Credit Repair


Personal Credit Repair

When you have a poor credit history, it becomes much more difficult to qualify for a loan or credit card. Reputable institutions simply do not want to take the financial risk and borrowers may end up paying even more—if they can find a lender that will give them funding. However, one’s credit score is constantly changing. It fluctuates for a number of reasons, some of which include late or missed payments, hard credit inquiries or the closing of an account. In some cases, inaccurate negative entries may also appear on one’s report and will need to be disputed. It is possible, however, for borrowers to return to a good credit rating. JSV Capital offers credit repair services for borrowers looking to improve their credit and maintain as high a score as possible.

What Is Personal Credit Repair?

Borrowers seek credit repair services in order to improve their financial health. Bad or low credit can prevent consumers from obtaining funding and negatively impact the terms, interest rates and fees on a loan if approved. While it is possible to repair your creditworthiness on your own, many seek the guidance of a credit repair professional.

Credit repair is when a third party, whether it be a company or organization, is hired to remove negative information from one’s credit report in order to improve a person’s credit score. Credit scores can range between 300 and 850. To have “good credit,” one’s score must be above 670. Poor credit is characterized by a score that is below 580. If a person has a lot of debt or continually fails to pay their bills on time, it can negatively impact their credit rating.

The goal of the credit repair process is to build a person’s credit back up. This can be done by disputing negative, inaccurate or outdated information on a credit report. In addition, when working with a credit repair service, they will monitor your report and ensure that those entries do not reappear.

How Does Credit Repair Work?

When working with a third party such as JSV Capital, we will first need access to your credit reports in order to assess what items are having a negative impact on your credit. These could include charge-offs, tax liens or bankruptcies. Once that information has been identified, our specialists will create a plan of action to dispute any inaccuracies that may appear.

Our job is to then communicate with credit bureaus, banks, debt collectors, credit card issuers and other financial institutions on the client’s behalf. If the entries are deemed incorrect, the negative information will be erased from the credit report altogether. It’s important to remember that while there may be negative information on the report that’s affecting your score, credit repair services can only challenge entries that are truly inaccurate.

6 Benefits to Good Credit

Borrow money at a better rate
Qualify for home loans
Get better credit card limits
get approvals for renting
better car insurance rates
start a business and get capital

How Long Does Credit Repair Take?

Repairing one’s creditworthiness takes time, regardless of the credit repair company. There is no quick fix to restore one’s credit and borrowers should not expect things to improve instantly. The process requires patience. When challenging a negative entry on your credit report, keep in mind that credit bureaus have 30 days to investigate and respond to your dispute. As negative information naturally falls off your report over time, it will be replaced with new, positive entries.

Typically, this cycle requires paying off debts and months of consistent, on-time payments. Although, it can vary according to the person. Each individual will need to have their credit score report analyzed by JSV Capital to determine the best way to improve their score. It’s also important to remember that after your credit score is restored, it’s the borrower’s responsibility to monitor and maintain a good credit history going forward.

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