A professional credit repair company is what you need if you have a bad credit score; and in this article, I'll be showing you how to improve your credit score fast in the US. Also, we'll be doing a quick Credit Firm review.
Before we begin with all the details, let us first understand what “Credit Firm” is all about; that will help you understand better what we are talking about in this article, okay!
What is Credit Firm?
The company known as Credit Firm was established in 1997 and has been helping consumers improve their credit scores in the USA (credit score usa). The team that founded this company comprises attorneys, specializing in consumer credit and FCRA violations.
They have the knowledge and wherewithal to advocate on your behalf against credit reporting agencies and credit furnishers in order to achieve the type of results that will allow you to build a strong financial foundation and move toward a more prosperous future – credit repair.
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What is the Cost of Bad Credit?
In case you do not know, having bad credit can close doors and limit you from obtaining financing boast through sub-prime means, resulting in excessively high-interest rates and towering monthly payments.
Good Credit VS Bad Credit
Just take a good look at the difference good credit makes:
Benefits of a Good Credit Score
Having a good credit score is very beneficial and it is something you can achieve today, even if your current credit score is very bad. All you need to do is sign up for an account with credit firm and the rest will be taken care of – credit repair.
Here are some of the benefits of having a good credit score:
- Low-interest rate mortgage
- Apartment with no security deposit
- Low-interest-rate credit cards
- Low-interest/No Down Payment Auto Loans
- Have extra money at the end of the month
- Low Auto Insurance rates
- Qualify for a low-interest Personal Loan
- Qualify for an SBA Loan to start a business
- More employment opportunities
- Confidence
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Credit Firm Review [How To Improve Credit Score Fast in the USA]
Just like we have pointed out earlier in this article, Credit Firm is one of the best credit repair companies in the USA, and with their services, your bad credit will be turned into good credit in no time.
Credit Firm Services
1. LEGAL IN-DEPTH CREDIT AUDIT: They will go over your credit report with a fine tooth comb breaking down every account to determine the best course of action to take in order to optimize your credit score and help you attain your goal in the minimum amount of time.
2. UNLIMITED CREDIT BUREAU CHALLENGES: No matter how many accounts you have on your credit reports, you will only be charged a low monthly fee of $49.99.
3. UNLIMITED PROCEDURAL REQUEST VERIFICATION: Verifying that the credit bureaus are complying with the law by verifying your account through an acceptable verification procedure is one of the strongest tools in the credit repair process.
4. UNLIMITED PERSONAL INFO VARIANCE CHALLENGES: Too many Personal Information Variances do impact your credit score negatively. Credit Firm will work to remove multiple names, addresses, employers, and other personal information variances.
5. UNLIMITED GOODWILL INTERVENTIONS: A friendly intervention that leverages your current upstanding relationship with your creditor in an effort to positively impact the past payment record and reporting on your credit report.
6. UNLIMITED ESCALATED INFO REQUESTS: This mildly confrontational intervention requests documentation and proof of a creditor's compliance with various consumer protection statutes, or a change to the way it is reporting an account on your credit reports.
7. UNLIMITED DEBT VALIDATION: This highly aggressive intervention enforces your Consumer Rights by demanding a complete accounting of the account in question including copies of the original signed application/contract, previous statements, and other documents asking the creditor to prove your liability in depth.
Credit Firm Pricing
They do have a very fair pricing plan. Below is a preview of the pricing plan for both individuals and couples:
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Frequently Asked Questions
Factors That Affect Credit Score
These are the factors that affect credit scores:
1. Your Payment History
Payment history is the most important part of your credit, accounting for 35% of your credit score.
Making late payments, incurring collections, charge-offs, or other derogatory information severely lowers your credit scores.
Paying your bills on time and putting together a payment history of on-time payments helps increase your credit scores.
Here is a list of the negative items which will hurt your payment history and lower your credit scores:
- Late Payments
- Charge-offs
- Collections
- Accounts included in Bankruptcy
- Foreclosures
- Repossessions
- Judgments
- Tax Liens
- Bankruptcies
Any of these accounts reporting on your credit reports will lower your credit scores.
