Top Credit Repair Companies in Phoenix, AZ

Are you trying to raise your credit score, but feel lost? Are you struggling to find the right people to do the job? Luckily, we have compiled a list of the top credit repair companies in Phoenix, Arizona, to help guide you.

Top Credit Repair Companies in Phoenix, Arizona

Go Clean Credit

Go Clean Credit has offered personalized credit correction services as one of the top credit repair companies in Phoenix. Restoring your credit can be an intimidating task. Thankfully, Go Clean Credit takes a hands-on approach to meet your needs. Go Clean Credit is a trusted and reliable source, ready to help you deal with all of your credit-related issues. Additionally, Go Clean Credit utilizes a client-centered approach that pairs credit restoration with credit education to keep you on the correct path. Go Clean Credit is one of the top credit repair companies in Phoenix for good reason!

Credit World Financial Services

At Credit World Financial Services, they understand that every profile is unique and every person has a different story. They have offered credit services for 12 years. Additionally, they are committed to challenging negative information on your credit report. They also work to resolve any debt, re-establish credit, address student loans, and more. For these reasons and many more, this is why Credit World Financial Services is one of the top credit repair companies in Phoenix. 

Lexington Law

Lexington Law prides itself on making the credit repair process easy and effective for their respective clients. Most clients have seen an average of 10.2 items removed within 4 months. Lexington Law has been around for 26 years, and helps clients gain reports from three major credit bureaus. Legal workers will direct your issues to the appropriate creditors and credit bureaus. 

Phoenix Credit Repair & Debt Consolidation Services

If you want a credit repairer whose faiths align with yours, Phoenix Credit Repair & Debt Consolidation Services is a company that puts their morals at the forefront of the credit repair process. In addition, they offer free consultations, and paired with their video tutorials, it makes the process simple. There are also various packages that allow you to choose the best price that suits your needs. Although Phoenix Credit Repair & Debt Consolidation Services may not be the most typical of credit repair companies in Phoenix, they get the job done. 

To learn more about the top credit repair companies in Phoenix, Arizona, contact Go Clean Credit! We can help you achieve your financial goals. What are you waiting for? Call Go Clean Credit now to schedule a free consultation!


No matter what your situation, Go Clean Credit has a solution. We have many credit repair programs that are available to help you overcome your credit situation and place you back on the path to financial success. Real credit restoration is not a once size fits all model and we tailor your needs to the right program, but most people can start for just $99 per month.

We have fixed price programs that get you back on track in as little as 5 months, debt resolution solutions, programs geared toward people who have had recent short sales or foreclosures and many others. Help is just a free phone call away or you can fill out an appointment request. Contact Go Clean Credit to schedule a free consultation today.

Veteran Credit Repair | How It Works

veteran credit repair

Credit Repair, Credit Scores, and Loans

Whether you’re a civilian or military member, most lenders require a minimum credit score of 620 to 640 to receive approval on a loan. In this article, you’ll learn more about how credit works for veterans, potential loan options, and how to repair a credit score to meet your financial goals.

First, Research All of Your Options.

Before we dive into credit scores and how it works. Let’s talk about the potential uses of a credit score, acquiring a loan. Understanding all of your options when seeking a loan is key to getting the best deal possible. Even veterans with fantastic credit and a 20% down payment may benefit from comparison shopping between conventional and VA loans.

Federal Benefits — Personal or Business?

Interested in buying a home? Veterans are eligible for VA home loans, which often require no down payment, no mortgage insurance, and have flexible underwriting requirements. An excellent resource to look into is the Veterans Benefits Administration website.

Ready to start a business? There are also grants, loans, and business development programs backed by the U.S. Small Business Administration. Prospective entrepreneurs look into financing by searching the Small Business Administration’s Office of Veterans Business Development website.

Assess Your Finances.

Consider all factors beyond your status as a veteran when making money decisions. The right choice for you will align with your current financial situation and goals. What are your financial plans for the next 6 months to a year? What financial habits are you looking to strengthen or stop? Make sure you’re financial goals and habits are leading you in the right direction.

