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Boo! Credit Scores Can Be Scary, Fear Not with These 5 Secrets

By | Credit Scores, Uncategorized, Your Credit

Credit score repair company

Credit Scores can seem scary when you think about how that three-digit number can affect so many financial decisions in your life. Frightening enough, that score can then scare away lenders when you’re applying for a loan or a mortgage. The ones not frightened away give you a horrifying interest rate!

Before you go and hide under your covers, here are 5 ways to calm your fears and improve your credit score.

1. Pay Off Your Balances, Especially Large Ones, Quickly

This pointer might sound obvious, but the sooner you can eliminate your balances, the healthier your credit score will be. If you make a hefty purchase with a credit card, try to pay it off right away, even if you must sell a favorite possession to obtain the funds. When you do so, you might find that your score goes up substantially. Plus, you’ll lower the interest rate you’re paying. At the very least, try to pay down your highest balances to the greatest extent that you can.

If you’ve routinely paid your credit card bills late, don’t fall into despair and assume that punctual payments won’t do you any good now. Instead, start paying those bills on time. Despite your history, your credit score will eventually reflect your newfound effort. What’s more, you’ll get into a good habit.

Remember as well that you can use an online service that will automatically pay your credit card debts each month. Such a tool will ensure that you won’t ever forget one of your bills.

2. Consider a Debt Consolidation Loan

You could speak to a financial expert about taking out a debt consolidation loan. This solution isn’t ideal for everyone, but perhaps you’d benefit from one.

First, you might find it easier to pay off your credit cards by combining the amounts of money you owe to various credit card companies into one sum. It might feel less painful to make a more substantial payment each month rather than a series of smaller payments. Plus, you won’t accidentally overlook a payment that you owe. Even more appealing, your overall interest rate will be lower. And taking out such a loan might soon result in a higher credit score.

3. Bring Your Credit Utilization Ratio Down

Your credit utilization ratio is the portion of your total credit limit that you spend every month. This ratio should be less than 30 percent. Of course, that number might sound low, especially if your limit is less than $1,000.

Keep calculating your credit utilization ratio each month. If you find that it exceeds 30 percent, try to pay more with cash or a debit card. You could also try to make fewer purchases, rely on coupons and discounts more often or start shopping around for less expensive products and services.

Another way to improve your credit utilization ratio is to ask for a higher line of credit. That way, you might not need to reduce your spending rate. If you have any credit cards that will grant such an increase without investigating your credit, consider making this request. Just be certain that none of those companies plan to do a hard credit check; having such an inquiry performed lowers your score a little.

4. Don’t Be Afraid to Use Your Credit Cards

Even though it’s important to keep your credit utilization ratio down, you should still be making regular purchases with all of your credit cards. Spending with your plastic and then making your payments in full is a highly effective way to raise your credit score. By contrast, when you completely avoid taking your credit cards out of your wallet or purse, you’re not doing anything positive for your credit report. And closing one or more of your credit cards could actually hurt your score.

On top of that, using your credit cards might allow you to collect exciting rewards. Possibilities include securing special deals on airfare and hotel stays as well as getting cash back when you buy certain items. Why pass up those goodies?

5. Seek Help from an Outstanding Credit Repair Service

Finally, a dependable credit repair service can help you boost your score and maintain that higher number over the long haul. It can keep careful track of your credit report and identify any mistakes or irregularities that might be unfairly damaging your credit.

The experts who work at such a company could also sit down with the credit card companies and other parties you owe money to. And they might be able to hammer out new agreements that are more lenient and favorable to you.

So there you have it: five financial tricks that can lead to real credit treats. These actions could provide you with the monetary rewards ― including better loan terms and insurance rates ― and the peace of mind that come with a healthy credit report.

 

How Can I Improve My Credit Score?

By | Uncategorized

fix your credit

Your credit score isn’t a mysterious number. You have direct control over every single point. Some improvements will take longer than others, but there are a number of steps you can take to improve your credit score both immediately and in the future.