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2. Amount Owed
30% of your overall credit score is calculated from the amount of credit you're using and how much debt you owe.
This includes:
- The total amount owed across all accounts
- The amount owed on specific types of accounts
- Number of accounts with balances
- Credit utilization ratio on revolving accounts
- Remaining amount owed on installment loans
The two most important parts of the amounts owed are the available credit on revolving accounts (credit cards) and the proportion of installment amount owed in relation to the original loan amount.
The balance owed on installment accounts, such as mortgages and auto loans, should ideally be 49% or less of the original loan amount.
Considering the difficult nature of paying down an auto loan or mortgage this is the most difficult aspect of the FICO score to control but, no one expects you to pay down half your mortgage to boost your scores a bit.
This is why the largest part of “Amounts Owed” focuses on your revolving credit utilization.
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3. Lenght of Credit History
Length of credit history takes into account how long your credit accounts have been established, including the age of your oldest account, the average age of all your open accounts, and the age of specific types of accounts.
Your credit score benefits from having open accounts with an average age of at least 24 months. The older the accounts the better, this all comes back to stability.
Someone with 3 credit cards they have had for fifteen years and a mortgage that's over ten years old is going to look more stable than someone who just started establishing credit 3 months ago.
4. Credit Variance
Mix or credit, also known as credit variance refers to the variety of debt you have reporting on your credit reports. Being too heavily indebted to only one type of debt may lower your credit scores.
Ideally, you should have a healthy mix of both installment and revolving accounts.
Installment loans are loans with a set length of a term like mortgages, auto loans, personal loans, student loans, etc….
Revolving loans, on the other hand, are loans where the balances can either be paid off in full at the end of the month or revolve into the next month like credit cards, lines of credit, or home equity line of credit (HELOC).
In order to maximize your credit scores, it is imperative that you have at least 2 different installment loans and at least 3 different revolving credit items.
NOTE: Your mix of credit will become a much more important factor if your credit report doesn't have a lot of other information on which to base a credit score.
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5. New Credit & Enquires
Several factors are calculated when considering the impact new credit has on your credit scores. This includes how many new accounts you've recently opened and inquiries.
Recently opened accounts consider how many new accounts you have opened up within the last 2 months.
According to FICO, “research shows that opening several credit accounts in a short period of time represents greater risk – especially for people who do not have a long credit history.”
Every time you open a new account your credit scores drop a bit to stop you from establishing too much credit at once.
What does this mean for you?
Establish your credit slowly and don't panic if your scores drop after you open up a new account, the score will come back up within a few months.
6. Personal Information Variance
The personal information variance in your credit reports is by far, the most overlooked and underestimated part of your credit.
Most people feel that your personal information does not impact your ability to obtain credit.
They feel this way because the three credit bureaus (Experian, Equifax, and TransUnion) have stated that, “[Personal] information such as race, gender, where you live and marital status is not used in credit scores.” – Experian. And that is absolutely correct.
FICO scores don't take into account whether you are male/female, white/black/purple/etc…, live in a high-income crime-free neighborhood or a low-income high crime neighborhood. But, your personal information variances CAN impact your ability to get credit.
What are these variances?
Names, addresses, phone numbers, employers, and social security number variances.
What do you think happens when a lender pulls your credit reports and discovers you have 2 social security numbers in your credit file?
This is actually more common than you would think.
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Other Credit Repair Companies
Here's a list of other credit repair companies you can check out today:
Conclusion – Improving Credit Score USA
It's time for some credit repair. I sincerely believe that this credit firm review has shown you the possibilities of improving your credit score. All you need to do right now is visit: www.creditfirm.net and create an account today.
If you are not satisfied, you can check out other credit repair companies mentioned above. They can help you fix your credit score USA.
If you have any questions or comments, please feel free to drop them in the comments below and also share this article on social media to help someone else.
Reference
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