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Credit Repair Service Companies in South Aurora, CO

Located in beautiful Colorado, South Aurora is home to over 400,000 people. The median family income in the city is $49,000, with most people living there owing more than $20,000 in debt. Homes sell for about $180,000 and three-bedroom rentals go for anywhere from $1,500 a month to $3,000. The cost of living is comparable to the rest of the state, which allows residents to walk away with a substantial disposable income at the end of the month.

Having a poor or average credit scores is common among Americans since debt has become such an issue. Unfortunately, living with a bad credit score can have a significant impact on every financial decision of your life. Those living in South Aurora are not immune to the staggering statistics involving credit scores. It is essential to begin repairing your score as soon as you can to open up opportunities that will benefit you monetarily.

When to Check Your Score

If you are not using a specialized credit reporting agency that prevents overuse, you’ll want to check your credit score once a year. If you check it more often than this, you’ll lose five points per report. Companies like Credit Karma and Credit Sesame protect against over-zealous viewing. You can use these sites to check your score as often as you like. Keeping an eye on those numbers is imperative to increasing your score, as you’ll get to see if what you’re doing is working. The credit report will also alert you of any mistakes that are present.

Sometimes, you’ll check your report and notice an item that shouldn’t be there. An example of this would be a report showing a delinquent payment or a bill in collections when you know you paid it off. There are three main credit bureaus that handle reporting: Experian, Equifax and TransUnion. You will need to dispute these errors with the corresponding credit union. You’ll need as much proof as possible to back up your payment claims so that the item can be removed.

Building Credit

Building credit could take years, so you’ll need to give it some time before your credit score gets a nice boost. It could take up to 10 years to get a poor score into the good or excellent range. The best way to raise your credit score is to be more financially responsible. You don’t have to cut up your credit cards and close your accounts, as this could actually hurt your score by about 50 points, but you need to use them more carefully. Don’t use credit cards for frivolous spending at the mall or local grocery store. Use your lines of credit only for emergencies or expenditures that you know are going to be paid off quickly and fully.

It’s not uncommon for someone to have multiple credit cards and use every one of them throughout the month. You might buy a whole new wardrobe this week and put it on one card and then next week you’re going to get your hair done and charge it to another. You’ll go into debt faster than you can imagine using your cards this way, if you haven’t already. The interest on credit cards can be as high as 30 percent, especially for those who have a bad credit score. When you pay your bills at the end of the month, that $200 salon trip at the time turns into a $300 charge on your credit card solely because of the interest.

You’ll also need to be aware of what you can and cannot afford. Consolidate loans and bills if you’re struggling to make ends meet at the end of the month. Refinance your mortgage to lower payments. The whole point of credit repair is to do everything you can to manage your money and start building necessary credit using responsible financial tactics.

Credit Repair Companies: Yay or Nay?

You’ve probably heard of or seen the companies that promise full credit repair within a short period of time. Many of these companies are downright scams that will take your money and give you nothing in return to show for it. While it’s safe to say to avoid all of these companies, there are some that genuinely want to help their clients. These reputable credit repair companies work to consolidate debts and help you create a family-friendly budget you can stick to day in and day out. The repair firm will work by your side to repair your credit score.