Understanding Your Credit Score.

Part of assessing your financial plan includes reviewing your current credit score. The Fair, Isaacs Corporation, also known as FICO, created an algorithm for all three major credit agencies to use when calculating credit scores. This method creates your credit score by reviewing five different categories, with each category weighted.  See below for details:

veteran credit repair credit score

Credit Score Categories — Let’s Talk About Payment History.

Your payment history affects your credit score the most out of all other areas. The scoring algorithm determines if the borrower’s payments were on time and if they weren’t, how late they were. Late payments are categorized by more than 30 days late, more than 60 and more than 90. For each category, the algorithm drops the score more.

Where Does Available Credit Come In?

Your available credit is determined based on the number of outstanding credit accounts you have compared to the credit limit assigned to each account. The ideal amount of credit to use is around 30 percent of any credit limit. Scores typically improve when having a balance around this percentage. However, if an account has a zero balance, it will have little impact on your score.

Keep in mind, having a balance of more than 30 percent will result in your credit score falling.

Quick Credit Repair Options

The quickest way to repair credit scores is to focus on available credit and payment history. Make sure credit payments are consistently on time or paid no later than 30 days past due. Paying outstanding credit balances down to 30 percent of the available credit will help, too.

 


No matter what your situation, Go Clean Credit has a solution. We have many credit repair programs that are available to help you overcome your credit situation and place you back on the path to financial success. Real credit restoration is not a one size fits all model and we tailor your needs to the right program. Help is just a free phone call away or you can fill out an appointment request. 

Contact Go Clean Credit to schedule a free consultation today.

Equifax Data Breach Class-Action Lawsuits | Congress Repeals Rule

 Equifax data breach class action lawsuits

Class-Action Lawsuits Against Equifax

This last week, you may have heard the Senate voted to block consumers from suing Equifax as a class. There were approximately 143 million people whose personal information exposed during the data breach. And have already been more than two dozen lawsuits in federal court against Equifax.

In response to the data breach, the Consumer Financial Protection Bureau (CFPB) presented a rule barring the use of forced arbitration and restored the ability of people to file group lawsuits. The rule prevented financial companies that bind users by arbitration agreements from prohibiting those users from suing as a class.

According to news sources, Vice President Mike Pence had the tie-breaking vote to repeal the rule that could have made it easier for Americans to sue banks and credit card companies overall. Senators passed the measure to repeal by a vote of 51-50.

How To Protect Yourself From A Data Breach

While class-action lawsuits may be out of the picture, there are still a few ways you can protect yourself from suspected identity theft and future identity theft.

Credit Monitoring

Equifax data breach class action lawsuits

Consider signing up for credit monitoring if you do not already have it! You’ll receive alerts if there are any changes to your credit. We usually recommend this site, which monitors all three credit bureaus.

Once you begin receiving credit updates, you’ll be able to monitor for any suspicious activity being reported.  When signing up for credit monitoring check for trial periods and cancellation requirements to avoid unexpected fees and limitations.

Place a Security Freeze on your Credit Report

Equifax data breach class action lawsuits

A security freeze on your credit report helps prevent accounts from being opened in your name. All new accounts requested will be declined, and you will only be able to work with your current creditors.

You can place a “freeze” on your credit file by contacting each credit reporting company.

Fraud Alerts

Equifax data breach class action lawsuits

When you suspect your credit may have been compromised a fraud alert lets creditors and lenders know, this lasts up to 90 days. It’s something to consider when looking to protect your identity. It can also help prevent future theft.

To add a fraud alert, you’ll want to contact each bureau below by phone or online to each of your credit files.

Once you’ve placed an alert with one of the credit reporting agencies, they are required to tell the other two. They’ll ask that you provide your phone number in the event a credit request comes through during the 90-day timeframe. Setting up an initial fraud alert is a free way to provide you with added protection.

