If you want to improve your credit, you may avidly watch YouTube videos to see how other people boost their credit scores. However, most of the information available online fails to take into account the FICO scores used by the vast majority of lenders. At Credit Firm Inc., we understand the scoring system used by banks and other lenders and our software simulates the results achievable when you follow our straightforward advice.
Our founder is an authority on consumer law and credit repair, and we’re the only company to guarantee a credit score. Learn more about our credit restoration service.
Why Are There Different Versions of FICO?
Starting in 2020, FICO Score 8 became the most common version for evaluating individual credit scores. Unfortunately, mortgage lenders refer to FICO 04 for Equifax and Transunion, and FICO 02 when pulling Experian scores. Besides these “classic” versions, FICO has customized scores for credit cards, auto loans, personal finance loans, and the insurance industry to complicate matters further.
At Credit Firm Inc., we concentrate on changes that will move your credit score in the right direction, based on the classic version used by 90% of lenders. Here’s something we must stress—derogatory scores such as late payments or collections all count the same. If you have a $45 late fee and an unpaid balance of $10,000, both impact your score in the same way.
So, when it comes to credit repair, we focus on removing as many derogatory reports as possible, starting with the ones that count the most.
Which Items Have the Biggest Impact on Your Credit Score?
Did you know transactions within the past two years make up 75% of the history portion of your credit score (the most significant part)? Further, within that time frame, actions taken in the last year have the biggest impact on your credit report. Additionally, if a collection agency buys the debt, it effects the aging of the derogatory report by making the account seem new according to FICO.
Although your credit report considers factors from the past seven years, it’s the last two that account for the lion’s share of your score. This progressive system, based on statistics gathered for thousands of loans, accurately predicts your consumer behavior. A lot of credit repair companies consider 40% removal of derogatory reports a smashing success. Guess what? If the majority of those deletions occurred more than two years ago, it doesn’t significantly impact your credit score. We go deeper and further in our efforts to move the needle and help you meet your financial needs by improving your score.
We work to freeze any client accounts with a derogatory report impacting your credit score. We have a 90% track record of preventing companies from selling the debt back and forth. After doing this successfully for more than a decade, we’re able to guarantee clients a credit score—this is something that shocks our competitors and blows them away. They just don’t see how we can do it. Most significantly, we are not simply a debt settlement company and not even just another credit repair company. Our services go way beyond that. That’s why we refer to ourselves as a credit counseling firm—it’s what we do to stand apart.
You need a FICO specialist who will take the time to review your credit report and surgically remove the derogatory items that most impact your credit score. We don’t believe this should take two years to accomplish. Therefore, our timelines tend to be weeks or even days, depending on your specific circumstances.
Sign Up for a Free Credit Restoration Consultation
When you meet with our FICO specialists, we provide all the information you need to get real results and improve your credit score. Our credit counseling is not a sales presentation. We use accurate simulators and your real scores to determine a course of action.
Then, we lay out a very specific plan and explain to you in detail how to achieve your credit goals. You don’t even pay for the $68 it takes to pull your credit scores for the demonstration. The consultation includes:
- Face to face consultation with a FICO specialist
- Advice on improving your positive credit
- List of accounts to target to improve your score
- Explanation of our credit restoration services and how they will benefit you
Contact Credit Firm Inc. today to book a no-obligation consultation. Feel free to browse our credit repair FAQs for answers to common questions and let us know if you have any questions regarding our credit restoration services.