How to Get Help With Credit Repair

Having a good credit score gives you access to many things–you can get a new car, buy your dream home, get a great loan to start a business, or get a competitive insurance premium

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So, if you have a poor credit score or credit report, credit repair may be a way to get you back on track to enjoying these benefits.

Luckily, reliable Dallas credit repair companies, such as The Phenix Group, are ready to help you do just that–let’s dive into how they go about helping you improve your credit.

What Is Credit Repair?   

Credit repair is when a company helps remove inaccurate and unverifiable information from your credit reports in exchange for a fee. Your credit score will likely improve when such information is removed from your credit history, allowing you to access services previously unavailable, such as loans or even employment. 

How Do Credit Repair Companies Work?

Credit repair companies work with credit bureaus and the companies that provide data to the bureaus–these companies can be lending institutions like banks, credit card issuers, and debt collectors. 

Credit repair companies intend to have your negative credit information either completely deleted from the bureaus or altered to make it favorable to you. However, legitimate companies know they can only remove inaccurate information working against you on your credit report; less reputable companies may claim they can remove anything, even accurate items from your report. This is a scam, and should be avoided.

How Long Does a Credit Repair Process Take?

If you’re wondering how fast credit repair works in Dallas, you’re not alone. Many people would want to get their credit fixed in the shortest time possible so they can buy homes, seek employment, or get loans. The credit repair process will take at least thirty days, but it can take six months or longer, depending on the condition of your credit history. Inaccurate information lowering your credit score gets deleted much faster than a history of defaults or late payments.  

Credit bureaus and data furnishers (people who provide information about your credit history to credit bureaus) usually have up to thirty days to fix inaccuracies that your credit repair company identifies. If your credit reports contain issues such as defaults, bankruptcy, and late payments, it may take longer to improve your credit rating. 

Does Credit Lock Improve Your Credit Score?

Are you wondering if locking your credit report can help in credit repair? Credit locking simply limits people from viewing your credit information without your permission. Many people have been victims of identity theft, whereby someone who has access to your personal information may take a loan on your behalf and hurt your credit score–this is where credit locking can come in handy.

When you have a credit lock, you must first remove the lock to access your credit file. For example, if you were applying for a loan at a bank, you’d temporarily unlock your credit file for the bankers to access, after which you’d close it again. 

Credit repair companies in Dallas, like the Phenix Group, offer credit lock services to their customers. You’ll get real-time alerts when someone tries to apply for credit in your name, and your credit can be locked or unlocked by a simple click. 

In Conclusion

Credit repair companies help dispute inaccuracies and unverifiable information on your credit report to improve your credit rating. Keep in mind that credit repair can take anywhere from thirty days to six months or longer, depending on the condition of your credit history. If you're concerned about identity theft, credit locking is a service that can prevent people from viewing your credit information without your permission, and can be done with a simple click.

At The Phenix Group, we are deeply passionate about helping individuals fix their credit and achieve financial security. We want to help make your life financially more manageable so that you can enjoy the benefits of a great credit score!

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