Extended fraud alerts are another form of protection to consider and lasts up to seven years. It requires creditors to contact you through the phone number, or another contact method you designate, to verify you’re the person making a credit request.

Contact us immediately if there is any new activity you don’t recognize or with any questions on how to protect yourself further.

 

News Sources: Tech Crunch | Yahoo! Finance | Reuters | CNN | GPO


No matter what your situation, Go Clean Credit has a solution. We have many credit repair programs that are available to help you overcome your credit situation and place you back on the path to financial success. Real credit restoration is not a one size fits all model and we tailor your needs to the right program. Help is just a free phone call away or you can fill out an appointment request. 

Contact Go Clean Credit to schedule a free consultation today.

Top Credit Repair Agencies in Gilbert, Arizona

top credit repair agencies gilbert arizona

Here’s Our List Of Top Credit Repair Agencies In Gilbert, Arizona

top-credit-repair-agencies

Go Clean Credit

The first credit repair agency on our list is Go Clean Credit.  Founded in 2003 in Arizona, specializing in credit repair and restoration. Go Clean Credit removes inaccurate and unverifiable negative items from credit reports – foreclosures, short sales, bankruptcies, collections, charge-offs, judgments, tax liens, late payments, repossessions, fraud…

Special programs are available to correct or expunge inaccurate mortgage or bankruptcy reporting. Fighting the unlawful behavior by creditors, collection agencies, the bureaus and consumer law attorneys and support litigation. While staying in compliance with the laws that govern the industry. Go Clean Credit uses state laws, the FCRA, FDCPA, FCBA, and disputes directly with creditors, courts, and the bureaus.

Go Clean Credit has a 100% money-back guarantee. Call today for FREE consultation.

Elementary Credit Repair

Second on our list is Elementary Credit Repair. Looking to help consumers by ensuring every they have access to a fair and accurate credit report. Helping clients with their in-depth knowledge and understanding of the laws/acts surrounding debt collection, credit reporting, and credit repair.

Simple Solutions & Consulting

Third on our list is Simple Solutions. Their mission is to help consumers who are experiencing credit and debt problems obtain great credit again, can save money and have a brighter financial future. Simple Solutions gives a personalized credit and debt consulting service. Taking care of clients in all 50 states.

A Team Credit Consulting

A Team Credit Consulting is a financial wellness company that takes a holistic approach to your financial situation.  Certified through Simple Solutions Credit Consultant Training. Following all state and federal laws, they specialize in creating roadmaps that lead to healthy credit and higher credit scores.

We hope this article helped you select the right credit repair agency in Gilbert, Arizona for you. Are you curious about other credit repair agencies not mentioned in this post? Do you work with a credit repair agency we didn’t list? Share your experience with us, we’d love to hear from you!

Top Credit Repair Agencies in Mesa, Arizona

Can your credit really be restored? How long does it take? These are questions you may have when facing a credit crisis. Good credit is all about knowing how the system works and having the tools to get the FICO score you need. That’s why we’ve put together a list of top credit repair agencies in the Mesa, Arizona Area for you to choose from.

 

Here’s Our List Of Top Credit Repair Agencies In Mesa, Arizona

top-credit-repair-agencies

Go Clean Credit

The first credit repair agency on our list is Go Clean Credit.  Founded in 2003 in Arizona, specializing in credit repair and restoration. Go Clean Credit removes inaccurate and unverifiable negative items from credit reports. This includes foreclosures, short sales, bankruptcies, collections, charge-offs, judgments, tax liens, late payments, repossessions, fraud.

Special programs are available to correct or expunge inaccurate mortgage or bankruptcy reporting. Fighting the unlawful behavior by creditors, collection agencies, the bureaus and consumer law attorneys and support litigation. While staying in compliance with the laws that govern the industry. Go Clean Credit uses state laws, the FCRA, FDCPA, FCBA, and disputes directly with creditors, courts, and the bureaus.

