Credit repair companies specialize in supporting clients with credit-related issues, such as a low credit score, adverse events on their credit file, or a lack of credit history. Our role is to assess your current credit profile, identify opportunities to remove errors or inconsistencies and create strategic plans to help you build an improved rating.
We work with people and families in diverse circumstances, from individuals looking to clean up their credit records before having their credit score for New York City apartments assessed to those recovering from severe debt problems and wanting a fresh start.
Why Work With a Credit Restoration Specialist?
There are many reasons your credit score may not be as high as you like–but there are often proactive steps you can take to augment your score, remove mistakes from your record, or decide how to manage adverse reports on your file.
For example, you might be able to dispute incorrect reports by liaising with the original lender and credit bureau, repay long-term debt, consolidate higher-risk short-term accounts, or implement responsible money management to contribute to an improved rating.
What happens if you don’t pay credit collection services, and how can a credit repair professional help? Unfortunately, ignoring a credit collection agency, irrespective of the reason, will mean your credit score continues to worsen. The right response will depend on the situation, but communicating with the credit collector or raising a formal dispute will protect your credit rating while resolving the issue to prevent a collection agent from contacting you again.
How Quickly Can You Fix a Low Credit Score?
Repairing an adverse credit score takes time, and any credit restoration provider who suggests otherwise is unlikely to be reputable. A detailed analysis of your credit file from all the major bureaus is the starting point. This process enables you to access all the data stored about you and your finances, pinpoint inaccuracies and decide how to move forward.
The next steps might include debt consolidation, gradually reducing the balances on all outstanding accounts, setting up automatic payments to avoid defaults, or more involved credit counseling. However, errors are surprisingly common, often appearing due to the following reasons:
- Accounts showing as open that have been closed: Indications of multiple short-term debts or higher-risk debts such as credit cards or payday loans negatively impact your credit scoring.
- Reports that show a payment as missed when this is untrue: Disputing the error is essential because a credit bureau will not remove this unless they have the information to prove the payment was made.
- The inclusion of accounts you do not own or that belong to somebody else: These may belong to a previous owner or occupant of your home, or an individual with a similar name.
If you are unsure what your credit file shows or whether all the details are correct, it is well worth accessing your report to see where there is room for improvement.
How to Avoid Unethical Credit Repair Firms
While credit repair is an important and useful service for thousands of people, some agencies purport to offer specialist credit repair, often guaranteeing immediate results, which should be avoided. Our recommendations are to bypass any credit repair company that suggests you file inaccurate information, tells you not to contact any of the credit bureaus independently, or does not explain your rights and protections as a consumer.
Quality credit repair experts from The Phenix Group are experienced professionals who follow the legislative and regulatory rules around credit restoration support and will never make false promises or advise you to dispute every record on your credit file, even where you know the reports are accurate.