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How do you repair credit? Compare the cost

how do you repair credit

Before relating my own experience with the explicit cost of credit repair, I will comment on the peripheral or secondary cost of credit restoration.

When considering the cost of a credit restoration, you should compare the effects of poor or average credit with the direct cost of the service. Over the lifetime of a thirty year home loan, a person with average credit may end up spending 10’s or even 100’s of thousands of dollars more in interest than a person with above average or good credit would be spending. The difference in cost between the person with good credit and poor credit is even more dramatic.

The advantages of a good credit score extend beyond the negative effects of a poor FICO score over the 30 year term of a home mortgage. A better FICO score will help you get approved for many major purchases and credit lines:

v Car loan

v Credit card

v Home equity loan

v Debt consolidation loan

v Utility Company approval and security deposits

v Personal loans

v Qualify for various education loan programs such as

Federal PLUS and private loans

v Get the job you want

v Obtain affordable insurance

How about renting a home or apartment? It is critical in today’s marketplace to have a good credit score.

In my own case, I was diagnosed with a serious illness and my insurance company refused to pay (that’s a long story for another post). That caused us over a period of a couple years to lose just about everything, including our excellent credit score.

We employed the services of 2 credit restoration companies over a period of 18 months. One agency is the largest in the nation and the other a moderately sized company that does a lot of radio advertising. Between these 2 companies we spent $6,225 and got very little movement of our FICO score.

The testimonials of many FES customers are some of the factors that lead us to become affiliated with FES. The reasonable cost of one year of intensive credit restoration is quite impressive. We will be reporting on our progress in future posts but are excited about the results we have seen others achieve.

Category: Credit

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