Official Credit Repair Help Articles

A credit report is your lifeline to qualifying for loans. A good credit report will help ensure that you get the best possible interest rate. Let’s take a look at how this system works.

Lenders run credit reports on buyers when they need to buy something such as a house or car that requires a long-term loan. In the United States, credit reports come from the following agencies – Equifax, Experian, and TransUnion. Each of these agencies use their own system to calculate credit scores and receive credit information. That is why you must take a look at all three. A credit report score can be as high as "800" with a jump of 50 points being a big increase. Higher credit scores enable borrowers to qualify for loans previously denied them and also allow for lower interest rates. A 1% drop in an interest rate on a $250,000 house at a new interest rate of 6%, for example, may drop a payment by about $162 a month, saving the borrower over $58,320 over the life of a 30-year loan. That’s a chuck of cash that could have been used for many other things!

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Few things can have a more devastating effect on lifestyle than bad credit. Thankfully, the law gives you the right to do something about it. If your low credit score is keeping you down, you can do the necessary work to fix it or for an affordable fee, you can let Lexington Law do it for you.

Create a better life for you and your family and fix your credit today. With 7 out of 10 credit repair scores being incorrect along with government laws allowing consumers to take a more active role in their credit scores, now is the time to take action and find out if negative items can be removed from your credit report.