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Nobody is going to call you or make threatening noises. There will be no official letters containing warnings of dire consequences. You will still be invited to parties with your friends.
But when you try one of the following things, you may suddenly discover the magnitude of the problem.
When people who do not know you are considering lending you money or employing you for a new, exciting job, they want to know how trustworthy you are. The first place they look may be your credit score. If it's below 670, they won't be impressed. If it's in the 500s, they will consider themselves warned.
Thus, getting a loan – certainly one without exorbitant interest rates – will become impossible. And even if you nailed the interview, you might not get that job solely on the basis of your low credit score.
It's a bad, unhealthy situation to be in.
Whether we like it or not, our credit score is basically our "Trustworthy Score." When you want people to trust you with something, whether it be a loan, an account, or a job, they will consult your credit score.
Therefore, the higher it is, the more horizons are open to you. People will trust you, people will entrust you with money, responsibility, and opportunities. If your credit score is low, this investment in fixing it can affect every aspect of your financial and professional life.
Obviously not. Where there can be dangers are some credit repair companies. They may take lots of money to do what the customer can do by themselves. There are many credit repair companies out there, some are excellent, and some are shady.
Tasking a professional, with legal knowledge, can be a wise move. Make sure that the company you entrust with this important job is well rated by many users and on the Better Business Bureau. The few companies that this site is affiliated with all meet or exceed the standards.
It is not instantaneous, but in many cases, improvement can be seen in a matter of weeks. The reason is that the process is a very straightforward one:
Negative report items are like heavy boulders in a rowboat. Each one you remove lets the rowboat float a little higher and move faster and easier.
What you don't know may hurt you, and when you do know what it may hurt your feelings! You may see items that are simply false, or have already been resolved and are still weighing down your credit score. There are almost always surprises waiting for people on their credit reports. And they are almost always unpleasant.
You can get your free credit report from Credit Karma, just by clicking here:
Click to get your free credit report
Even if your credit score is fair, lenders and credit card companies alike will not give you the best interest rates. Over the long term, you will be spending into the thousands of dollars more than you need to. Getting your credit score into the very good or excellent range, even if paying a service between $50 and $100 for each month of service, will give you lower rates that will save you many times that.
If you currently have debts and credit cards, you can make calculations on our Debt Auditor Financial Independence Calculator. It will show you the financial impact on your current obligations of lower interest rates.
There is the easy way, and the less expensive way. The easy way is to hire a professional, trustworthy credit repair firm. Make sure that they have attorneys review every communication with a credit company. Just one easy step. See the companies recommended on this page and have an initial consultation with them.
The less expensive way is to do it yourself. Get your credit report, go through each and every negative item, and craft a communication to the credit reporting company challenging those things that you feel are unfair. (The advantage of using a company is that they are lawyers who can identify negative items that you might not.)
Click here to sign up with Credit Firm
Signing up for credit boosting services takes just a few minutes – you can do it now – online, but the impact on your financial and professional life is game changing. You may not feel any impact of a low score at present, but it can cause problems when you needed in the future.