Boost Your Score & Achieve the Lifestyle You Deserve
New York City is a melting pot of diversity, with dozens of citizens hailing from other states and countries. The fast-paced lifestyle, 24-hour hustle, and vibrant culture of the Big Apple offers a variety of attractive benefits for young professionals and families of all backgrounds and sizes. Interested in a booming economy? Evening at a Broadway show? Grand Central Station in your backyard? There’s virtually every store or shop you need within a three-block radius of every living space, making for a conveniently addictive lifestyle for many residents.
Despite the extremely low 4% unemployment rate in NYC, residents are still struggling with high credit card debt and an average credit score of 697. For those New Yorkers who are battling financial instability, there’s no way to truly enjoy all the Empire City has to offer. This three-digit score is determined by a formula devised by a popular system known as FICO®. In order to calculate your credit score, FICO® analyzes your outstanding balances, payment history, debt ratio, types of credit lines you have, length of your credit history, and any new credit lines you’ve established.
The problem with having a low credit score is that creditors and lenders will consider you a high-risk borrower, making it extremely difficult to purchase a new car or buy a new home. When your purchasing power is stripped away, it can feel like a dark cloud has positioned itself over your head, following you wherever you go. While having a poor credit score will have a negative impact on your life, it’s not something that has to define you forever. The Phenix Group has designed individualized credit repair NYC solutions to help New York residents rebuild a healthy financial picture and improve their credit scores in a timely manner.
The Unexpected Pitfalls of Bad Credit
Everyone can make a mistake or face an unexpected hiccup that causes their credit score to plummet. When your ability to repay a loan or pay your bills on time is wrapped up into a number that determines your creditworthiness, a bad score can mean lenders refuse to do business with you. What may seem like an insignificant blunder, like missing a few car payments, can actually result in higher insurance premiums, denied mortgage applications, and extra fees on your utility bills. With more and more dollars being tacked on, it’ll only dig you further into a black hole of debt. Achieving your goals means elevating your credit score and getting your financials back in order.
Making the ReStoration Process Work for You
At the Phenix Group, our attorney-engaged credit repair services are tailored to fit each of our client’s unique challenges and goals. Our credit specialists will gather and assess your consumer credit records to build a solution specific to the items found on your reports. By pinpointing inaccurate, outdated, or unverifiable information, including incorrect personal details or lender reporting errors, our analysts can challenge and remove these errors to boost your credit score. There are many instances where a report may contain a negative record that originated from a lender that is no longer in business. When this occurs, the reported information can no longer be verified, which is why we’d work to have it removed.
The Phenix Group’s credit specialists will negotiate on your behalf, calling upon consumer protection laws and our long-standing industry experience to help rebuild your financial standing and free yourself from the restraints of a poor credit score. It may not seem like a loan or credit card could possibly impact getting a new job or home, but it means everything. Landlords will see you as a risky renter and one who is potentially unable to pay your rent every month if your report shows payment delinquencies. The good news is, you don’t have to run away from debt collectors, experience revoked job offers and denied applications, or pay high interest rates once you work with The Phenix Group.
Common mistakes that will lead to bad scores:
- 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 CREDIT
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
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.