Home > Credit 101 > 14 Reasons Why You Should Sign Up for Credit Repair Today

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[Disclosure: Lexington Law Firm advertises on Credit.com and Credit.com may receive compensation if you sign up for credit repair services with Lexington Law Firm.]

Having a great credit score is one of the most important things for Americans. For both individuals and small businesses, a bad credit score can have so many negative repercussions. If you have bad credit, you can end up homeless, careless, jobless and pay higher interest rates. This is because lenders see you as a risk who won’t pay back any money they lend you.

Lexington Law Firm is the leading credit repair organization with over a decade of experience in helping clients with unfair, inaccurate, and unverified items on their credit reports. Since Lexington Law Firm is a law firm, the attorneys and paralegals are knowledgeable about the laws and statutes regarding the credit bureaus, credit reports, and credit scores.

The dedicated staff at Lexington Law Firm offers “white glove” services to help clients improve their credit and educate them on how to maintain good credit.

But why should you sign up for credit repair today? Here are 14 reasons why:

  1. You Can Save Money on Interest

With a lower credit score, you’ll be slammed with higher interest rates when you apply for a loan or credit card. Repairing your credit can help enable you to qualify for more competitive interest rates, which can save you money.

  1. You Cut Off High-Security Deposits

Utility service providers and phone companies check your credit rating when you sign up for their services. If they see you as a risk, lots of these providers will make you pay a security deposit. Making your payments in full and on-time can help you get your deposit back. By repairing your credit, you may not have to keep paying these deposits, keeping more cash in your pocket.

  1. Access a Reduced Insurance Rate

Insurance companies also check your credit. Whether it’s automobile insurance or home insurance, a bad credit history can mean higher premiums. This can be costly, so repairing your credit today may help you save on these expenses.

  1. Get a Credit Card

Have you been eyeing that awesome looking premium rewards card? Bad credit can keep you from being approved for a credit card. Many premium rewards credit cards require good credit. Maybe you already have a credit card but want to upgrade. Your application likely won’t be approved if you have bad credit. If you can repair your damaged credit, then maybe you’ll finally qualify for that credit card you’ve been wanting.

  1. Access a Higher Credit Limit

If you show creditors you can pay your bills on time, there’s a chance they’ll increase your credit limit. But the card issuer will likely pull your credit score before doing so. A bad credit history may cause a credit limit decrease instead. This usually causes more harm to your credit score by raising your utilization ratio.

  1. Prevent Debt Collector Harassment

If you have accounts that have been sold to collection agencies, then you may be bombarded by letters and phone calls from debt collectors. Lexington Law Firm will challenge these accounts for accuracy. On some service levels, Lexington Law Firm will send cease and desist letters to these collection agencies on your behalf.

  1. Feel Better About Your Situation

You worry about your credit score – we get it. If you choose to repair your credit, you’ll have more peace of mind about your financial situation. If your credit score is good, then you’ll feel confident about applying for a new loan or credit card.

  1. Own Your Home

For millions of people across the country, owning a home is a dream come true. Bad credit can get you turned down on that loan for your dream home. Even if you get approved, your interest rate will be higher, which can cost you thousands more dollars. Lexington Law Firm may be able to help you achieve that goal of owning a home, and qualify for a lower interest rate.

  1. Or You Could Rent a Place

Aside from buying a home, your credit can also impact your ability to rent. Many landlords check your credit to determine whether or not to rent to you. A poor credit score may keep you from renting that cute little apartment downtown that you want.

  1. You Can Get a New Car

Auto lenders also heavily rely on your credit score. Car breakdowns happen, and it may not be worthwhile to pay for repairs. If you have poor credit, you’ll likely have difficulty buying a new set of wheels. When you have a good credit score, it’ll be easier to be approved and you’ll likely get a better interest rate too.

  1. Get a Good Job

Many companies check potential employees’ credit reports before hiring them. If your credit isn’t up to par, then they may not hire you. Government jobs and jobs within the financial industry are especially known for this. For military personnel, bad credit can prevent higher security clearance.

  1. Relieve Pressure

When your partner has better credit than you, odds are all the financial responsibility is on them. And you may want to apply for accounts together without dragging them down. Repairing your credit may help you get to the point where you can actually do this.

  1. Say Goodbye to Cosigners

In many cases, individuals with bad credit can get approved for loans or credit cards with the help of a co-signer. When someone does this for you, you are placing financial pressure on them – usually without providing any benefit. Plus, this may put a strain on your relationship with that person, no matter how close you are.

  1. Own Your Business

Starting a new business usually requires capital. A lot of entrepreneurs depend on loans to get their businesses off the ground. Bad credit can keep you from doing this and you may have to say good-bye to your dreams. By repairing your credit though, starting your own business may very well become a possibility.

If that isn’t enough for you, there are plenty of other reasons to sign up for credit repair. Lexington Law Firm offers so much more than just credit repair. Call the credit specialists at Lexington Law Firm today  to get started on your credit repair journey.

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