Many people go day-to-day with bad credit and in need of professional credit repair but not truly realizing it. At best, that only results in costing you more in your everyday life than you might otherwise pay.
And it only gets worse from there.
When is it time to finally stop paying more than you have to? When do you truly need credit repair?
Here are some of the surest signs.
The first examples are life-stoppers and are the most obvious circumstances where life no longer lets you ignore your credit problems.
You’ve Been Denied Credit or a Loan
This is the state most of our customers are in when they finally seek us out. You’re in your bank, lender, or auto dealer’s office and suddenly you hear the most embarrassing, frustrating words, “Sorry, but your credit wasn’t approved.”
In this situation, the faster you’re able to improve your credit, the better. And for most people, that requires professional credit intervention.
Your Bad Credit Keeps You from Getting a Job
A lot of people don’t realize it, but more and more employers are using credit reports to decide who to hire or promote. And that’s especially true for executive positions.
Yes, bad credit can actually keep you from climbing the corporate ladder. Or worse, your credit can even keep you from getting the job you want in the first place.
That’s why it’s a great idea to clean up your credit before changing careers or seeking your next promotion.
Your Rental Application Gets Denied
It isn’t just mortgage lenders; landlords will check your credit, too. If you’ve found the perfect apartment or rental property, confidently applied, and were turned away or priced out due to your credit history, you know.
Some landlords might be willing to overlook a couple of late payments from years ago in your credit history, but serious delinquencies usually mean instant denial.
Warning Signs You Shouldn’t Ignore
When your ability to support yourself or live independently is affected, it’s obvious. But what about more subtle signs that your credit is holding you back?
If you encounter these problems, don’t ignore them. They’re warning signs like the “idiot lights” in your car, telling you that your credit is making your life more costly and limited than it should be.
You Have Accounts in Collection
Collections used to be a huge embarrassment that no one could ignore long, but after the financial crisis of 2008, they became commonplace.
If you have debt collectors calling you or sending you letters, don’t bury your head and hope it just goes away. These collections will appear on your credit report and harm your ability to qualify for decent credit cards and loans.
What’s worse, collections often lead to a bad-credit spiral, where everything costs more so you’re increasingly likely to wind up with even more collections.
Instead, you can turn your situation around and start spiraling upward by utilizing credit repair and credit restoration.
Your Credit Card Issuers Closed Your Cards
Everyone’s seen a TV show where someone’s credit card gets declined and they’re a little embarrassed, but everything turns out okay in the end.
Life isn’t so simple. When your credit cards get closed, it’s a sure sign there’s something wrong. It could be late payments, a maxed-out balance, or other issues.
The sooner you address closed cards, the better. Repairing your credit now could keep you out of collections and prevent extra hits to your credit scores.
You’re Forced to Seek a Cosigner
A lot of people think that having a friend or family cosign for their credit card or loan is an easy way around the roadblock of their low credit or bad credit.
The problem with that thinking is that it’s both ignoring the problem and putting yourself in the perfect situation to make your credit problems much worse. On top of that, you’re now risking your friend or family’s financial reputation, too.
Seeking professional credit repair now to rebuild your credit is a great way to prevent the kinds of problems that are highly likely to force you into it later.
Your Utilities or Insurance Are High for No Reason
Most people have no idea that their credit history directly affects what they’ll pay for utilities and insurance. You’re quoted a rate, and that’s that. What can you do?
Investing in improving your credit, that’s what. You might be shocked at how much money you can save over the years on your basic needs by increasing your credit scores.
Imagine paying less for car insurance, rental or homeowner’s insurance, electricity, home phone or cell phone, and more!
While credit repair is not a cure-all for every situation, the common problems above are ripe for professional credit help.
You could stand to save literally thousands of dollars, watching your interest rates and monthly bills drop while the options and offers available to you grow.
Why wait until you have to seek credit help? If you’re suffering any of these warning signs, reach out to us to find out what you can do.