If you are reading this, you are undoubtedly thinking about your credit, and you probably live in Arizona. It doesn’t matter if you live in Tempe, Tucson, Phoenix, Scottsdale or any of the other beautiful cities, Arizona credit repair rules are the same throughout the entire state.
So, what is Credit Repair?
Well, if you are like a lot of people living in Arizona, you have probably experienced a few rough spots in your life, especially recently with all that has gone on with the COVID 19 pandemic. As a result, you may have lost a job, piled up huge medical expenses, or just been unable to make the minimum payments on your credit cards.
That can be very scary but then to make the situation even worse, you pull your credit report from one of the free sites only to find out that your hard times have extended over to your credit as well. You can see that all of your 30, 60, and 90 day late payments are now showing up on your credit report.
Even worse, for the ones that started first and are the oldest, those accounts have all been sent to collections and even worse still, the collections that are the oldest have now been given a charged off status making the damage even more severe.
You now find yourself having bad credit and in need of credit repair. So what is credit repair? Is it really a thing? Does it actually work?
Is credit repair in Arizona really possible?
The answer to these questions is yes. Credit repair is exactly as the name suggests. It is the act of taking bad or “broken credit” and repairing it, bringing it back to its former glory or at least as close as possible.
So how is Arizona credit repair possible?
Simply put, there are several state and federal laws that govern how information is reported on a credit report. When those laws are not followed then the reporting for that account is illegal and can be deleted from a credit report if the creditors do not fix the errors.
Common credit reporting errors include wrong dates, wrong amounts, and wrong account numbers. It may sound crazy that there could be actual errors on a person’s credit report, but the fact is that a very high percentage of all people have reporting errors occurring on their reports and they may not even be aware of them.
Good credit is so important for so many things in our lives. Our personal credit report and credit scores are taken into consideration for things like home loans, car loans, insurance and even a job. Having bad credit can prevent you from achieving a lot of your life and financial goals. How’s your credit? Do you in credit repair?