Getting Expert Help In Boosting Your Credit Score
If you want to get expert help in boosting your credit score, you may get confused with credit repair companies and credit counseling. Let me enlighten you on this.
Let me begin with credit repair companies. This kind of company helps you clean your credit history through boosting your credit score. They study your credit report and check if there is any error. They come up with ideas to enhance your financial status which you can use for lenders.
On the other hand, credit counseling is leaning towards a different side. They aim to get and keep you out of debt. While this is important to people who have a hard time managing their credit, it usually does not work for people who are looking to boost their credit scores.
Credit counseling companies let you close down any revolving accounts that you have such as gas cards, store cards, and credit cards, just to name a few. They talk to you lenders about the debts that you have and bargain as much as they can. They make the payments with the monthly fees that you pay them.
While it sounds efficient, it can indicate your lack of finance management. It shows that you cannot control your own finances, and you require other people to do it on your behalf. Additionally, closing down any account will have negative impacts on your credit score. However, your debt remains the same.
If you are asked for monthly fees, you may want to opt for other options. Think about how they make money from you per month. Therefore, they practically want to keep you as long as possible. The longer it takes for them to do their job, the more money they will be making from you.
As much as you can, work on boosting your credit score on your own. It may take a long time, but it is extremely doable.