If you need a better credit future without worsening your present, you should look for the best service provider. In the internet, you can easily get hundreds of firm offering credit repairing solution done by experts. Just you have to spend some-time finding the right one online. It’s time to give a best change to your financial problems by hiring a specialist in credit restore. I have repaired my bad credit, now it’s your turn. Hire an expert and get good amount of quality feedback on credit report repair. Today!
The term FICO stands for Fair Isaac Company. This company has developed a mathematical formula to determine how high of a risk you are as a credit score repair applicant. The formula is nothing short of complicated and confusing! We understand the 10-card scoring system as well as the 300 encoded characteristics that are used to develop the concluding model. Here is a percentage breakdown of some factors the formula takes into consideration:
Payment history (35%). The largest factor determined on your FICO score is your basic payment history. The number of unpaid bills you have, any bills sent to collection, bankruptcies etc. Outstanding Debt (30%). Are your cards maxed out? High balances or more precisely, balances that are close to your credit limit can negatively effect your score.Length of your credit history (15%). How long have your accounts been open? The longer, the better. Recent inquiries (10%). Every time you apply for credit of any kind, you create an inquiry on your credit report. Lots of Inquiries negatively affect your score. Inquiries within the last six months are especially damaging. Types of credit in use (10%). How many and how much? Having loans from finance companies (Beneficial Finance, American General, etc.) can detract from your score.
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