Many times, when people call me asking about credit repair I think they envision an instant fix to a significant long-standing problem.
The credit score is important enough to warrant attention, I agree.
A score just 100 points higher than “average” can give you access to better deals, lower interest rates and save you money.
A lot of money is saved on interest alone.
Thousands, in fact.
I get it.
What I am concerned about is people who pursue credit repair without correcting the underlying issues that led to a low score.
You see…
If you only repair the score, that’s a SHORT term gain.
By that I mean, if you repair the score and dash out to make a big purchase like a house or car, you may not have the habits or skills to keep the loan current or the repaired score elevated.
However…
If what took the score down to begin with was a one-time event, then by all means, grab some credit repair so you can stop suffering.
A one-time event may be identity theft, an illness, or an accident.
Fix it and get back to your regularly scheduled life.
Try to pick a reputable credit repair organization.
That being said, if the low score is indicative of low financial literacy, years of sluggish bill-paying habits, or simply not caring that much about it… then, perhaps it’s time to explore the opportunity to address the root cause?
Repairing the root cause of long-term financial difficulties will provide life-long POSITIVE benefits.
Like saving thousands in interest payments.
If you have difficulties you’d like to address, I’m only a message away.
And, check out this fabulous new link that gives you a freebie and is so encouraging you’ll be inspired: I Want Financial Literacy & Freedom This Year!
Super-hero hint: you don’t have to be good at math to slay this dragon.
Reduce Frustration. Save Time. Get Better Results.
©2023 Ronda Cobb, the Money Coach
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