Imagine you have just taken out a loan for your dream apartment with a large terrace. Monthly installments are relatively high, so you pay them back only when you have the funds – you are not particularly concerned about the deadlines planned in the loan repayment schedule. After some time, you want to take out another loan – this time, you found a great car at an attractive price. However, your credit history, and the affected credit score, becomes a problem. It would be good to rebuild the credit and raise your score. The only question is, how?
The above scenario concerns millions of people across the United States. In Illinois alone, the average credit score is 683, with the average credit card balance of ,410 in a typical household. Chicago’s median credit score is only 648, which falls even below the state or national average.
Your credit history can be damaged by delays in the repayment of loan installments, unpaid fines or bills, consolidated payday loans, or a refinanced loan. However, does this mean that credit history is flawed once and for all, and it will be impossible to use the services of banking institutions or loan companies in the future? Undoubtedly not! Thanks to the innovative credit history repair services provided by Pyramid Credit Repair Chicago, each borrower gets a second chance and the opportunity to rehabilitate his own creditworthiness in the eyes of lenders.
What Can A Credit Repair Chicago Do For You?
The credit history contains all information regarding the steps taken by the borrower to incur and repay all financial obligations, including bank loans, personal loans or payday loans, consumer installment loans in stores and other institutions, such as medical or educational establishments, the use of revolving credit cards or any other smaller or larger financial obligations.
With the customized dispute process offered by our skilled and professional experts, you will sleep better, knowing that your credit is in good hands providing life-changing credit repair. The rigorous credit challenging process performed by our specialists entails critical scrutinizing of credit reports, holding creditors accountable for any misrepresentations. Your assigned live credit expert, available to you via means of the portal, email, phone, and text message, will assist with any personalized disputes and questionable credit activity, making the process effortless for your benefit.
Analyzing your credit report is a critical step in pinpointing any damaging activity and issues that consequently keep your credit score low. Continuous monitoring of your credit allows for a quicker and effective solution, keeping you on track to fully achieve your fiscal and otherwise goals. Financial literacy is essential in understanding how credit works, what may contribute to its mishandling, and how to prevent future mishaps and consecutive debt. Our financial advisors will educate and provide the necessary resources to help you achieve the ultimate level of comfort and well-being.
The Work In Progress
It is essential to understand the process of credit repair before engaging with a company offering such services. Credit repair Chicago company is dedicated to taking you through the process before starting to work together.
Free consultation with a skilled credit expert will provide a thorough background related to their expertise, ensuring their knowledge and experience will help you achieve your financial goals. The initial meeting is a fundamental step to creating a professional and valued client relationship, determining whether the company is the right fit for your specific needs.
During the consultation, you may be required to disclose any essential and personal information, such as a social security number, in order to obtain your credit report for further analysis with the permission to request a copy of the document. The credit consultant will then investigate the drawn report with scrutiny, pointing out any negative details that may be potentially impacting your credit score and hence being denied by creditors an opportunity to take out loans. The overview of the credit report will provide an essential workspace for the credit repair team.
A proficient and experienced account manager will design an elaborate and detailed plan of action to guide you thoroughly through the process and immediately begin executing the derived strategy. The main focus of the credit repair approach is to monitor and analyze the drawn credit report continuously, dispute any negative information with all three credit bureaus, educate the client to help him obtain financial literacy, and make progress towards transforming the fiscal affairs in order.
Who Benefits From The Professional Credit Repair The Most?
Three groups of people most often use the credit history repair service:
- the first group includes people who previously took out loans or credits, but did not pay their liabilities on time, which resulted in debt and low credit score;
- the second group concerns people who have never used credit or loan services, so their credit history is neutral or, in other words, “clean.”
- the third group is related to people who have a positive credit history but want to get better credit terms.
In both the first and the second cases, borrowers need positive information in their credit reports that will allow them to use loans in the future. Indubitably, banks and other financial institutions are more suspicious of consumers who have unfavorable credit reports entries.
The situation is different when the credit history is neutral, and the customer simply has no credit experience. It can then be corrected by even one positive activity about a loan or credit taken out and repaid on time. However, building a reliable and reputable credit history takes time, sometimes even years, to obtain a high credit score guaranteeing satisfactory financial outcomes.
The third group of people often does not have adverse credit experiences but does not show high creditworthiness due to the low number of repaid loans or credits. By continuously building a credit history, the client can count on even better conditions, most likely offered to him by lenders, who perceive a person as a value to financial institutions, frequently utilizing his credit capabilities.