Go Clean Credit has a 100% money-back guarantee. Call today for an FREE consultation.

My Credit Guy Credit Restoration

Second on our list is My Credit Guy, specializing in preparing clients for mortgage loan approval. Offering services to consumers directly to remove inaccurate/negative items on the credit report. Helping to satisfy and settle outstanding/verified debts, and establish new/positive tradelines. Free consultations with My Credit Guy are available.

Arizona Credit Medix

Third on our list of top local credit repair agencies is Arizona Credit Medix. Established in 2011. AZ Credit Medix, LLC is a Credit Restoration, Debt Negotiation, and Business Credit company. AZ Credit Medix, LLC understands the needs of our clients/industry and have developed systems to provide the fastest results possible.

Arizona Credit Medix provides sliding scale pricing and flexible payment terms. Specialities include credit restoration, student loan consolidation, credit coaching, debt counseling, debt verification, secured credit cards, small business benefits.

 

We hope this article helped you select the right credit repair agency in Mesa, Arizona for you. Are you curious about other credit repair agencies not mentioned in this post? Do you work with a credit repair agency we didn’t list? Share your experience with us, we’d love to hear from you!

Can You Get a Home Improvement Loan with Bad Credit in Arizona?

home improvement

Your head is spinning because there’s another issue with your new “Dream Home” that has come at you unexpectedly. You overcame the first-time home buyers with bad credit hurdle but now that you’ve moved in, it’s clear that the house is in need of work to make it a place you’re ready to enjoy living in.

Can you get a home improvement loan with bad credit in Arizona?

The answer is yes, but it may take a bit of creative thinking and work on your part to get the money you need to make the repairs happen.

First up, check to see if the U.S. Department of Housing and Urban Development has a program that you qualify for that will help finance the costs of the improvement. They have plenty of tips on how to choose through all the options whether you’re looking to do-it-yourself or hire a professional to do the desired upgrades.

Second, consider speaking with your mortgage bank to see if a home equity loan is possible. They have a vested interest as you do; improve the value of the home. Making improvements to your house may not just improve your standard of living. It could improve the house’s total value should you need to sell in the near term future.

Next, look at options in micro-lending services such as Prosper. While the interest rate of the loan may be more than government or home equity loan, your ability to appeal person to person could be the difference in getting the cash you need.

Finally, consider asking a family member or close friend to co-sign a loan with a traditional bank. By asking them to do this, you and the co-signer are both taking on the debt and the risk of repaying the loan. Their signature could give you a much better interest rate, too. It could make the difference between getting a home improvement loan with bad credit or not.

The best way to increase your chances of getting a loan through traditional banks is to improve your credit score.

Improving your score will directly affect your interest rates and remove hurdles in order to get the financing you need.

No matter what your situation, Go Clean Credit has a solution. We have many credit repair programs that are available to help you overcome your credit situation and place you back on the path to financial success. Real credit restoration is not a once size fits all model and we tailor your needs to the right program, but most people can start for just $99 per month.

We have fixed price programs that get you back on track in as little as 5 months, debt resolution solutions, programs geared toward people who have had recent short sales or foreclosures and many others. Help is just a free phone call away, or you can fill out an appointment request. Contact Go Clean Credit to schedule a free consultation today.

What you should do about the Equifax data breach

what you should do about the equifax data breachAs you may be aware, there has been a data breach at Equifax. There were 143 million people whose personal information was exposed.

Here are the facts, according to Equifax. The breach lasted from mid-May through July. The hackers accessed people’s names, Social Security numbers, birth dates, addresses and, in some instances, driver’s license numbers. They also stole credit card numbers for about 209,000 people and dispute documents with personal identifying information for about 182,000 people.

What should you do about the Equifax data breach?

The problem is the information is evolving every day. There have been more than two dozen lawsuits in federal court against Equifax. One website has gone up that allows you to sue Equifax with one click. The site Equifax launched to reveal whether or not you have been impacted has been seriously questioned. And, Equifax is pivoting it’s message as public response pours in.

