Many consumers in the Jacksonville area have low credit scores because they don’t regularly maintain their accounts or do not have a long enough history of paying bills on time. This is where a credit services company can help. They can offer you a free initial consultation session in which one of their professional credit repair specialists will evaluate your current credit situation and develop a plan on how best to raise it to an optimal level. The credit services specialist will also request copies of your recent credit reports from Equifax, TransUnion and Experian; the three major national credit bureaus.
To evaluate your credit standing, the credit repair services company will need information about your debt and credit history. They will also want to know about other areas that could negatively affect your credit score, such as your state of residence, how long you have been paying bills, your employment history, and whether or not you are renting your home. This information is vital to the credit repair process, since it will allow them to get an accurate picture of where you currently stand. They will provide this information to you free of charge, but will charge you an up front fee if you want a more in-depth credit report on your specific situation.
During your initial consultation, the credit repair company will go over your finances and determine if you have any assets that you can voluntarily liquidate to raise your bad credit score. If you do have some assets that can be taken, you will be asked to pay them down and keep those payments current. Once they have determined that you do not have any poor financial history, they will give you an offer to purchase a brand new credit card. While it is nice to have a credit card, you will want to make sure that the interest rates are comparable to other cards offered at that time and that you have enough money to make the monthly payments. If you don’t, the credit card companies will be more than happy to charge you full retail.
You will be required to show proof of employment before qualifying for a card, so you will want to make sure that you have a recent pay stub from a job that pays at least a little bit. It is also a good idea to contact your employer and ask if there is a way to build up bad credit while still working with them. Many employers understand that people need to rebuild their credit and offer many ways to do this. You will also want to make sure that you stay current on all payments and are current on your monthly car insurance premiums. These two factors alone will account for about five points on your score.
After the credit report has been reviewed and assessed, the credit repair companies will work on your behalf to have all items removed or updated so that your score will reflect favorably. They will also check to see if there are any bankruptcies on your report that should be disputed as well as any court judgments against you. These things can lower your score quite a bit and it is important to dispute them if they exist. This may require that you obtain a new social security card, but you will be able to get them changed within 30 days.
Credit repair services are not hard to find. Many are located in Jacksonville itself, while others are available to anyone who desires to find out more about how credit reports are handled. It is important that all Florida residents take advantage of these services, as the better credit scores will allow you to take advantage of many more options when applying for jobs, loans and insurance. Being turned down for housing and other necessities can affect your life in many negative ways, which is why it is important to be aware and prepared. It is also vital that you start rebuilding your credit records as soon as possible, as the earlier you catch problems, the less chance there is of them turning into major problems later on.