Credit Scores


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Every adult in North America has probably heard of the two words ‘credit rating. It affects many important features of modern life. From the moment we open our first charge bill, we enter into the world of credit. it’s like a living, breathing animal following each of us around in the shadows before leaping out into the light then and every now to both support us or hurt us.

FICO

The major source of information for many credit rating companies is a company known as ‘FICO. FICO stands for Fair Isaac Corporation. This company became the type after which the other three companies took their lead and started using formulas for determining credit possibility back in the late 1950′s. FICO uses a proprietary method to determine the likelihood of payment for every person with a credit history. We do know what the credit history factors are, even though the actual formula is not known.

Credit Score Quick Picture

Each consumer’s behavior changes over time and when a bank or insurance company makes an inquiry into a person’s risk report, they get a ‘picture’ of that individual’s situation since it continually changes. Each time a client opens a charge account their rating changes. Each time a consumer overlooks a transaction on a credit account, their rating changes. When a customer gives off a debt, their score changes again. Over time, the exact amount goes down and up a thousand times. what’s essential to understand is where a person’s credit history is at any given time and what could be done to improve that score.

The Credit Score: Good and Bad

Because of constant fluctuation of about twenty points around an average score, people must try to be conscious of where their credit standing sits and what may be done to increase the amount as high a level as possible. Good credit means people have improved job opportunities, get cheaper insurance coverage and pay lower interest rates on loans. A good rating gives better rates, saves money and can even help get a really good job. Bad credit indicates the opposite to the above will occur and more. Poor credit affects chance and lifestyle. No one needs a low credit score that’s the effect of bad credit actions, but they happen and in today’s economy, they happen more and more generally.

Can Bad Credit Become Good Credit?

Yes. Bad credit ratings may increase through the diligence of the consumer maintaining minimal credit balances in their credit records, making payments on time, not over-borrowing and using good credit practices. But there’s a catch bad credit takes a long time while great credit may become bad credit very quickly to become great credit. Fortunately, there are solutions to changing poor credit scores into better results. The answer is called a credit repair company. Credit repair involves a process of verifying the accuracy of information included in each of the three major consumer credit history bureau’s data, validating, and demanding. That data which allows the score stay high is stored and the poor information which lowers a credit rating is removed.

Options For Credit Repair

People may try to repair their credit on their own, nevertheless, the process is somewhat difficult. This involvins debt approval letters, challenging information contained in each of the three credit bureau’s databanks, proof of debt from lenders and other time-sensitive processes. If not done right, can actually result in a lower score rather than the hoped-for higher score. Most people turn to a credit repair company which can perform the intricate duties associated with restoring credit with higher success rates and greater control. Is deciding which credit repair company could actually help them increase their credit score and which organization is only going through the activities without concern for the end result where customers can get distracted.

The Best Credit Repair Option

Certainly, among the hundreds of companies offering credit repair services, there is going to be one organization which stands out from the people. That company will have several years of experience working not only with the credit bureaus but also with the multitude of creditors publishing information to the agencies. Than they really should they would also need to cope with ‘debt purchasers’ who feed upon consumers buying their delinquent accounts from lenders for pennies on the dollar and then using less-than-honorable methods to coerce and intimidate consumers into paying more for those debts. There is only one company with 20 years of experience working with credit repair and there’s only one company with over 500,000 satisfied clients. That organization is Lexington Law.

Who is Lexington Law?

Lexington Law is a legal firm that specializes in helping consumers repair their bad credit. Instead of simply being a credit repair group (like the ones your hear advertised on TV and the radio), Lexington Law is, in reality, a law firm which specializes in being a consumer advocate. A lot of people have the opinion a law firm has the pull to get creditors to listen when it speaks. Lexington knows the laws which govern credit reporting and they use that knowledge to help consumers improve their credit scores as much as possible.

Lexington Law is the biggest law firm specializing in credit repair. They have a large team of lawyers, paralegals, and financial experts who know everything there is to know about how to help you improve your credit score, so that you don’t have to be bound by bad credit. Lexington Law has been helping consumers escape the woes of bad credit for 20 years and they have helped remove millions of negative items from people’s credit reports. More than half a million clients have entrusted Lexington Law to help improve their credit scores.

What Can Lexington Law Do For You?

Lexington Law assists their clients by pursuing creditors to make sure the items reported on their credit reports are accurate. Companies that grant credit to consumers make mistakes all the time – and Lexington seeks out those mistakes and demands they are removed from their client’s credit report. Lexington is relentless in this endeavor as they comb through their client’s credit reports. All it takes is a single stroke of a pen or click of a mouse for credit companies to damage consumer’s credit scores for up to seven years. Lexington Law places the burden of proof back where it belongs – on the credit companies. It’s simple – if a creditor cannot prove you owe them money, the negative item is removed from your credit score. The more negative items removed from your credit report, the more your score will improve.

I Was Helped Tremendously by Lexington Law

I lost my job and as a result I went through some tough times a while ago. Looking back, it was probably the toughest period of my life so far. Between losing my job and going through some other related events, the process left me essentially penniless and I found myself unable to pay some of my bills. Those bills continued to pile up and my credit score plummeted. Finally I decided bankruptcy was my best option for moving forward.

Having a low credit score during this difficult period proved to be a major impediment to me moving forward with my life, so I decided to do something about it. I had heard about Lexington Law from a friend and decided to give them a call. On the phone, I found out about what some of my options were. I decided that I try to repair my bad credit – with the help of Lexington Law. I called the 1-800 number at the site (888-586-1176) and spoke to a credit expert who was very friendly and understanding of my situation.

Once I signed up through the easy process, I was able to see an improvement in my score after only a couple months. Over the first year, my score climbed steadily and it keeps on improving every time I check it. Lexington found there were several errors with my credit report and they went to bat for me to get those items removed. It was so nice to actually have options again concerning what kind of car I drove and what kind of house I lived in. When you have bad credit, you have to take whatever people will give you. With good credit, many more opportunities open up.

I cannot say enough about how much Lexington helped me out. I would never have been able to get out of my financial situation without their help. I wouldn’t have known where to start. It was great to have a team of professionals stepping up to the plate and going to bat for me. Now, whenever I hear a friend is trying to improve their credit score, I suggest they give Lexington Law a call

For more information on Credit Scores, feel free to read our Improving Credit Score section of our Blog or Call 888-586-1776 with any questions.