As this situation evolves, there are some simple things you should do in response to the Equifax data breach.

Here is what you should do about the Equifax data breach:

1. Credit Monitoring

Whether your information has been exposed or not, it is ALWAYS a good idea to be enrolled in credit monitoring.

If you do not already have it, you should sign up. When you have credit monitoring, you will receive alerts when there are any changes with your credit, which will help avoid any surprises when it comes time to get a loan or credit. We usually recommend this site, which monitors all three bureaus.

Using credit monitoring services to monitor your credit reports is one of the best automated ways to detect false information that negatively impact your credit scores. By simply signing up for a credit monitoring service, you will receive notifications anytime your scores change. If there’s a drastic change, then you know that you may have suspicious activity reporting.

Fortunately, there are a variety of free and paid credit monitoring services out there to monitor your credit. In fact, today many credit card companies and credit bureaus are offering their own credit monitoring services to consumers.

If you’re offered or considering an identity monitoring or credit monitoring service, make sure you check for trial periods, fees, cancellation requirements, and other restrictions so that you don’t face unexpected fees, charges, or other limitations.

Here are some of the best credit monitoring services to monitor your credit.

Here is what you may think about doing in response to the Equifax data breach.

1. Place a Security Freeze on your credit report

A security freeze on your credit report generally prevents new credit and accounts from being opened in your name.

All new accounts that are requested will be declined and you will only be able to work with your current creditors. You will need to call each reporting agency and place the freeze yourself. It will be quite a process to thaw your credit, but unless you need credit to buy a home or car in the near future, it is an option that offers more protection.

You can place a “freeze” on your credit file by contacting each credit reporting company.

2. Fraud Alerts

A fraud alert lets creditors and lenders know your credit report may have been compromised. The alert lasts 90 days, and is a good step to take as it will protect your identity and will protect you from future theft – even if you only suspect identity theft.

You can add a fraud alert to each of your credit files by going online or calling each bureau.

Once you place a fraud alert with one of the reporting agencies, they are required to tell the other two agencies. You’ll provide your phone number to the bureaus so you can be contacted in case anyone asks for credit in your name within your fraud alert timeframe. If someone does ask for credit, then the creditor will contact you to verify your identity and find out if you placed the request.

Setting up an initial fraud alert is free and means that you’re protected from identity thieves opening more accounts in your name. This gives you time to clear up the bad accounts.

How Fraud Alerts Help With Credit Protection.

There are also extended fraud alerts. An extended alert is for identity theft victims and is good for seven years. It requires that creditors contact you through the phone number or other contact method you designate to verify you’re the person making the credit request.

Contact us immediately if there is any new activity you don’t recognize. Please contact us with any questions.

Thank you!

Top 5 Credit Repair Books To Read When You Have Bad Credit

Top 5 Credit Repair Books To Read When You Have Bad Credit

For those who still enjoy a good book, and also have bad credit, there is hope. Plenty of experts have put their pens to the page to help people improve their scores. If you’re hoping for a lot of details and not quite finding all the information you’re looking for online, check out our top picks for credit repair books.

Top 5 Credit Repair Books To Read When You Have Bad Credit

*The following are the synopses found on the backs of the books.

1. Raise Your Credit Score In 10 Easy Steps! (Create Your Money Series)

by Angel Love

“…Angel Love has helped thousands of people all over the country learn real strategies to raise their credit scores. This book is for anyone who wants to understand all aspects of the credit score, from the differences between the various scoring models, to how they’re calculated. Save hundreds, if not thousands of dollars on the cost of credit by implementing these practical solutions to managing your personal finances today!

  • Learn why you have a different credit score at each of the 3 major credit reporting agencies!
  • Find out the one thing that prevents a high score (780) from being an 800!
  • Discover what consistently drops your score by 12-20 points each time you do it!
  • Figure out how to rebuild credit after a bankruptcy, or establish credit when you’ve never had it before!
  • Discover little-known information on accessing your report from the 4th credit bureau, as well as the other agency that collects widely reported information about you!
  • Learn where to find the money to pay off your credit card bills!

