Frequently Asked Credit Questions

Can I repair my credit without hiring a company?

  • Yes,  credit improvement can be done without hiring a credit repair company. In fact, although it may be more time consuming it would be more affordable if you are on a restricted budget. However, if you have no idea where to start it is highly recommended that you speak with a professional Certified Counselor for coaching. Avoid sending generic dispute letters found on the internet. There has been an increase in legal lawsuits being filed against consumers.

What type of accounts can I get removed from my credit report?

  • Any account that is incomplete, inaccurate or a result of Identity Theft can be removed from your credit report. However, it is important that you understand that a removal does not take away your responsibility to repay the debt. The account can still be sold or reassigned to a debt collector unless it has been paid. 

I’m being sued. What should I do?

  • Sometimes creditors will threaten to file a lawsuit. You’ll know if you’re being sued if you get a subpoena or a court summons. If that happens, contact an attorney as soon as possible for representation.  Click HERE to sign up for LegalShield Services.

What do I need to buy a house?

  • Most lenders will require a 620 average FICO score to qualify for a FHA or Conventional Loan, 2-years of consistent employment history, two consecutive tax returns and W2’s for you and any co-applicants.

Should I pay collection accounts?

  • Paying a collection account will stop the creditor from harassing you with phone calls you and will help improve your payment history. However, it will not remove the account from your credit report.  All debts should be verified, validated and determined that the debt collector is licensed & bonded in your state of residence. 

What a makes up a perfect credit profile?

A perfect credit scores includes:

  • 0-9% Credit Usage
  • 100% Payment History
  • No derogatory or collection accounts
  • 9+ Credit History
  • 21+ Total Positive Accounts
  • 0-2 Inquiries
  • Credit scores range from 300-850. Of course, 850 being the highest!

How can I establish or build credit if I do not have any?

  • Order a copy of your credit report. Click HERE
  • Open a secured credit card if you have no active revolving credit. Click HERE
  • Open an installment account if you have no active account. Click HERE
  • Open a line of credit if you do not have or if your credit cards are over the credit limit. Click HERE
  • Pay your bills on time. After 30 days of non-payment you are subject to negative credit reporting.
  • Keep your balance under 10% of your available credit limit.
  • Pay your balance in full by your due date if you can to avoid paying interest.

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