Credit can be a tricky subject, and while we do our best, we can only answer so many questions on one page. If you can’t find what you’re looking for, feel free to reach out.
A credit repair company will help identify errors on your credit report, provide score optimization guidance, and manage the dispute process. But there is more than meets the eye.
It depends on the type, amount, and the creditors that own the debts on your credit reports.
Standard Credit Repair Process Timeframe:
Credit repair is not a cure-all, but if you are concerned about the accuracy of your credit report and want to raise your scores, you’re in the right place.
Bankruptcy can decrease your scores up to 240 points
Late payments can decrease your scores up to 80 points
Collections/Charge-Offs can decrease your scores up to 50 points
Maxed out credit cards can decrease your scores up to 10 points
Foreclosures can decrease your scores up to 160 points
It is very unlikely that the deleted negative items will reappear on your credit. However, there is a 10% chance that a deleted negative account will reappear if it is sold to a new creditor.
If a deleted negative item reappears on your credit a new credit repair dispute process will be advised.
It takes 2-3 years to build a business credit profile sustainable enough to leverage separately from your personal credit. Meanwhile, that your business credit profile is building, you can leverage your personal credit to fund your business as long as you understand the risk.
Leveraging your personal credit will allow you to fund your business faster.
However, if your business fails it may negatively impact your credit report which may cause financial hardships. Utilizing your personal credit may increase your DTI percentage.
A credit sweep is disputing all your negative items on your credit reports at once using the most aggressive dispute methods.
Seasoned tradelines are accounts that have 2 years or more of excellent payment history. Seasoned tradelines are beneficial because once you are added to the seasoned tradeline so is the payment history associated with it, which will increase your credit scores. The credit score increase depends on the mixture of your credit profile.
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