This book offers complete and concise information on raising your score, and avoiding the things that decrease your score. Learn to think like the credit scoring models and qualify for the most competitive interest rates on houses, cars, and insurance policies! Get this book today and be a part of that elite club with 800+ credit scores, and enjoy greater financial freedom!”

2. How to Get Out of Debt, Stay Out of Debt, and Live Prosperously*: Based on the Proven Principles and Techniques of Debtors Anonymous

by Jerrold Mundis

“THE CLASSIC GUIDE, REVISED WITH UP-TO-THE-MINUTE INFORMATION

OUT OF THE RED

  • Do this month’s bills pile up before you’ve paid last month’s?
  • Do you regularly receive past-due notices?
  • Do you get letters threatening legal action if immediate payment is not made?
  • Do the total amounts of your revolving charge accounts keep rising?

INTO THE BLACK

Whether you are currently in debt or fear you’re falling into debt, you are not alone. Sixty million Americans—from doctors to secretaries, from executives to the unemployed—face the same problem and live under the same daily stress. Based on the proven techniques of the national Debtors Anonymous program, here is the first complete, step-by-step guide to getting out of debt once and for all. You’ll learn

  • how to recognize the warning signs of serious debt
  • how to negotiate with angry creditors, collection agencies, and the IRS
  • how to design a realistic and painless payback schedule
  • how to identify your spending blind spots
  • how to cope with the anxiety and daily pressures of owing money
  • plus the three cardinal rules for staying out of debt forever, and much more!

This book is neither sponsored nor endorsed by Debtors Anonymous. A recovered debtor, the author is intimately familiar with the success of the Debtors Anonymous program.”

3. The Spender’s Guide to Debt-Free Living

by Anna Newell Jones

“An inveterate spender, Anna Newell Jones was desperate to end the cycle of overspending, debt, and shame. On a whim, Anna decided to go on a Spending Fast – an idea she’d heard in passing but knew little about. Creating her own method to pay down her debt, she learned what worked and what didn’t and wrote about it on her blog, AnThenWeSaved.com. Amazingly, Anna was able to eliminate all $23, 605.10 of her debt in a mere fifteen months – while making only $33,000 a year! Anna’s journey has inspired people and shown them that they too can change the way they deal with their own money woes. The Spender’s Guide To Debt-Free Living takes readers through a detailed step-by-step plan for their own Spending Fast, including:

  • Creating a personalized Debt-Free Life Pledge.
  • Mastering Needs-Only spending
  • Finding additional income sources and generating side gigs.
  • Learning techniques to handle difficult categories such as clothes, groceries, and social situations.
  • Dealing with slip-ups and recommitting to debt reduction.
  • Re-integrating spending into your life once you’re out of debt, so that you stay out of debt.

Filled with do-it-yourself ideas, insight from experts, and tons of motivational tips and real-life practical advice, The Spender’s Guide to Debt-Free Living proves that you don’t have to win the lottery or get a new job to change your life.”

4. 33 Ways To Raise Your Credit Score: Proven Strategies To Improve Your Credit and Get Out of Debt

by Tom Corson-Knowles

I Believe Anyone Can Dramatically Raise Their Credit Score Using These Proven Credit Strategies

You could raise your credit score by 25 points or more overnight with just one of these credit tips.
In this book, you will discover:

  • Easy To Understand Action Steps Show You The Keys To A Better Credit Score
  • How To Instantly Improve Your Credit Score By 20 To 30 Points
  • How To Make Credit Repair Easy, Quick and Painless
  • How To Get a Free Credit Score Without Any Hassle or Hidden Fees
  • How To Get A Huge Discount On Your Mortgage Rates
  • How To Save As Much As $500 On Your Cell Phone Plan
  • Have The Ideal Number of Credit Cards To Maximize Your Credit Score
  • How To Get Better Rates On Car Insurance And Auto Loans”

5. Credit Repair Kit For Dummies

by Steve Bucci

Jump-start your credit score with this comprehensive credit repair guide

If you need to clean up your credit, this updated resource is full of information to help you get your credit reports looking great, pay down debt, and keep your credit clean. You’ll find out how to deal with debt collectors, dispute inaccurate information in your credit reports, and set financial goals to stay on track.

