When a person has poor credit, it can ruin their chances of being approved for a car loan, a mortgage, and even a credit card. If a person’s credit score if fair, they could qualify for these types of loans, however, the interest rate that they qualify for would be very high. It is possible for a person to repair their credit on their own it that can take years. If a person is having credit issues, they should consider hiring a credit repair company in New Jersey. There are a few reasons why hiring a professional is the best option.
Expert Knowledge
There are a variety of credit industry laws that most people don’t understand such as FACTA, FDCPA, and FCRA. When a person hires a credit repair company, they will have someone working for them that has extensive knowledge of these laws and other laws and issues that could be hurting the individual’s credit score.
Identity Theft
The fastest growing crime in the United States is identity theft. If a person was a victim of identity theft, it can have a negative impact on their life for 8 years or longer. After a person’s identity is stolen, trying to clear it up can be difficult, tedious, and very time-consuming. If the individual hires a credit repair company, they will have someone with extensive knowledge on the matter to clear the problem up quickly.
Credit Report Errors
According to a recent study, there are errors on over 79 percent of American’s credit reports. This averages out to close to 4 out of 5 reports that contain errors. If a person has errors on their credit report, a credit repair company can clear up the errors quickly, which will likely boost the individual’s credit score.
Credit Repair Is Time-Consuming
Repairing credit is not as easy as many people think. Creditors and collection agencies will use every trick in the book to make the credit repair process take as long as possible. They do this in hopes that the individual will eventually give up on repairing their credit. If a person were to hire a credit repair company, they will work to get the individual’s credit repaired legally and as quickly as possible.
If a person is dealing with poor credit, they should hire Square One Credit Management. Visit the website to get more information.
