Improving Your Score in the Windy City
Infamous deep dish pizza, great architecture (who doesn’t love The Cloud Gate?), and a gigantic multicultural city that is a fraction of the cost to live in compared to LA or NYC – need we say more? In addition to the attractive offerings of Chicago’s social scene, the city has a thriving economy, offering a mountain of employment opportunities for its residents. All these great attractions, and yet many Chicago residents are barely treading water when it comes to their credit scores. Chicago holds an average credit score of 648, a wildly low number in comparison to Illinois as a whole, which averages 671.
Creditors and lenders use a scoring system known as FICO®, which analyzes how likely you are to repay borrowed funds and calculates your credit risk. The scoring ranges from 300 to 850 and is determined by evaluating the following areas: your payment history, new credit, debt ratio, length of credit history, accounts owned, and your credit mix. Having a poor credit score is something anyone can experience. When the economy is suffering, you get laid off, or you’re hit with unexpected medical bills, financial hardship can quickly cause maxed out credit cards and unpaid bills.
The Effects of Bad Scores
How Can Restoration Help Your Financial Health?
By leveraging an independent law firm and consumer protection laws, The Phenix group works to challenge and correct outdated or erroneous information on your credit report. We provide personalized and timely support, employing specialized dispute tactics to get bureaus and creditors to acknowledge inaccuracies, ultimately strengthening your credit score. Although creditors profit from poor credit reports, laws like the Fair Credit Reporting Act were enacted to protect consumers like you.
Common mistakes that will lead to bad scores in Chicago:
- Habitually late on payments
- Filing for bankruptcy
- Having an account charged off
- Defaulting on a loan
- Closing old lines of credit
HERE’S WHAT YOU’LL GAIN WITH GOOD Scores
Purchase your first home
Own your dream car
Get a business loan with a low interest rate with good credit
WHAT OUR CLIENTS
HAVE TO SAY ABOUT US
Credit Repair Services
Bad credit can be scary, but it shouldn’t define who you are. The Phenix Group is passionate about liberating people from the fallout and repercussions of carrying around a poor credit score. We help with charge offs, repossessions, debt settlement, dispute code removal, and more, all designed to help you reclaim your lifestyle, land a new employment opportunity, and finally move into that new home you deserve. We provide ethical and professional credit repair Chicago solutions that use regulation and laws to shield you from having to live in a never-ending nightmare of financial hardship. At the Phenix group, we are dedicated to helping you live a headache-free life and achieve your goals.
What is credit repair?
How does credit repair work?
Should I hire a credit repair company?
Credit repair isn’t for everyone. Some companies will enroll customers regardless if they’re a good fit or not. You might not need to hire a company. At Phenix, we offer a detailed credit analysis to determine the best plan for your individual needs - no obligation.
Can a credit repair company really help?
How long does it take to repair credit?
How much does credit repair cost?
If you’re a good fit, attorney-backed credit repair can range from $1,000 - $3,000. It’s always a good idea to get a free credit analysis to see what your options are.