  • Simple, proven steps – get an overview of working with debt collectors, filing for bankruptcy, and more
  • Rebuilding credit – explore options for starting or restarting credit, recovering from bankruptcy or identity theft, and much more
  • Big brother – find out how credit reporting works, how your spending is watched, and how to monitor your credit for optimal results
  • Credit management for life – discover how to create a realistic spending plan and protect your credit during major life changes
  • FICO facts – dive into the latest information on FICO and VantageScore credit scoring
  • Student loans 101 – find out how to best deal with student loans and avoid defaulting
  • Mortgage meltdown – get updated information on how to keep your home when foreclosure looms”

Have you read any of these credit repair books? Do you have another one that helped you with your credit score? Let us know! If you have any credit questions, call us today at 1-866-991-4885.


No matter what your situation, Go Clean Credit has a solution. We have many credit repair programs that are available to help you overcome your credit situation and place you back on the path to financial success. Real credit restoration is not a once size fits all model and we tailor your needs to the right program, but most people can start for just $99 per month.

We have fixed price programs that get you back on track in as little as 5 months, debt resolution solutions, programs geared toward people who have had recent short sales or foreclosures and many others. Help is just a free phone call away, or you can fill out an appointment request. Contact Go Clean Credit to schedule a free consultation today.

You’re Grounded! What To Do When Your Child Ruins Your Credit

what to do when your child ruins your credit

You’re always so cautious when it comes to your credit. What happens when it’s your child that hurts your credit, though? You can’t just ground them and suddenly everything is back to normal. Sure, you could, and probably should, talk to them about the importance of credit and being responsible with money. There are ways to stop your score’s decline before it gets worse, so here’s what to do when your child ruins your credit.

What to do when your child ruins your credit

When your child ruins your credit through a loan

Let’s say your child is unable to get financing on their own, so you co-sign on their loan. Your arrangement is that they have to make all the payments. Except they don’t. Unfortunately, the lender won’t care that you’re not the one who didn’t make the payment on time, if at all. It is your name on the loan, therefore it is your credit that will be affected.

When the late payments first become a problem, talk to your child about the importance of making their payments. Maybe they don’t realize that by not paying on time, they’re hurting your credit. Help them come up with a budget and a way to make sure they get the payments sent in by the due date.

If late payments are continuing to be a problem, then call your lender. They don’t want you to default, so there’s a chance they’ll work with you. Although it isn’t the best solution, this can sometimes mean a temporary deferral of the loan.

When your child ruins your credit through a credit card

You might also decide your child is ready to use a credit card and make them an authorized user on yours. The hope might be that they’ll prove themselves responsible so maybe they can eventually get their own. This leaves the door open to them spending more than you can afford to pay off. If this happens, or they add enough expenses to max out your card, it will hurt your credit.

Thankfully, this one is an easy fix. Of course, talk to your child about their spending first, then proceed to take them off your card as an authorized user, if you must. From there, just continue to make your payments on time to start working on getting your credit score back to where it was before.

Do you have questions about what to do when your child ruins your credit? Let us know! To enlist the help of a trustworthy, effective credit repair company, call us today at 1-866-991-4885!


No matter what your situation, Go Clean Credit has a solution. We have many credit repair programs that are available to help you overcome your credit situation and place you back on the path to financial success. Real credit restoration is not a once size fits all model and we tailor your needs to the right program, but most people can start for just $99 per month.

