Signs that indicate you are in urgent need of credit repair.
If you’re here, it’s because you need some kind of help having to do with your credit and possibly you’ve been dealing with bad credit, declined loans and possible calls from lenders. These may be some of the signs that your credit is affected and you need to repair it.
1.Rejected credit applications.
This is one of the biggest signs that credit repair is needed, you may not be approved for any loans on your own. Not only rejected credit applications, but you may not get the help of anyone you know to sign loans for you. If this is the case, you are in dire need of credit repair. Once you improve your credit, you will be able to get loans without someone co-signing for you. Did you know that?
- Calls from lenders.
When debt collectors start calling you, it means your creditors have given up trying to get you to pay your bills. These collection accounts are likely to show up on your credit report and affect your ability to get approved for credit cards and loans. Credit repair involves paying these collection accounts or disputing them from your credit report if they do not belong to you.
3.credit card denial.
If you have been denied a credit card application, this is another sign that you need credit repair. Credit card companies are required to send you a notice of unfavorable action that tells you the specific reasons why your credit card application was denied. If you were denied because of information in your credit report, you are entitled to a free copy of the report.
Low credit score.
If your credit score is below 740 you are considered less likely to default on a loan, but if your credit score is below 650, it is definitely a sign that you need credit repair. If you don’t know your credit score.
- Interest rates rising out of control.
Credit card issuers often raise interest rates as a result of information on your credit report. It should be the opposite, but when you are late on payments to other creditors or a new collection account appears on your credit report, you may receive an interest rate increase letter. Repairing your credit can help ensure you get the best interest rates on your credit cards and loans.