Frequently Asked Questions

 Credit Restoration is the process of reviewing your credit report, finding errors, and sending credit dispute letters to address any inaccurate, obsolete, or unverifiable items. Whether these negative items are bankruptcies, tax liens, repossessions, foreclosures, student loans, medical bills, or any other items that fall into these three categories can be disputed. Through the Fair Credit Reporting Act (FCRA), you have the legal right to dispute any information on your report. 

Credit Restoration gives you your buying power back and saves you tens of thousands of dollars. Low credit scores put you at risk for high interest rates which in return makes a consumer pay high security deposits, spend more money in interest on credit cards, mortgages, or car note. You may be unable to get a job you are qualified for due to having bad credit. Ultimately, Credit Restoration gives you your JOY back. 

We obtain your credit report with your consent, perform a detailed analysis, and then prepare your dispute letters tailored to your credit report. We go over the letters with the client before sending them via email or through U.S. mail. We advise our clients to get their letters notarized. You attach your legal documents (SSN Card & DL), sign and mail them to the credit bureaus. The credit bureaus have up to 45 days to respond. 

We always recommend mailing your dispute letters certified with a tracking number so that you can be assured they were received by the agencies. If you have not received anything after 45 days, the best first step is to call the agencies directly to inquire about the status of your letters. 

Please see the Consumer Financial Protection Bureau website below on consumer education. 

https://www.consumerfinance.gov/ask-cfpb/what-can-i-do-if-i-disagree-with-theresults-of-a-credit-report-dispute-en-1327/ If the agencies have received your letters, they will be able to resend out your responses. 

The contact numbers are provided below: 

• Experian: 1 (888) 397-3742 

• Equifax: 1 (888) 548-7878 

• TransUnion: 1 (800) 916-8800 

Your Payment History : Your payment history determines approximately 35% of your current credit score. The credit scoring model is looking to see if you have paid your bills on time in the past and if you are currently behind on any of your bills. Specifically, the score will calculate the total number of accounts paid on time and the number of accounts past due. Past due accounts will be rated by the amount past due, length of time past due, and how recently it was past due. 

Your outstanding debt determines approximately 30% of your credit score. The scoring model will evaluate three categories: 

• The total amount you owe to all your creditors. 

• How many accounts you have with balances – too many accounts could indicate a higher credit risk of default if the client can’t handle the payments. 

• How much of the credit limit you are using on revolving accounts, under 30% -35% of the available credit limit is ideal.

 • Balances on installment loans - low balances reflect a positive payment history 

Approximately 15% of your credit score is calculated by the length of your credit history. This category looks at how long your accounts have been opened and the length of time since the last activity on the account. A long credit history will maximize your credit score although a short credit history with responsible use of credit is fine.  

Approximately 10% of your credit score, this category will weigh the amount of inquiries for new credit over the period that it occurred. In other words, the scoring model will determine if you were rate shopping for a specific loan over a short period of time or if you are opening several new trade lines, and possibly overextending yourself.  

10% of your credit score is derived from the type of credit you have managed on your credit report. The ideal model is to have a mortgage, a car loan, credit cards, reflecting positive payment histories. The credit score is looking to see that you have obtained and used credit different types of credit responsibly.