What is credit repair?

Credit repair is the process of addressing any inaccuracies or questionable negative items that are appearing on your credit reports. If the credit bureaus or your creditors can’t verify that the items are accurate, they legally have to remove them from your credit reports.

Can bad credit be removed?

By law you’re entitled to a credit profile that is accurate and fairly represents you. If something on you credit appears to be unfair or inaccurate you have the right to get it corrected with the credit bureaus.

How much does a negative item affect your credit score?

Depending on the item and your credit profile, a single negative mark on your credit could decrease your score by over 100 points.

How long does credit repair take?

This can be a tricky question because there’s no way to predict how long it will take because every credit situation is different. That being said, we typically see this process take around 6 months for the best results.

Do negative items stay on your credit forever?

The short answer is no. But they do stay on for a very long time. Most negative are removed from your report after 7 years and could take them as long as 10 years to be removed. If you’re planning on using your credit within that timeframe, credit repair is a great solution.

Student Loan FAQ's

How do student loans affect my credit score?

Having a student loan will not affect your credit score. Your payment history on those loans however can affect it in a significant way-- failed payments will decrease your score and affect your ability to be approved for future lines of credit.

What happens if I cannot make my student loan payments?

Depending on your payment history and the type of loan you received (federal or private), you may be eligible for deferment or forbearance. Additionally, you may be able to reduce the cost of your monthly payments through a consolidation and income-driven repayment plan. 

What are my options for paying off student loans?

The loan type (federal or private) and how quickly you plan to pay off your student loans will determine the type of program you should follow. The most common options for repayment are income-driven repayment plans, consolidation programs, or refinancing your loan.

What is the difference between loan forgiveness and discharge?

Although the two terms are often used interchangeably, the difference between loan forgiveness and discharge can be defined in the type of loan cancellation. Student loan forgiveness typically involves having an amount of the loan forgiven after the borrower has worked for a certain timeframe--usually in the field of public service or government positions. Student loan discharge on the other hand is based on the borrower’s failure to pay to loan back due to fraud.

How do I know if I am eligible for student loan forgiveness?

In order to qualify for student loan forgiveness, you must be working in the field of public service or a government position. For example, a teacher may have their student loans forgiven after fulfilling their position after an agreed amount of time.

Will student loans affect my ability to get approved for a mortgage loan?

One of the first thing creditors will take into consideration when applying for a mortgage loan is your payment history. A history of on-time payments can greatly improve your credit score/ chance of being approved for a mortgage. 

Rent-to-Own FAQ's

What is a rent-to-own agreement?

A rent-to-own is an agreement where individuals commit to rent a home for a certain period of time and have the option to buy the home before the end of their lease. 

What are the benefits to rent-to-own?

While there are many benefits to rent-to-own agreements, the biggest benefit is being able to move into a home without having to qualify for a mortgage first. 

Can I still rent-to-own with poor credit?

Another major benefit to a rent-to-own agreement is that it allows you enough time to repair your credit history while living in a home. 

Does rent-to-own require a down payment?

Most rent-to-own agreements require an upfront payment (typically 2.5%-7% of the purchase price).