How Do You Know If You Need Credit Repair?
May 29, 2014
When we speak to people a lot of times they are unsure if they even need credit repair. Maybe they haven’t attempted to purchase anything recently so they have no idea what their score is or what is on their credit reports. Most people don’t even know that every person is entitled to a free copy of each of their 3 major credit reports every year. The Consumer Financial Protection Bureau (CFPB) actually found in a recent study that less that 25% of adults pulled their credit reports in the last year. This is quite scary when you consider that the CFPB also found that nearly two thirds of all credit reports have errors on them. That means a lot of people have credit scores below where they should and they don’t even know it.
Here at CRE Credit Services, most of the people we talk to wait to take care of their credit until they declined for a purchase, be it a car or house. The problem with this is that credit repair, when done right, isn’t an overnight process. Our program takes about 6 months. That means if you have found the house of your dreams, maybe the perfect one to raise your family, you won’t be able to get it. Odds are in 6 months it will be gone and sold to someone else. You will have to start looking for a home all over again. And anyone who has ever gone home shopping knows how stressful that can be.
This is why we recommend being proactive. If you don’t know what is on your credit reports you can visit www.annualcreditreport.com to get a free copy from Experian, Transunion, and Equifax. On your credit reports you should be able to see what information is being reported and be able to verify that it is accurate. Now your credit reports won’t tell you what your score is but it can give you a good idea if you have overall good or bad credit. If you are having trouble reading your credit reports you can always give us a call and we will have a credit analyst go over everything with you. If you do find errors on your reports then you should definitely give us a call and we can get your started on raising your score.
Remember knowledge is power. Knowing what is on your credit reports and knowing your credit score before you look to buy a home or car puts you in a great position. You will be able to know what you can be approved for and this will take away a lot of hassle and stress.