Frequently Asked Questions
1
What is a credit score?
A credit score is a numerical representation of your creditworthiness, based on your credit history. It is important because lenders use it to determine your eligibility for loans, interest rates, and other financial products.
2
What factors affect my credit score?
Your credit score is affected by factors like payment history, credit utilization, length of credit history, new credit inquiries, and the types of credit you have.
3
How does credit repair work?
Credit repair involves identifying errors or negative items on your credit report and disputing them with the credit bureaus to potentially improve your credit score.
4
Will improving my credit help me qualify for a mortgage?
Improving your credit score through credit repair can increase your chances of qualifying for a mortgage and may help you secure better interest rates.
5
What is the difference between a credit repot and credit score?
A credit report is a detailed history of your credit activity, while a credit score is a numerical summary of that history, used to evaluate your creditworthiness.
6
Can I repair my own credit?
Yes, you can repair your credit on your own by disputing errors on your credit report, paying down debt, and consistently making on-time payments.
7
Does paying down my debt help improve my scores?
Yes, paying off debt can improve your credit score by reducing your credit utilization ratio and showing lenders that you manage credit responsibly.
8
How long does credit repair take?
Credit repair results can vary, but you may start to see improvements in your credit score within 3 to 6 months, depending on your individual situation.
