Los Angeles Residents: Resolve Your Credit Problems Today
California is not only the most populated state in the U.S., with nearly 39 million residents, but its economy is a beacon of strength and significant power for our country. Los Angeles, in particular, is a city of transplants, exploding job growth (thanks to companies like Google, Facebook, and Warner Bros), and countless days of sun-filled weather. With the average rent of a one bedroom apartment at $2,068 and median home price of nearly $800,000, it’s no wonder that footing the bill for such an expensive lifestyle has resulted in LA residents having a low average credit score of 668.
Creditors, credit card companies, and lenders use a scoring formula known as FICO® to measure the likelihood that you’ll meet contractual obligations and pay bills in full and on time. To evaluate your credit risk, the FICO® system uses the length of your credit history, debt ratio, payment history, credit mix, new credit, and accounts owed to calculate a score ranging from 300 to 850. For those slathering on sunscreen each day to protect themselves from the hot LA sun, having a poor credit score isn’t something you have to carry with you for the rest of your life. Financial freedom is possible.
Many people are embarrassed to speak up about bad credit because they believe they’ll be judged and classified as irresponsible. Buying into this stigma will only send your financial health spiraling even further downward. With life comes unexpected circumstances, like a sudden hospitalization that results in a tower of overwhelming medical bills. Even a few poor mistakes made during your youth can accompany you into adulthood, lead to financial instability, and cause your credit score to plummet. Regardless of the events that led to your poor credit score, there’s good news. The Phenix Group has designed a number of credit repair solutions tailored to help Los Angeles residents improve their score and reclaim their lives.
The Low-Down on Bad Credit
Between the luxurious beachfront Malibu homes, the eclectic Venice Boardwalk, and the glitz and glam of Rodeo Drive shopping, it’s not hard to find yourself with a maxed-out credit card and a persistent debt collector knocking at your door. Keeping up with Los Angeles living expenses, your social calendar, and the overall pricey nature of living in the City of Angels is no easy feat and we often overlook the consequences of each financial decision we make. The truth is, however, creditors and lenders monitor every purchase and finance-related choice you make to determine how reliable you are to pay back loaned money.
If you’ve filed for bankruptcy, find yourself regularly making late payments, defaulted on a loan, or have had an account charged off, it will reflect poorly on your credit score. While these are common, and sometimes unavoidable mistakes, they still greatly interfere with your financial health and will keep lenders from wanting to work with you. Even minor goof ups, such as closing an old line of credit or habitually maxing out your credit cards can cause you to inherit the label of a high credit risk.
Once your credit enters dangerous territory, it’ll be hard for you to truly enjoy the LA lifestyle when your loan applications are denied and your interest rates are through the roof. But, guess what? A bad credit score isn’t permanent. Through strategic credit restoration practices, you have the opportunity to regain your financial health and improve your credit score.
The Inside Scoop on the Credit Repair Process
When you have inaccuracies parading across your credit report, employing a credit repair service will help eliminate these errors. Whether a lender made a reporting error or there’s personal information listed incorrectly, The Phenix Group specialists and our team of attorneys will work to remove and amend these items, strengthening your credit score and ushering you towards achieving a healthier financial picture. Our analysts have mastered navigating through consumer-related rules and regulations and will act as your advocate when negotiating with creditors on your behalf.
The Phenix Group will collect all three of your credit reports from TransUnion, Equifax, and Experian and analyze the information to sift out errors. Did you know, if your report includes a negative item from a lender who has since gone out of business or been acquired by another company, that the claim can be disputed as unverifiable? This is one of the many professional and ethical solutions our credit specialists use to restore your credit to good standing.
Like a bad case of the flu, a poor credit score can severely run you down, limiting your financial health and mobility. Instead of living with the stress of debt on your shoulders or passing up that great little apartment by the beach, you can start implementing credit restoration today so you can ditch the detour and get back on the highway to success.
Common mistakes that will lead to bad credit:
- Habitually late on payments
- Filing for bankruptcy
- Having an account charged off
- Defaulting on a loan
- Closing old lines of credit
LOS ANGELES, HERE’S WHAT YOU’LL GAIN WITH GOOD CREDIT
You don’t have to leave the Lone Star State to improve your credit score. Our unwavering commitment to helping people reverse poor credit and realize financial security has inspired us to design personalized and attorney-based Los Angeles credit repair solutions to help you find success.
Purchase your first home
Own your dream car
Get a business loan with a low interest rate
WHAT OUR CLIENTS
HAVE TO SAY ABOUT US
Los Angeles Credit Repair
Unlike peanut butter and jelly, poor and credit score are not a delightful combination. Being branded with a bad credit score can completely derail your life. The Phenix Group’s credit restoration services are built on the belief that you shouldn’t have to carry a few financial mistakes along with you year after year, becoming a powerfully defining aspect of your life. Whether you need help with a loan consolidation, debt settlement, bankruptcy, or dispute code removal, we work as your advocate, rectifying poor credit scores and ensuring you can enjoy all the Big Apple has to offer.