1. Order a Credit Report

You may receive a monthly credit score from a credit card company or get your score in a letter when you’re denied for credit, but your score doesn’t tell the whole story. You need to see your full credit report to understand exactly what’s impacting your score.

Things you’re looking for include total number of accounts, account balances, payment history, credit inquiries and negative items such as collection reports. Once you understand what’s reported on your credit report, you can begin your plan of attack.

2. Dispute Negative Items

Depending on your starting credit score, one negative item, such as a late payment or charged-off account, can drop your score 100 points or more. If you successfully dispute a negative item, your credit score will bounce right back up to where it was.

To win a dispute, the information on your credit report has to be either inaccurate or without adequate supporting documentation. Some common items to consider disputing include the following:

  • Negative remarks that have the wrong date.
  • Collections or charge-offs that were added back to your credit report after a bankruptcy or settlement.
  • Accounts where you don’t recognize the lender or collection agency.

When you file a dispute, the lender or collection agency is required by law to show proof that the information is accurate. If they can’t do so, the negative item must be removed.

3. Stop Applying for New Credit

When trying to repair your credit, think like a doctor — first, do no harm. Every time you apply for new credit, your score for recent inquiries goes down whether or not you are approved. If you are approved, your average age of accounts also goes down because of the new account.

Recent inquiries and age of accounts add up to about 25 percent of your total credit score. That leaves a lot of room for improvement just by pressing the pause button.

4. Look Into Credit Limit Increases

The only possible new credit you should consider is a credit limit increase on existing credit card accounts. The amount you owe in relation to your available credit makes up 30 percent of your credit score. One or more maxed-out credit cards can tank your score.

The reason to look at credit limit increases but not other forms of new credit is that credit limit increases usually don’t have a negative impact. An increase doesn’t open a new account, so your average age of accounts doesn’t go down.

At many banks, a credit limit increase request won’t count as a credit inquiry, either. Look for online offers to increase your credit limit or a credit limit increase request button. Most banks will warn you if they will pull your credit report and make an inquiry. If they do, check your other credit cards for offers that won’t require a pull.

5. Pay Down Your Credit Balances

Generally, a maxed-out card of around 90 percent of the credit limit is terrible, 75 percent is bad, 50 percent is OK, 30 percent is good, and less than 10 percent is excellent. The faster you can get your credit card balances down to these thresholds, the faster your credit score will improve.

Note that even people who have never paid a dime in interest need to watch their credit card balances. Your credit score balance is calculated on the statement date.

If you run up $900 in charges on a card with a $1,000 limit, your credit score will plummet when the monthly statement is issued. The good news is that if you pay the balance in full by the due date, your credit card will go right back up when the next statement shows a $0 balance.

6. Use Your Credit Cards

Always having a $0 balance on your credit cards is actually worse than having a small balance. The reason is if you aren’t using your credit cards, the credit scoring model doesn’t know what you’ll do if you suddenly start using them. Always try to use your credit cards for at least one charge each month.

Some people mistakenly believe this means you have to pay interest to have a good credit score. You don’t. When you have a small balance on your credit card statement, you can still pay in full each month (before any interest accrues) and have an excellent credit score.

7. Set Up Automatic Payments

Late payments do a lot of harm to your credit score, but it’s easy to simply forget about a bill. To make sure this doesn’t happen, put each of your credit cards, loans and other monthly bills on auto pay.

If you’re worried about being able to pay in full each month, set up automatic minimum payments, and then pay the rest when you can. Payments are considered on time as long as you pay the minimum amount due.

Sources:

http://www.myfico.com/crediteducation/improveyourscore.aspx

http://www.bankrate.com/finance/debt/7-simple-ways-improve-credit-score-1.aspx

http://www.experian.com/blogs/ask-experian/credit-education/score-basics/improve-credit-score/

https://www.creditsesame.com/blog/improve-your-credit-score/

http://money.usnews.com/money/personal-finance/articles/2015/06/23/10-simple-ways-to-raise-your-credit-score

https://www.bankofamerica.com/credit-cards/education/how-to-improve-your-credit-score.go

http://abcnews.go.com/Business/perfectly-legal-hacks-improve-credit-score/story?id=23071180

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

 

Home Equity Loans and Your Credit

By | Credit Repair, Credit Reports, Credit Scores, Home Buying, Homeowner, Mortgage, Personal Finance, Uncategorized

Home equity loans, as the name suggests, are a way for homeowners to borrow against the equity that they built up in their home. For a number of years following the 2008 financial crisis, lenders were reluctant to offer home equity loans because the value of so many homes had decreased. This lowered the equity that people had built, so it was difficult for many Americans to take advantage of them.

