Many Americans have to deal with the fact that their credit score is a means for obtaining certain things such as:
- a home
- a car
- a loan (personal or student for example)
- credit cards
- bank accounts
- new cell phone account
- employment
- car insurance
- gas or electric heating in their home (some states)
The higher the score, the better chances of obtaining the items above, or better yet, the better the interest rate or lower the monthly premium to pay out of their pockets. When individuals are able to increase their score through a credit improvement process, they are able to pay less out of their pockets, thus keeping more to save.
Though not guaranteed, the ability to challenge items on an individuals credit report in line with the Fair Credit Reporting Act and Fair Debt Collection Practices Act laws, many items can be removed from the report. Items such as:
- Late Payments
- Collections
- Charge-offs
- Debt Settlements
- Bankruptcies
- Repossessions (and more)
Working through Financial Education and United Credit Education Services, many individuals we work with have been able to use the laws in their favor to improve their credit report, increase their credit score, and save more in their pocket as a result of the credit restoration process.
To learn more in understanding what is happening in the world with your credit, and to see the credit process Click HERE.