What constitutes a bad credit score? Well, the experts agree: anything over 720 is good. If your score is over 800, congratulations: your credit score is excellent, and you’ll have no trouble getting approved for high loans with low interest rates. But if your score falls between 640 and 700 it’s only fair, and if your score is under 640, you’re in trouble. Generally speaking, improving your credit requires you to request a copy of your credit history, and then if there are any open debts listed on the report — such as an unpaid small loan or delinquent credit card payments — you will need to take care of them right away. Also, it’s important not to check your credit score repeatedly, as each check can potentially lower your score.
But what do you do about really bad credit scores? If your score is truly in the tank, you may wish to consider the services of a credit repair company to help you get that number up to a range that gives you the opportunity to be approved for loans, even if those loans come with high interest rates and short repayment periods. But if you let a credit repair company do their magic, you’ll find that your credit report will be significantly cleaned up, and your score could even make it to the fair or good range.
So how can a credit repair company help you? Well, just click here for Lexington Law reviews for a prime example. Credit repair companies do exactly what their names imply: by obtaining copies of your credit report, going over each reported item in detail, contacting all creditors, lenders, and debt collection agencies, and checking up on every single listed item, they will work diligently to have erroneous entries removed, and will do whatever it takes to minimize the damage that other reported delinquencies and write-offs can cause to your credit score.
In addition to helping you fix your credit, credit repair companies provide valuable credit and general financial advice. You’ll learn how to better budget and control spending, what loans and lenders to avoid, and how to make small changes that can dramatically improve your credit score over time.