The good news is that as the housing market has stabilized, fewer people are at risk of defaulting on their mortgage, and home values are on the rise. In fact, the home equity market has improved for its third straight year, and, according to USA Today, the number of loans increased by about 20 percent in 2015. Consequently, lenders are more willing to extend home equity loans to customers who qualify.

The key word is “qualify.”Owning a home and having some equity doesn’t mean you automatically qualify for a home equity loan. Lenders want to be sure that you’ll be able to repay your loan. Your credit score and credit history are key indicators. So lenders won’t just look at the amount of equity that you have in your home, they’ll review your credit score and your payment history on other lines of credit, such as credit cards and your existing mortgage.

Credit Scores

While a potential home equity borrower may be current on all of his loans, he may still have a credit score that is too low for him to qualify for a home equity loan. Enlisting the help of a credit repair service such as Ovation Credit Service is a great way to improve your credit score. Our services work with credit bureaus and creditors to resolve issues that may be hurting your credit score.

A key service of credit repair services is educating you about factors that are impacting your credit score and keeping it lower than it could be. Not everyone understands how things like credit utilization and the number of open lines of credit can affect credit scores. Having an expert on your side to help navigate your credit report can help improve your score and show you which behaviors are likely to have the greatest impact on your score.

Types of Home Equity Loans

There are a lot of home equity lenders. You can go to your local bank, where you already have a relationship, or shop online for the most competitive rates. There are two main types of home equity loans:

  • Traditional Home Equity Loans are a lump sum amount paid to you when you’re approved. These are best for repaying credit card debt, consolidating other loans, paying for your kids’ college tuition, or splurging on a big-ticket purchase such as a car. The funds are given to you, and you make payments based on how much you borrowed.
  • Home Equity Lines of Credit (HELOC) are a great way to borrow against the equity in your home and keep some funds in reserve. If you’re renovating a room in your house or want to take a nice vacation, you can tap into some of the equity available to you. You only pay back the amount of equity from the line that you used, but you have other funds available if you decide to expand the scope of your renovation project or extend your vacation.

Things to Consider

A traditional home equity loan is a great tool for borrowers who want to improve their credit score. Having some cash available to consolidate high-interest credit cards—or pay them off entirely—is a good way to manage your credit. A credit repair service can recommend which lines of credit you should pay off first to have the greatest impact on improving your credit score.

How to Rebuild Your Credit After a Bankruptcy

By | Uncategorized

How to Rebuild Your Credit After a Bankruptcy

If you’ve had financial difficulties, you know bankruptcy can be a great tool to help you get your finances back in order. Bankruptcy is only the first step in the journey, though. If you want to be able to buy a house and get great credit card offers again, you need to know what you can accomplish through bankruptcy and what you’ll need to do afterward.

What Bankruptcy Does

Bankruptcy is all about erasing your debts. It will:

  1. Cancel remaining balances after you complete the bankruptcy plan.
  2. Stop creditors from calling you.
  3. Keep creditors from ever trying to collect canceled balances.
  4. Prevent additional late payments and other negative items from being added to your credit report.

What Bankruptcy Doesn’t Do

Bankruptcy resets your debt, but it doesn’t reset your credit score. Bankruptcy doesn’t:

  1. Remove negative items from your credit report.
  2. Report canceled balances as paid in full.
  3. Require lenders to do business with you.

Steps to Take to Rebuild Your Credit After a Bankruptcy

After a bankruptcy, most lenders will be wary of doing business with you. To convince them you’re not a risk, you’ll need to rebuild your credit score slowly to prove you’re now following good credit habits. Here’s what to do.

