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Frequently Asked Questions

We’re proud to offer two levels of services, depending on your credit needs. Our most comprehensive service level assists in essential credit services. Get help with score tracking & analysis, tools to protect and manage your identity, and additional legal interventions for abusive third-party debt collectors. Establish business credit to increase your financing options and access to capital.

Over the course of a 30-year home loan, you could end up paying as much as hundreds of thousands more in interest with average credit, compared to someone with good credit. This is given if you can get approved for a mortgage loan in the first place. Try our Credit Cost Calculator and determine where you can improve your credit score, and how much bad credit is costing you.

Good credit doesn’t stop at getting approved for a mortgage loan. Any lender who offers credit will take your score into consideration for car loans, credit cards, and home equity loans, as well as, possibly, personal business loans. The better your credit score, the more you’ll save in the long run with a lower interest rate. Many other entities such as insurance providers, apartment leasing, and employers might use your credit score to make decisions about you.

Do you have more questions about your business credit score? Take a look at our most frequently asked questions.

 

 

 

Q: How is my credit score calculated?

A: The formula used to calculate your credit score includes information based on several factors:

  • 35% on your payment history
  • 30% on the amount you currently owe lenders
  • 15% on the length of your credit history
  • 10% on the number of new credit accounts you’ve opened or applied for (fewer is better)
  • 10% on the mix of credit accounts you have (mortgages, credit cards, installment loans, etc.)
Q: Will paying off delinquent debts improve my credit score?

A: Probably not. Still, it’s better to have fewer negative items on your report. To see the real score improvement, however, you’ll have to wait until the negative items are all gone or have aged off.

Q: Is there anything that can not be removed from my credit report?

A: No, all information reported by the credit bureaus are subject to the same laws and criteria. We may challenge on your behalf any items you request, and the credit bureaus must investigate these items.

Q: Is credit restoration legal?

A: Absolutely. The Fair Credit Reporting Act allows anyone to dispute inaccurate items on their credit reports. There’s nothing we do that you cannot do yourself when it comes to fixing your credit situation. Individuals can restore their credit on their own but this can take time and a lot of knowledge when it comes to the credit laws. That’s why we are here to help since we have the experience and knowledge to get you the positive results.

Q: How do mistakes appear on my credit report?

A: It is estimated that as many as 80% of credit files have errors. If your credit report contains errors, it is often because the report is incomplete, or contains information about someone else. This typically happens because:

  • 1.) You applied for credit under different names (for example, Margaret Jones versus Margaret Jones-Smith)You applied for credit under different names (for example, Margaret Jones versus Margaret Jones-Smith)
  • 2.) Someone made a clerical error in reading or entering name or address information from a hand-written application
  • 3.) You gave an inaccurate Social Security number or the number was misread by the lender Loan or credit card information was inadvertently applied to the wrong account
Q: How soon will I start seeing results?

A: Although no guarantees can be made, on average, our clients typically start seeing results within the first 30 days or less. However, you should note that the FCRA allows the credit bureaus 30 to 45 days to investigate disputes, depending on how you obtained your credit report. This is why we recommend our clients to “buy” their credit reports versus getting them for free through www.smartcredit.com/creditdocs

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