We have fixed price programs that get you back on track in as little as 5 months, debt resolution solutions, programs geared toward people who have had recent short sales or foreclosures and many others. Help is just a free phone call away, or you can fill out an appointment request. Contact Go Clean Credit to schedule a free consultation today.

What Happens To Your Credit When You File Bankruptcy?

What Happens To Your Credit When You File Bankruptcy

If you are facing a tough decision with your finances—namely, bankruptcy—it’s important to understand the aftermath. What happens to your credit when you file bankruptcy? How do you move forward following a bankruptcy?

What Happens To Your Credit When You File Bankruptcy?

First things first: Don’t panic.

Many people consider bankruptcy when looking to relieve debt stress. However, the damage may not be as bad as you think. You also have options to rebuild your credit.

A Chapter 7 bankruptcy involves the collection as well as the liquidation of non-exempt assets. The non-exempt assets’ proceeds are then distributed to your unsecured creditors. This is generally a faster process than a Chapter 13 bankruptcy—which calls for a 3-year to 5-year repayment plan. There are a few differences when looking at these two types of bankruptcy, including what happens to your credit when you file bankruptcy.

Both Chapter 7 and Chapter 13 cases will be reported under the public record section of your credit report. This same section of your credit report is where court cases involving creditor judgments are listed.

A bankruptcy case will be reported in the public records section for 7-10 years, depending on the bankruptcy case filed. The creditors listed in your bankruptcy case (who are later discharged in the bankruptcy) will still show up on your credit report. These accounts will be labeled “Included in Bankruptcy.”

  • Chapter 13 bankruptcy shows up for 7 years
  • The bankruptcy will be deleted from the public records section 7 years from the filing date of the bankruptcy case
  • Chapter 7 bankruptcy shows up for 10 years
  • The bankruptcy will then undergo deletion from the public records section 10 years from the filing date of the bankruptcy case

For many of those who are suffering from financial troubles, your credit has probably already taken a hit from late payments, judgments, high balances as well as charge-offs. If this resembles your current situation, then your credit score might only be slightly lower, the exact same, or potentially a little bit higher. Bankruptcy can sometimes provide you and your credit report with a fresh start.

As previously noted, your bankruptcy filing will be listed – and this occurs in place of judgments or high balances. Thus, it can help equalize your credit report.

During a Chapter 13 bankruptcy case, you’ll get the chance to boost your credit score with every on-time monthly payment you make while the case is pending. If you can file a Chapter 7 case, you should be able to begin working to rebuild your credit in just a matter of months due to the typically short duration of such bankruptcy cases.

Still wondering what happens to your credit when you file bankruptcy? Take a look at Chapter 7 bankruptcies.

Chapter 7 Bankruptcy

A Chapter 7 bankruptcy will remain on your credit report for up to ten years. Furthermore, because any debts associated with this type of bankruptcy are discharged within just a few months of filing, they should fall off the report a couple of years before the bankruptcy itself. Generally, discharged debt comes off your credit report after seven years.

Essentially, as the items on your report associated with the bankruptcy grow older, they will have less and less of an impact on your credit score. This might also speak to the timeliness of filing for bankruptcy (as opposed to allowing collections accounts to linger and then filing later on).

FURTHER READING ON BANKRUPTCY:

How Long Do Derogatory Items Stay On Your Credit Report?

Bankruptcy

Credit Repair After Bankruptcy

Have you asked yourself, “What happens to your credit when you file bankruptcy?” Go Clean Credit offers effective services to bring your credit score back up. Contact us today!


No matter what your situation, Go Clean Credit has a solution. We have many credit repair programs that are available to help you overcome your credit situation and place you back on the path to financial success. Real credit restoration is not a once size fits all model and we tailor your needs to the right program, but most people can start for just $99 per month.

We have fixed price programs that get you back on track in as little as 5 months, debt resolution solutions, programs geared toward people who have had recent short sales or foreclosures and many others. Help is just a free phone call away, or you can fill out an appointment request. Contact Go Clean Credit to schedule a free consultation today.