Your credit report should have less of what doesn’t belong and more of what does. That’s how to achieve a better credit score.
This time-tested winning formula worked for Javonte H.
Javonte started on the CredEvolv platform with a 542 credit score. He had an insufficient credit history and some collections accounts on his report. His credit counselor had three of those accounts removed and he established a new line of credit. In 3 months, this boosted his score to 638, exceeding his mortgage lender’s target score of 620 and putting him well on his way to his personal goal of 700!
What can and can’t be removed from my credit report?
As we discussed in one of our Credit Education blogs, it’s important to know what can legally come off your credit report and what must remain. Here’s the truth: Better credit is not about erasing your financial past. It’s about correcting inaccuracies and improving your credit going forward.
There’s a lot of misinformation out there. Some so-called credit repair companies claim they can remove all derogatory information from your credit report. But this simply isn’t true. In fact, it’s illegal to remove accurate information, even if it’s negative.
Under the Fair Credit Reporting Act (FCRA), credit reporting agencies are required to report accurate, verifiable information. If you missed a payment or defaulted on a loan, for instance, that information can legally stay on your report for up to seven years. Bankruptcies can remain for up to 10 years.
At CredEvolv, we want to set the record straight: no one can legally remove accurate, negative information from your credit report. What the certified, nonprofit counselors on our platform can do, however, is help you dispute any inaccuracies or outdated information that may be hurting your score. They are trained to spot errors and unfair practices on your report. This gives you the best chance of improving your credit by removing anything that doesn’t belong.
How quickly can I see results on the CredEvolv platform?
Now is the best time to start the process of improving your credit. No matter what Google or the for-profit credit repair guys tell you, it takes a little time for your credit score to go up. It doesn’t always happen overnight.
Some of our clients see significant improvement after one month. Others like Javonte reach their credit goals and loan readiness in an average of 3 to 5 months, which is a more typical timeframe.
Depending on your individual situation, you may need services like dispute resolution, budget analysis, debt-to-income ratio analysis, payment negotiations, credit card or loan payoffs (or not), and more. These are things that only a HUD-certified nonprofit credit counselor on our platform will know how to deal with effectively.
Once a counselor handles these things for you, results similar to Javonte’s could happen for you!
Read more credit success stories here!