Working with credit bureaus is difficult. Facing the reality of bad credit can be daunting, but credit repair and restoration is possible. With new advances in technology, credit restoration solutions are within reach more than they ever have been.
How Credit Damage Happens
Credit damage can be caused by a variety of factors and is usually a multi-faceted occurrence. While some of these factors occur as a result of the criminal activity of others, most of them are the result of the lack of necessary financial safety measures.
The most common detriment to a good credit score is the amassment of debt over an extended period of time. Allowing yourself to handle more unnecessary expenses and payments than you are able may seem feasible at the time, but can severely damage your credit score when those responsibilities become too much to bear. It’s therefore crucial to be very careful and frugal when it comes to unnecessary debt.
Making late payments on bills and other debts hurts your credit score severely. Of all the factors that can affect your credit score in a negative manner, this one is perhaps the most commonly recognized–and perhaps the easiest to avoid. Making payments on time is one of the most simple and important ways to maintain a good credit score.
One of the more uncommon—but extremely severe threats—to good credit is identity theft. With a social security number or other valuable identification information, criminals are able to steal your identity and amass enormous amounts of debt. They do this by opening credit cards, taking out large loans, and spending money that isn’t theirs. Sadly, this can cost you thousands of dollars and destroy your credit.
Credit Restoration After Bad Credit
Fortunately, credit restoration solutions are available, no matter how hopeless or overwhelmed you may feel. A bad credit score is not the end of your financial life. There are ways to challenge bad credit statements and methodically improve your credit over time.
What is the Difference Between Credit Restoration and Credit Repair?
Financial terminology can be tricky, so it’s important to take your time and be sure you understand all relevant terms. When we’re looking at credit repair vs credit restoration, the terms are generally interchangeable among companies and entities that work in finances. For some, however, credit restoration refers to a more extensive process of statement disputation that involves lawyers and greater involvement from credit bureaus, while credit repair generally refers to the disputation of credit report information that can be done independently of the law. For our purposes, we will consider these terms interchangeable as we discuss methods of credit repair.
Working to Restore Credit
When searching for credit restoration solutions, it is important to contact a credit repair specialist to be sure that nothing falls through the cracks. Tony’s Credit Repair utilizes newer technology to challenge credit claims to ensure that nothing is missed. With Tony, your credit score can be repaired competently and efficiently, meaning you can rest assured knowing that credit repair and restoration is possible.