Credit Repair for Dummies!

If you’ve watched Confessions of a Shopaholic, you would know that falling into crippling debt isn’t as glamorous as Isla Fisher made it seem like! However, it’s near impossible in today’s world to complete boycott from credit cards and in some way or the other we’re always in some kind of debt.

But as easy it is to get into debt, thanks to credit cards; it seems just that difficult to understand how the credit system works, what a credit score is and most importantly, how it can be repaired.

So we’re here to answer all those questions for you, once and for all!

What is a Credit Score?

In simplest terms, your credit score is a unit of measurement against which lenders measure your reliability as a debt payer. However, there are different models of measurement when it comes to calculating your credit score. The most commonly used credit score system is FICO, which was first introduced in 1989 by Fair, Isaac and Co. while most banks and credit grantors use this model to calculate credit scores; there are other models as well, such as VantageScore, etc.

Therefore it’s important to find out which model is being used to calculate your credit scores.

What’s a bad Credit Score?

Although the measurement of credit scores varies by each state, a good credit score usually lays around 670 to 739 (according to FICO model) and 661 to 780 (according to VantageScore model). But that’s not the average credit score, so if your credit score falls below that, you don’t have to worry too much because 61% of Americans have a VantageScore that falls in the Fair score category (601 to 660).

However, it never hurts to improve your credit score whenever you can! But can credit scores be repaired?


How Can Credit Scores Be Repaired?

Sometimes, a bad credit score is just a result of some inaccuracies and obsolete unverifiable items on your credit reports that can be legally removed from your account to increase your credit scores exponentially.

However, credit repair isn’t as easy as it sounds. There are several complications and technicalities involved that can only be handled by a professional. That’s why it’s crucial to get in touch with a credit repair specialist in your area to help you repair your credit and improve your creditworthiness.

The Credit Docs in San Jose, California is a leading credit repair company that can help you if you live in Stockton, Sacramento, Gilroy, Hayward and many other areas in CA!

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