Phoenix, AZ -- (SBWIRE) -- 01/08/2013 -- The idea of a legitimate credit fix company is something that is on the minds of many people who are suddenly faced with the knowledge they won’t go anywhere in life unless they are able to get rid of their bad credit. The problem is they want to take care of these problems immediately, and that just isn’t possible. Unfortunately it takes less time to mess up your credit than it does to fix it, and there is very little you can do to speed up the process unless the creditor is willing to remove the information once you pay it in full (possible but not probable).
Know More about Credit Fixing Company Info
There is a misconception that with the best credit fixing company you can walk away from the bad credit and start over. Certainly there are companies that advertise they will remove bad credit, and at some time in the past some of these companies even created new credit files for consumers with bad credit, but this is not the way a legitimate credit fix company operates.
Many consumers pay a great deal of money to companies that promise to remove all derogatory information, and the company actually may be able to provide that consumer with a nice positive credit report—temporarily. This report is only valid during the period when the credit reporting agency is researching the information for accuracy, but if the information turns out to be accurate it will place the information back on the consumer’s report. Of course, this also depends on whether the creditor responds to the inquiry—if the creditor doesn’t respond at all, the information remains off the credit report in the same manner it would if the creditor responded but was unable to validate the existence of the account.
The main area that requires the expertise of a credit fix company is the credit score. There are several systems, but FICO is the one of greatest interest to credit.
One thing you will learn as you research the best credit fixing company is there are several elements that affect your credit score, but the majority involves your payment history. Any negative information must be offset by positive information and over time the credit score will improve. In addition, the older the negative information is, the less weight it will carry.
The amounts you owe on your accounts can also have a negative effect on your score if you owe more than fifty percent of the credit limit or original loan amount. The quicker you can get those balances down to below fifty percent, the quicker your score will increase.
http://www.Credit-yogi.com, an online marketing service is located in Pittsfield, Massachusetts, reminds consumers that if a deal seem too good to be true, it usually is, so use some common sense and avoids scams.