Credit Repair

How to Know When It is the Right Time to Go for Bad Credit Repair

If you have a sneaking suspicion that your credit condition is not very good but are unsure of where actually you stand, it is possibly the time to consider doing a bad credit repair. When you go through that process, you will get a clear picture of how good or bad your credit is and why it is the way it is. You will also get to know about the areas of improvements, which you can work upon to get things better. Following are some of the signs that you have to look out for; these signs indicate that there might be something wrong going on with your credit report.

You Applied for a New Credit Card and Your Application Got Rejected

When banks and other financial institutions are competing hard with each other to get more customers for credit cards, if they have rejected your application, it means there is something seriously wrong going on. The most common reason why a lender may reject an application is that the FICO score of the applicant is not at par. If you are not sure about the exact reason for rejection, you can contact the lender and ask them. If your application got rejected because of certain entries on your credit report, it is a obvious indication that your FICO report needs a bad credit repair on an urgent basis.

You are Unable to Get Electricity or Other Utility Services in Your Name

Utility service providers do a thorough credit check in order to decide if the service should be provided in your name or not. If you are unable to get it in your name, it means there are some negative entries on your credit report.

You are Getting Phone Calls from Collection Agencies

If you have started getting phone calls from debt collectors, it means your creditors have failed to get the payments from you and now they have changed the status of your accounts as “in collection”. Credit bureaus receive information from your creditors and other businesses that you are having a financial relationship with. They creditors will update the bureau about the changed status of your debt accounts and the bureaus will then make sure that the same should get updated on your report. Therefore, collections calls give you another reason to consider doing a bad credit repair.

You are Experiencing Employment-Related Problems

Poor credit history is also very much likely to affect your employment situation adversely. Many employers hesitate to hire those people whose FICO scores are not at par. You may even be denied a promotion because of that even if you are a deserving candidate otherwise. So, if you have started experiencing these types of employment-related problems, this is again a strong indication that you need to repair your credit report.

It is very important for you to keep in mind that a bad credit score doesn’t always mean that you are at fault with your financial activities. A report may reflect a poor score because of some wrong entries. The idea of doing a thorough bad credit repair is also to make sure that the report is free from any such error.


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Posted in Credit History, Credit Repair | 2 Comments »

2 Responses to “How to Know When It is the Right Time to Go for Bad Credit Repair”

  1. Diana says:

    It’s very important for an individual to remain updated with the current situation. There are some quick and easy steps quoted in this article for checking bad credit repair. If your credit card application got rejected this means some thing messy is going with ur credit score . Because credit card comapnies are more willing to disburse credit card with some schemes and if they are not offering u the same this means something wrong is going on and we have to alert with this situation. While applying for some utility services and you are devoid of this service in your name that means some serious steps have to be taken to improve this situation. Because to live in the society the good credit score is a must. So remain sensitize with your monthly installments and pay them on time.

    One more interesting if you are receiving hoax calls from the creditors inferencing the same credit score graph is going down . This will also adversely effect your employment situation serious consequence could be ,losing of a job. Your fresh loan application can be rejected due to lot many reasons if the verification is negative , Document supplied as a supporting measure is fake .

    So its better to apply a loan if and only if the credit situation is better otherwise if you are blacklisted then you cannot apply for loan for a longer period of time.

  2. Robert says:

    Very Edifying and educational points. Poor Credit Condition reflects one’s financial status. Any individual going through the situations mentioned in the article should try to know the reasons behind this and if the reason is credit report then its upsetting situation for you to start some fruitful solutions to repair your credit score. Credit Card can be obtained easily from a bank but if any body’s application is rejected then it s really may be due to bad credit score. Harassing calls from the collection agencies are one or more significant system of poor credit report and it tells you to start the process of repairing your credit report and do the strict improvement in your financial behavior. Credit Score not only affects you for getting loan or utility services but also affects your job. If you are dealing with finances in your job, it is quite possible that you would not be promoted duet to your credit report. It is important for every one if you have bad credit report, go for a thorough check on the entries and if there is every thing fine then try for other options to improve credit score.

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