Credit score restoration is an important process that all Australians must be aware of. This is because having a good credit score is key to creating opportunities for a better and brighter future
But what exactly is your credit score? Put simply, your credit rating is a number, or score, determined by your personal financial history. This number can stand anywhere between 0 to 1200, with numbers closer to 1200 indicating a better financial history and, therefore, a better credit history.
But how do you go about raising or restoring your credit score? Furthermore, after credit rating management strategy, what differences will you notice? To get a better understanding of this process and its results, we’re going to take you through a real-world example of our credit rating restoration expertise.
A True Story: Before & After Working With a Credit Rating Advisor
Every single one of us has dreams that we would like to come true. But unfortunately, achieving your goals can be difficult sometimes due to revenue problems. People often find themselves needing to take out large loans in order to get where they need to be in life. These loans can, unfortunately, negatively impact our credit score if we are not able to keep up with repayments. As a result, lenders may charge higher interest on future loans for us. This can then lead us to be in a situation where we are spending a large amount of our income on loan repayments, leaving little else for other aspects of our lives.
This is similar to a situation one of our clients found themselves in. They were looking to refinance their existing home loan as they were paying over 9% in interest. This is quite high when the current average is usually around 5.2%. Their broker suggested that this may be a direct result of their credit score. They were advised that if they were able to improve their credit rating, they may stand a chance of getting themselves a much better rate. This left them searching for a credit rating advisor, which is where Credit Repair Solicitors came in.
As credit rating experts, we reviewed their credit report and found several opportunities to help them improve their rating. With our help, the client was able to take their score up to 1035, which is nearly as good as it gets! Our client was much better off than where they were and, now, they are perceived by lenders as a low-risk estimate. Based on their prior history, this means that they are now extremely unlikely to make late payments in the next 12 months. As a result of this new and improved credit score and rating, our client was offered a 4% reduction on their loan which means that they are now paying an amount closer to the average rate, in addition to avoiding thousands of dollars in risk fees. With this major improvement, we are proud to say that our client was left with a newfound sense of confidence and peace regarding their loan and interest rates. They are also able to put more money aside for other things in life, rather than just loan repayments.
Why Should You Improve Your Credit Score?
Just like we helped this client, Credit Repair Solicitors can help you as well! Even if you have a pretty low credit score, there are likely to be ways that we can help you fix this. With your permission, we can obtain your credit report and challenge discrepancies to ensure it is accurate for a better overall score.
However, it’s important to understand that this process is not instant. Credit score restoration will take a few weeks to work. However, with potential end results like these, the time is well worth it. With a trustworthy credit rating business like us, you can start living your life with greater financial freedom and security. For example, you will be free to start applying for a larger home loan, car loan or personal loan with greater chances of success and improved interest rates.
Could You Be Another Credit Score Restoration Success Story?
While you certainly can do a lot of credit rating restoration work on your own there are many legalities and legislative requirements; so you will definitely benefit from working with an experienced credit rating consultant to help with more difficult issues and advocate on your behalf. This is where we can help.
As a credit rating repair business, we focus on giving you high-value service to provide you with excellent and unmatched benefits. We have helped many Australians improve their credit score and set themselves on track to living debt free. And you can start that journey today too. We offer a free, no-obligation consultation so you can learn more about how we can help you. So, get in touch with us today on 1300 004 912 or visit our website www.crsolicitors.com.au!