1. Open a Secured Credit Card

Secured credit cards are one of the easiest forms of credit to obtain. You can almost always open one immediately after your bankruptcy is final.

You will be required to put down a deposit equal to the credit limit; however, since you’re not allowed to spend more than your deposit, your lender has almost no risk.

What is the benefit? As long as you pay your bills on time, your secured credit card will build your positive credit history just like any other credit card.

2. Consider Paying Unpaid Balances

This situation seems counter-intuitive, but there may be circumstances where you want to settle a debt even though it may be discharged in bankruptcy. One common example is if a creditor agrees to remove a negative account from your credit report if you agree to settle the account.   You will want o make sure this makes financial sense so you are not “throwing good money after bad.”

3. Monitor Your Credit Reports Closely

After your bankruptcy, unscrupulous collections agencies may try to put new collections accounts on your credit report or continue to report late payments. This is highly illegal, but it will still undermine your rebuilding efforts.

Monitor your credit reports carefully so you can have these negative items removed immediately.

4. Watch Your Credit Balances

Running your cards up close to your credit limits can tank your credit score even if you pay the balance in full each month. This is especially important to watch out for early in your rebuilding when you only have one or two low-limit credit cards.

Keep your credit balances under 30 percent of your credit limits by making multiple payments throughout the month, or use a debit card instead.

5. Don’t Skip Credit Altogether

Many people who get into trouble with credit card debt decide to swear off credit cards altogether. While you should change your spending habits, know that avoiding credit cards is a mistake.

No credit is only slightly better than bad credit. If you later need an auto loan or mortgage, you may have difficulty obtaining one without a positive credit history.

6. Build Slowly

Creditors get anxious when you open multiple accounts in quick succession. This situation is especially true if they’re already nervous because of a recent bankruptcy.

Try to wait six to 12 months between opening new credit accounts. Also remember that each time you apply too quickly and are denied, your credit score still goes down due to having recent credit applications on your report.

7. Ask to Have Negative Items Removed From Your Credit Report

Some creditors will remove late payments and other negative items from your credit report if you simply ask. The usual course of action is to send a letter that explains how you’ve worked to improve your financial habits and asks for the negative item to be removed to help you move forward.

Lenders often say yes to generate goodwill. Do not be alarmed if they say no; you haven’t lost anything.

8. Check Your Dates

Immediately after your bankruptcy, check your credit report to make sure the dates for any late payments, unpaid accounts and your actual bankruptcy are accurate. Save a list of the dates and any documents proving the dates in a secure place.

Negative items fall off your credit report after a set period of time; however, you want to be able to dispute an item if a lender falsely reports a more recent date. You’ll also want to know when items should drop off so you can file a dispute if they stay on longer than they should.

9. Set Up Automatic Minimum Payments

One of the fastest ways to make lenders not trust you is to have a late payment after your bankruptcy. Set up automatic minimum payments on all of your credit accounts to prevent missing a payment accidentally.

10. Get Expert Help

Rebuilding your credit and working with various lenders takes time and hard work. Contact Ovation to get help achieving your optimum credit profile.

Sources:

  • https://www.consumer.ftc.gov/articles/0058-credit-repair-how-help-yourself
  • https://www.consumer.ftc.gov/articles/pdf-0032-building-a-better-credit-report.pdf
  • https://oag.ca.gov/consumers/general/your_credit
  • https://publish.illinois.edu/illinoisblj/2007/09/12/credit-after-filing-a-chapter-7-bankruptcy-how-individuals-can-improve-their-credit-score-after-a-chapter-7-bankruptcy/
  • http://www.myfico.com/crediteducation/questions/bankruptcy-fico-score-considerations.aspx

Natural Disasters and Credit Repair: What you Need to Know

By | Credit Repair, Uncategorized

Natural disasters are a rare but real threat. Earthquakes, forest and range fires, tornadoes, and flooding can be deadly. At the very least, these emergencies can disrupt public services and damage lives.

