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Fast Credit Repair Business rebuilding, repairing credit score
At Vitesse Financial, we have years of experience in credit repair business. When you hire us to repair your credit report or improve your credit score, our credit repair specialists do their best to make sure you're satisfied with the service you receive.
Browse our site to learn more about bad credit help and fast credit repair services provided by Vitesse Financial.
About Credit Reports and Fico Scores
Credit reports are used to determine credit scores. The credit repair business is based on improving low scores. Every item listed in an individual's credit history report is taken into account to tabulate a credit score. This number represents your financial credit worthiness, and is underwritten by a particular statistical model. This translates to a score commonly referred to as a FICO score. A high score allows a client to obtain more loans and at a lower interest rate, so when a client is rejected for a loan, he or she might turn to a credit counselor for fast credit repair--sometimes this is possible, but often it takes time to mend a score.
The FICO score is the most widely known score in the industry; it is the brainchild of the Fair Isaac Corporation. Repairing credit score ratings involves correcting factors that are taken into account as the FICO score is assigned. Its proprietary formula is closely guarded, but in the interest of corporate responsibility and public relations, Fair Isaac has released information on the following factors they use in order of the weight they carry in the overall tabulation of scores, and therefore, the factors that are given priority in related credit repair services:
- Payments made on time (35%)
- Credit capacity used - ratio of current credit card balances to total available credit limits (30%)
- Length of credit history (15%)
- Types of credit a consumer is using (10%)
- Recent search for credit or amount of credit obtained most recently (10%)
FICO scores help banks and credit card companies determine how likely a borrower is to default on their debt. The possible risk of this happening is estimated for a period of the following 24 months. If you have been deemed as a risky borrower, take steps to repair your credit report. This is how financial institutions mitigate loss due to poor debtor behavior and available credit limit. There are many ways to improve credit score results, and some of them take time--so begin the process as soon as possible.
Even though FICO scores range from 300 to 850, everyone actually receives three scores because the three credit reporting agencies that rule the day, Equifax, TransUnion and Experian, all use their own scoring models and databases. Lenders typically request an applicant's score from each agency and then use the median score to determine the applicant's eligibility for credit. So if any of the three agencies reports a low score, consumers must take steps to correct their rating to keep the overall score high. In some cases, professional credit repair may be the best solution.
For fast credit repair, start by arming yourself with all of the information you can collect on your credit history. As a result of the Fair and Accurate Credit Transactions Act (FACT), you as a legal U.S. resident once a year can request free credit reports from all of the major credit reporting agencies. For bad credit repair, the first step is learning your score. To request your free reports, tap the website AnnualCreditReport.com, call 1-877-322-8228 or mail in the Annual Credit Report Request Form. Our reliable Colorado credit repair office can help consumers nationwide.
As a leading credit repair company, Vitesse Financial can fix errors on your credit report and improve your credit score sometimes as much as 150 points. We have helped thousands of clients with bad credit due to a variety of reasons, including: foreclosures, late payments, public records, judgments and bankruptcies. To speak with a friendly and knowledgeable case advocate about rebuilding credit, please contact Vitesse Financial or fill out our online callback form. We offer positive results in the first few months and many of our clients continue to see improved credit scores six to nine months after initiating our services. For more information about our services, please contact us today.
