Frequently Asked Questions

Credit repair companies assist consumers in increasing their credit scores. Using a credit repair company eliminates the time you would spend learning what it takes to get results. Many individuals simply do not have the time, experience, or patience to deal with the collection agencies or credit reporting agencies.

Credit repair is 100% legal provided that the credit repair company or credit repair organization you choose is in accordance with The Credit Repair Organizations Act. Any credit repair company operating under a commercial license must be registered with the Secretary of State of Texas and be bonded and insured.

A credit score is a FICO score ranging between 300 and 850 that is calculated through a formula that looks at various types of information found in your credit report. The higher your scores, the better it is for you.

This score helps lenders and other companies decide how likely you are to repay your debt — how much of a risk you are for their company. It affects whether you can get credit, your interest rate, your credit limit, auto loans, mortgages, and even employment opportunities, especially in Government or Finance. Credit scores do matter, and in today's world there is very little you can do without having your credit checked.

Bad, poor, and fair scores normally result from late payments and collections. You'll most likely be charged a higher interest rate, and depending on your payment history you could be turned down altogether. With a good score — as long as your debt-to-income ratio is low — you'll likely pay much lower interest rates on your loans. A great score is where we want to be: you'll most likely get approved at more than favorable financing terms.

Negative information can remain in your credit report for seven years. Chapter 7, 11, and 13 bankruptcies are reported up to 10 years from the date filed. Positive information should stay on your report forever.

A full list of your credit rights can be found within the Fair Credit Reporting Act of 1970. The main topics are:

1. You have the right to view your credit report.
2. You have the right to know who has inquired about your credit.
3. You have the right to request verification of information you believe to be incorrect.
4. You have the right to dispute negative information over 7 years old, or 10 years in the case of bankruptcies.