The September 2013 floods in Colorado are only the most recent example of natural disasters and the tragic impact they can have on communities and individuals. As the victims begin to repair their homes and lives, there are many details to account for in the recovery process.

Protecting your credit rating, or continuing steps toward credit repair, may seem like small details in the wake of a natural disaster’s destruction. But following a few simple steps can assure that credit-related details are properly addressed, with no needless additional damage to people who have already suffered.

Creditors and natural disasters

Most lenders already have in place policies for emergencies. These can range from procedures to set up temporary deferred payment plans, to guidelines for loan forbearance (temporary relief from having to make full payments on credit obligations).

When making their updates to credit reporting agencies, lenders usually include comments on any special payment arrangements associated with disaster recovery. This is important, because in this case your FICO score does not consider such comments as negative information that could hurt your credit rating.

Follow these simple steps to protect your credit score after a disaster:

Get in touch with lenders.

Let them know your situation and where you are in the recovery process. This is particularly true if you can’t pay bills or make scheduled payments for reasons tied directly to the disaster. There’s no reason for your good credit rating to be impacted, and in most cases lenders will work with you.

Ask about special payment arrangements.

What policies and services can the lender offer to protect your credit rating while you get your life back on track?

Check your credit score.

Safety and shelter come first. But as soon as feasible, it is recommended that disaster victims monitor their credit ratings. A copy of your credit report can provide a complete picture of your credit profile at the time of the emergencies and before any post-disaster updates have been reported.

Use credit repair strategies as needed.

Down the road, if you find that your credit rating has been affected by events related to the disaster, follow proven credit repair procedures to clean up your credit report and raise your credit score.

Regardless of the reasons for problems with a person’s credit rating, there are many aspects to building or repairing it. To learn more about how Ovation can help build your credit score, check out these frequently asked questions and contact us today.

 

The Good News about Soft Checks for the Credit-Conscious

By | Uncategorized

Let’s say you’ve been working hard on repairing your credit, and you are eager to check your own credit score to see how it’s paid off. However, you may have heard that checking too frequently will hurt your credit, so you hesitate.

But did you know that there are two different forms of checks, known as hard and soft checks? While it is true that hard inquiries do lower your credit score, checking your credit  yourself is one of a few forms of soft inquiries that will not affect your score at all. Let’s explore some differences between the two, so that you can peacefully build or rebuild your credit.

Soft v. Hard Inquiries

Whenever you apply for credit from financial institutions, you authorize them to take a “hard look” into your credit score. These inquiries are usually because you’re applying for a loan, a credit card, a mortgage, or even renting an apartment. Multiple inquiries into your credit might look like you desperately need credit, and thus lower the faith of potential creditors. Every hard check lowers your score by a few points; banks and lenders typically have to ask your permission to make a hard check. Therefore, you should try to limit your hard checks to one or two a year, to reduce these small dings on your credit.

A soft inquiry, on the other hand, means that your report has been viewed but you didn’t apply for credit. Examples include background checks by potential employers, pre-approved credit cards, and your personal review of your credit. If you find yourself in a gray area and are unsure if a situation will require a credit check, be sure to determine whether it will be a hard or soft inquiry by simply asking.

It is always important to be diligent and informed as you build your credit. Another wise move is to consider a credit repair company like Ovation for resources and advice. Our knowledgeable experts will help you wade through the credit lingo and make smart decisions about your finances.

 

Signs of a Bad Credit Repair Company

By | Credit Repair, Uncategorized

Wrestling with your credit score and trying to repair your credit is tough enough without becoming entangled with a bad credit repair company. There are a number of factors you should consider when choosing a credit repair company, and unfortunately, for every good company out there, there are several bad ones. Last time we discussed signs of a good credit company. In this post, we’ll explore the signs that you’ve stumbled across a bad credit repair company.

