Credit scores are always at the top of the list for any lender when reviewing a credit application. There is alot that goes into the phases of credit repair and restoration and many people learn that your score doesn’t automatically increase with the work. often when my team and I review a credit report, the old history has been damaged with late payments and eventually accounts that were the oldest have been charged-off by the original creditor.
What then has to happen is that the client now has to re-build their credit history from scratch as if it never existed. This is an on-going confusing issue that aggravates people who seek help. Alot of credit specialists and so-called gurus provide terrible information about how credit can be re-built and re-established and when to do so.
Conventional lending has it’s barriers to the process because they often recommend secured credit cards to re-estabish credit and help build credit scores, but that is pretty worthless when buying a home in this new market. It’s important that you recognize that correcting your credit files are the intial phase of your credit recovery. Your scores can drop sometimes while the collection are being deleted and whatever else has been identified to be erroneous, irrelevant or un-verifiable. You should never assume that credit repair increases scores.
There so many factors that could impact credit scores and even the work itself. Credit scores can be increased at a later time and once your credit repair and restoration work has progressed to a place where a credit building plan can be implemented. Our team is extremely effective in this area and our clients are able to buy homes, and get approved for credit cards on their own after working with us.
