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Affordable Credit Repair

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Affordable Credit Repair

Is Affordable Credit Repair Possible?

If you have looked into credit repair at all you know that you could take matters into your hands and do it yourself; you do not need to pay anyone to repair your credit for you. However, people commonly hire third parties to complete many services they could otherwise do themselves. The reason? They don't have the time, resources or know-how to do it themselves. Or, maybe they simply don't want to. This goes for credit repair services as well.

Affordable credit repair - is there such a thing? Many people think that paying for credit repair services is very expensive. Is there affordable credit repair? The word affordable is relative. Credit repair service fees may seem astronomical to some and barely noticeable to others. You need to take a look at your budget and how your bad credit is affecting you to determine if credit repair services are affordable or not.

Affordable credit repair - how affordable is your bad credit? Consider how much your tainted credit report and damaged credit score are costing you. Your low score is what causes you to pay higher interest on your loans. Here's an example: a $30,000 auto loan extended over a five-year period. Excellent credit (740 or higher) would qualify for a low interest rate (around 5%); over the 5 year period, little or no extra would be paid in addition to the principal. Good credit (below 740, but still in the 700's), might qualify for an 8% interest. A mere 3% increase in interest will tack on an additional $2529.00 over the 5 year period. Damaged credit (600's) may only qualify for 12% interest which would add a whopping $6071.40 over the life of the loan. If that weren't bad enough, there are some people whose credit is so damaged and who are desperate enough to settle with 17%-19% interest! Just imagine how much extra they will be paying for the exact same car.

Affordable credit repair - make it affordable. If you are tired of watching so much of your hard-earned money get wasted on high interest rates, do what it takes to get your credit in better shape. If you don't have the time, know-how or desire to do it yourself then hire an affordable credit repair company to do it for you. If you hire a good company, chances are that within 6 months to 1 year your credit report will be in good enough condition to start getting your interest rates lowered. Many clients are able to achieve that coveted 740 in less than one-year's time. Higher scores will save you thousands in the long-run. When put this way, credit repair is very affordable.

Affordable credit repair - more than just interest rates. Your credit report influences how much you pay in insurance premiums, your ability to rent an apartment, and can even determine whether or not you get a job. How can you afford not to repair your credit when so many things are at stake?