5 Warning Signs of a Bad Credit Repair Company

As you search for a credit repair company, be wary of companies that seem too good to be true. Like the chestnut says, they usually are. Whatever you do, don’t give any personal information to a company that might not be reputable. Here are five signs of a bad credit repair company:

  1. Companies that make big promises and offer little follow-through are bad ones. If you’ve come across a company promising to “instantly erase bad credit” or “legally change your identity,” you should run quickly in the other direction. These companies use nefarious methods that can get you in more credit trouble and sometimes in legal trouble as well.
  2. Bad credit repair companies expect you to pay now and get service later. They are more interested in obtaining a payment from you than they are in helping you. If the company won’t help you until you’ve paid, you should put your wallet away.
  3. Bad credit repair companies will tell you that there is nothing you can do for yourself to improve your credit. They’ll discourage you from contacting credit reporting agencies and creditors, and won’t offer the tools you need to be a better educated credit consumer.
  4. Bad credit repair company staff sound more like sales people than counselors. If you feel like you are getting the “hard sell” for their services, be wary. A good credit repair company focuses on listening to you and your specific concerns: A bad company will focus on getting you to sign a contract and pay them.
  5. Bad credit repair companies are often true “fly-by-night” organizations that disappear as quickly as they appear. If the company is not well established or has a slapped-together website, trust your instincts and keep searching.

Choosing the Right Credit Repair Company

The credit repair company you choose to work with will have access to your most private financial information. It’s critical to choose a trustworthy company that abides by credit repair laws and provides honest service. Take the time to learn about the credit repair company before agreeing to sign up. Make sure they’re reputable and transparent in the services they provide.

We’re here to answer your credit repair questions and offer you a complimentary consultation to determine if working together would be a good fit. Our “How it Works” section will definitively help you understand  what we can do to help you begin repairing your credit.

 

How Baby Boomers can Avoid Debt Traps and Credit Card Debt

By | Uncategorized

If you are about to retire or have recently done so, chances are you have worked many years, carefully putting aside savings for the day when you could sit back and reap the benefits of your hard work. For some retirees, this idyllic scenario might even be reality. But it’s more likely if you’re retired or soon retiring, that you’re part of a growing number of post-recession baby boomers in debt: worried and looking for a solution. Before you open another credit card or dip into your pension, it is important to become aware of how some insidious, baby boomer debt traps can permanently damage your credit, your bank account and your future.

Beware of Sly Debt-Traps

One of the most sneaky debt-trap “solutions” offered to retirees is the Pension Advance. Future pension payments might seem like a great way to get extra cash now, but it’s one of the biggest debt traps that baby boomers encounter. Taking advances from a pension can incur enormous interest rates – – from 27% to as high as 106%. Yes, more than 100%! Simply put, it is not worth the cost.

Another well-known and devious debt trap is the credit card. We’ve all had credit cards; but today, more than ever, retirees are turning to credit advances rather than looking for help. According to the AARP, retirees owe over 31% more on credit cards then before the last recession. With exorbitant interest rates and never-ending, minimum payments, credit cards are not the solution for debt consolidation. Avoid credit card debt by avoiding carrying credit card balances.

The next debt trap is probably the hardest one for anyone with children to ignore. This is the My Kid’s in Trouble trap. We all want our children to be happy, but when we choose to co-sign loans, take out third mortgages or open another credit card for our kids; we are helping no one and hurting everyone. For example, when you co-sign a loan, you are the one responsible for ultimately paying it off. If your kids fail to pay, it comes out of your savings. Even worse, if you ever need to take out a loan for your own needs, you may not qualify due to existing debt.

Trap-Free Debt Solutions

So what can you do to get out of debt? Here are a few steps we suggest:

  1. Take account of your accounts: What do you own and what do you owe? Write it down to the penny. The only way you can gain control of your finances is to take control of your finances.
  2. Seamlessly Simplify: In today’s online economy, a majority of people are paying too much in unknown or forgotten monthly subscription fees. Take stock of what you’re paying online, get rid of those expenditures and save money. You forgot you bought it and you won’t miss it when it’s gone.
  3. Switch it UP! Are your investments making you the most money possible? Take a day to revisit your accounts. Talk with your advisor and see where you can reallocate your funds.

