Essential Things that You Need to Know About Credit Repair

Everybody is trying to have good credit nowadays since it is very challenging when you have bad credit. Bad credit will not let you get approved for many loans and new credit applications. Most financial institutions will see people with bad credit as high-risk borrowers, often rejecting their credit applications outright.

Since companies decide whether to do business with you or not based on your credit score, repairing your credit is necessary to have an easier time financially. These companies even set their pricing based on your score. You may go about rebuilding your credit in several ways so here are some of the most important things that you should know about credit repair.

It’s about your credit report, not about your credit score.

Most of us think that credit repair is about watching your credit score go up. However, credit repair is actually about improving the items that are on your credit report. These items are often information found on your credit history, like the number of credit accounts that you have, the number of hard inquiries on your credit standing, any late payments, bankruptcies, lawsuits, and judgments. These can be negative or positive and are the basis for your score, so removing the negative information is the goal or credit repair.

Having the results will take time.

It’s not an overnight process. The dispute process alone can take up to 30 days. Any other steps that you take, like reaching out to your creditors, can take even longer. Your score may also dip and rise during the process as the information on your report is being modified.

You can choose to do it yourself.

Virtually every service that a credit repair company offers, you can do yourself. You just need a working knowledge of the credit laws and the basic processes of starting credit repair. As stated previously, removing negative information is the ultimate goal of credit repair. You can do this yourself by filing credit report disputes or validating your debts. You may be able to save money when you repair your credit without professional help.

It’s tough to remove accurate negative items on your credit history.

Please note the operative word “accurate”. Credit reporting bureaus are only obligated to remove any incorrect or inaccurate reported credit information. It doesn’t matter if this information is negative or positive, as long as it’s not correct. For accurate negative items, it’s much more difficult. For items like a collection account for a legitimate debt, you will need to get in touch with your creditor and validate that debt, pay to have it removed, or request to delete the record out of goodwill. Yes, these are tough options but your other choice is to wait for years to have the record removed.

It certainly isn’t an easy undertaking to rebuild your credit. It takes a lot of experience and knowledge to be able to do things correctly and legally. If you don’t have the time or knowledge to properly repair your credit, it’d be much better to entrust the process to Blue Water Credit. Our experience is second to none, brought about by years in the business and our knowledge of credit laws. Make credit repair easier by dialing (916) 315-9190 or visiting and scheduling your consultation now. Our expert analysts are waiting for you.