March 23, 2018

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How Fast Can Your Credit Be Repaired?

How Repairing Your Credit Can Save You Money

Improving Your Credit Score

Quality Credit Repair Companies

The Basics of Credit Repair

What is a Credit Score and Why is it Important?

What is Credit History and Why is it Important?

Why Good Credit Is Important


Top Consumer Reviews Articles provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

How Repairing Your Credit Can Save You Money

Over 220 million Americans have a bad credit rating – and it costs them thousands of dollars each year in the form of higher interest rates on everything from loans to credit cards.

Credit reports have become the gold standard for determining a person’s financial worth. In some instances, employers even use credit reports and credit scores during the hiring process.

There are several ways in which a poor credit history and low credit score can affect finances.

  • Higher Interest Rates. Persons with poor credit reports and low credit scores (between 300 and 500) are subject to higher interest rates for loans. Because consumers with a bad credit history are a higher risk to lenders, an attempt to recoup as much money up front usually is reflected through a higher interest rate. Of course, it’s also possible that loans from various creditors will be denied entirely. When that happens, consumers are left with little recourse.
  • Credit Cards. Approval for new credit cards will be difficult if not impossible with a poor credit rating. Consumers who are lucky enough to get a new card will find themselves saddled with a higher-than-average interest rate, as well as a low spending limit.
  • Vehicle Insurance. Vehicle insurance companies have jumped on the bandwagon of reviewing potential clients’ credit histories prior to agreeing to insure them. Roughly 92 percent of all insurance companies research a customer’s credit history prior to insuring them. Consumers with poor payment histories or a dismal credit score can expect to pay higher premiums. Data indicates that persons with poor credit are more likely to file claims and are therefore a higher risk for insurers. Conversely, those with excellent credit histories and credit scores generally have fewer accidents and tend to pay premiums in a timely fashion.
  • Employment. With 69 percent of all U.S. employers admitting to checking credit reports as part of the hiring process, those with a bad credit history can be left out in the cold when it comes to landing a new job. Under the Fair Credit Reporting Act, employers must first seek permission prior to requesting a potential employee’s credit report. Those who suffer from bad credit or a dismal credit score can find themselves being passed over for new jobs as well as promotions with an existing employer.

Having poor credit is not the end of the world. With a little time and a lot of hard work, a bad credit history can be turned into a positive credit history.

The first step one should take toward repairing a bad credit history is to review copies of your own credit report. Reports can be requested through the three major credit reporting agencies: Equifax, Experian and TransUnion. The Fair Credit Reporting Act mandates that all consumers are to receive one free annual credit report from each of the three agencies.

Consumers with poor credit histories also should consult with a consumer credit counseling service, which can help start the process of repairing credit. These services work by helping consumers to consolidate loans and other debt into monthly payments the consumer can afford. There are many such agencies on the market today, but consumers should be careful when selecting one, as not all are created equal.

Federal Trade Commission warns of credit repair scams

HOUSTON - Scammers aren't just out for your information- they could turn you into a crook. The federal trade commission says criminals are taking advantage of people looking to repair their credit. Watch the video for more insight!

Published:  Wed, 21 Mar 2018 19:20:00 GMT

Quality Credit Repair Offers Credit Card Debt Relief for Struggling Households

Philadelphia, PA -- (SBWIRE) -- 02/22/2018 -- Credit card debt in America has reached epidemic levels, as more and more households take on debt to cover living expenses as wages fail to keep pace with rising rates of inflation. According to a CNBC report ...

Published:  Wed, 21 Feb 2018 23:00:00 GMT

Montgomery credit repair company shut down, accused of deception

A Montgomery credit repair company has been permanently closed for deceptive and illegal practices, according to Alabama Attorney General's Office. Attorney General's Steve Marshall's office reached a settlement with Scott's Credit Repair and its ...

Published:  Mon, 30 Oct 2017 09:29:57 GMT

$2-million settlement ends accusations that L.A. credit-repair firms misled consumers

Credit-repair services promise to help consumers fix their credit scores, but there's only so much they can do. They can help clear up inaccurate or outdated information on a consumer's credit report, but they can't erase legitimate dings. But the Consumer ...

Published:  Tue, 27 Jun 2017 16:30:00 GMT

Keep it good: Understand credit repair

Anywhere you can see with your eyes, there's an advertisement relating to credit repair. It seems that credit repair is a term that you're likely to come across at least one point in your life. But what does it mean, actually Well, credit repair ...

Published:  Tue, 24 Oct 2017 02:10:00 GMT

CFPB cracks down on 'credit-repair' companies

WASHINGTON -- You've almost certainly seen or heard pitches for "credit repair" services promising to clean up your credit problems, reduce your debt, or even raise your credit scores by 100 points or more. Come-ons like these can be especially seductive ...

Published:  Thu, 06 Jul 2017 23:00:00 GMT

How to repair your credit

KNOXVILLE, Tenn. (WATE) - Maintaining a clean credit history is important. Lots of things depend on having good credit. With bad credit, it's tough to get a loan and when you do qualify, the interest rate is high. The tool to hammer your credit history ...

Published:  Tue, 17 Oct 2017 10:18:00 GMT

The Ultimate Guide to Starting to a Profitable Credit Repair Business at Home

If you want to start your credit repair business from the comfort of your home, here is a guide that will help you to get started. Why Should You Start This Type of Business Starting a credit repair business is quite easy and this is the best time to do ...

Published:  Fri, 10 Nov 2017 03:11:37 GMT

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