Ovation Can Help

If you have tried every possible solution and are still struggling, let Ovation help you get your credit to where you want it. We understand that you’ve worked hard, and we want you to enjoy retirement. With our confidential credit counseling, Ovation will help you get your finances under control. We all want to enjoy life. Let’s work together to get there.

 

Late Credit Card Payments: Better Late Than Never, Right?

By | Credit Repair, Debt, Uncategorized

Perhaps late is better than never when it comes to paying your bills, but what happens if it becomes a repetitive cycle? Your life may start to feel like a DirectTV anti-cable commercial—a slippery slope that leaves you in despair…or “in a roadside ditch.” Late payments have more effect on your future than just being late and paying more money. Whether failure to pay happens due to emergency spending or not properly managing your budget, creditors do not discriminate and will respond with late fees and ultimately severe penalties.

Missed and late payments can affect your credit rating for months and even years. Typically, late fees are issued when payments are behind, and when the problem persists, increased interest rates are factored, rewards are lost, and credit bureaus are alerted. With all these serious hiccups affecting the all-important credit score, take heart, there are ways to repair and restore your credit.

Exiting the Credit Card Debt Tailspin

Having good credit is always an asset. It allows people to obtain a mortgage, a loan, insurance, sometimes even employment and so much more. So protecting your credit score should be vitally important.

One credit restoration tactic is to beg for forgiveness, or if you know a payment will be late, to let your credit issuers know as soon as possible. Sometimes leniency is granted in the form of an extension for first-time offenders. If you have a dispute with late payment accusations, complaining may eliminate the penalties; however, credit companies will do their best to prove you negligent. Lastly, hiring a professional credit restoration company to work on your behalf, like Ovation, can improve or remove inaccurate credit report information.

Our experience working with the credit bureaus simplifies the credit repair process for you because we anticipate industry tactics and responses. Ovation programs and services consist of disputing credit items, personal information and inquiries to all three credit bureaus, and disputing credit items directly with the creditor. Each program we have is customized to individual needs.

Ovation Credit Services is Happy to Help

While the best and easiest way to avoid a credit card debt crisis is to spend appropriately and pay on time, we understand late payments happen to the best of us. Call us today for a free consultation to learn more about our services and how quickly you may be back in good credit standing.

Start Credit Repair Now – Before You’re Denied

By | Credit Repair, Credit Scores, Uncategorized

Are you considering applying for a loan, a mortgage, a new credit card or even a new job? Then now is the time to think about credit repair – before you send in those applications.

Late payment history, high debt utilization ratios and inquiries for credit on your credit report can all result in credit denial – costing you a loan, prime interest rates or a credit card denial. Don’t make the mistake of being denied before checking-up on your credit.

Credit Repair – The Sooner the Better

It takes time to repair your credit – especially if you need mistakes or old items removed from your report. If you know that you probably have defaulted loans or late payment history for an account that has since been brought up-to-date or paid-off entirely, you may have a case for having the previous negative entries removed. The most effective way to clean-up your credit report and achieve a more attractive loan application is to seek advice from a company that specializes in credit repair services – like Ovation.

You Can’t Fix What You Don’t Know

Everyone is entitled to a free credit report from each of the three reporting agencies every year – so take advantage. Screening your credit report on a regular basis allows you to monitor changes to your report – both good and bad.

Credit report mistakes are more common than you might think. Monitoring your report is essential to keeping your credit report accurate. Don’t assume that your credit report is clean, even if you do everything right. Making your payments on time and keeping your credit card balances low is no guarantee that your credit report is in good shape. Request copies of your report and review them before you apply for new credit to avoid unwanted surprises.

Applying for Credit Hurts Your Score

Another reason to check your report before you apply for new credit: inquiries hurt your score. Every inquiry for your credit report will bring down your credit score. If you are denied credit at one financial institution, continuing to apply at other lenders will only make you appear risky and desperate. If you failed to check your report before you applied for credit and you were denied – stop and have your credit report reviewed by an expert.

The best course of action is review your credit report often and well in advance of any planned borrowing. This gives you ample opportunity to access credit repair services and have the best chance of obtaining a new loan at a great rate.

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