishers. The term data furnishers refer to industry experts, credit unions, lenders, and loan institutions.
The agency will then collect any supporting documents from you that might support the claim and make your case stronger. Once the errors have been identified, the reports are sent back to the bureaus, along with the documents. The agency then works with the bureaus to remove the negative entries and consequently improve the credit score.
As far as credit repair is concerned, Masters Credit Consultants are the best in the business. Call us at 1-844-620-8786 and we will help you obtain the credit score that you’re aiming for. We are offering our services in Richland County, SC and Greensboro County, NC.