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LSI Credit Solutions
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LSI Credit Solutions is a company with one goal-repairing credit reports. We have helped a lot of Americans repair their credit reports by removing inaccurate, misleading, or unverifiable information (in other words, "questionable" negative credit) and from bankruptcies to charge-offs to tax liens, we have challenged virtually every credit problem under the sun. |
Address: Redmond, WA, 98052
Click here to see the full address
Website: LSI Credit Solutions | | Phone Number |
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LSI Credit Solutions
"Improving your credit"
Our main focus is your success!!!
We are good at what we do because we believe in our work, because we enjoy what we do and we are committed to our clients. And that means we have obtained amazing results. Results that can literally turn a person's life around.
Our service is engineered from the ground up with credit report repair in mind.
First, LSI's results-tested regular service utilizes the Fair Credit Reporting Act to remove inaccurate and unverifiable items from your credit reports. Second we incorporate additional legal interventions which may expedite your results. Last but not least we guide and advise you throughout the whole process with instruction and other benefits designed to help you improve and protect your credit ratings.
The Importance of Your Credit Rating
People have become increasingly dependent on credit. Therefore, it's crucial that you understand personal credit reports and your credit ating (or score). Here we'll explore what a credit score is, how it is determined, why it is important, and some tips to acquire and maintain good credit.
What Is a Credit Rating?
When you use credit, you are borrowing money that you promise to pay back within a specified period of time. A credit score is a statistical method to determine the likelihood of an individual paying back the money he or she has borrowed.
Scores range between 350 (extremely high risk) and 850 (extremely low risk).
What Makes up Your Credit Score?
When you borrow money your lender sends information to a credit bureau which details, in the form of a credit report, how well you handled your debt. From the information in the credit report, the bureau determines a credit score based on five major factors: 1) previous credit performance, 2) current level of indebtedness, 3) time credit has been in use, 4) types of credit available, and 5) pursuit of new credit.
Why Your Credit Rating Is Important?
When you apply for a credit card, mortgage, or even a phone hookup, your credit rating is checked. Credit reporting makes it possible for stores to accept checks, for banks to issue credit or debit cards, and for corporations to manage their operations. Depending on your credit score, lenders will determine what risk you pose to them.
According to financial theory, increased credit risk means that a risk premium must be added to the price at which money is borrowed. Basically, if you have a poor credit score, lenders will not shun you (unless it is utterly awful), but lend you money at a higher rate than the one paid by someone with a better credit score.
Credit Is a Fragile Thing
Being aware of your credit and your credit score is very important, especially since you can harm your credit without even being aware of it.
Tips to Improve or Maintain a High Credit Score:
Make loan payments on time and for the correct amount.
Avoid overextending your credit. Unsolicited credit cards that arrive by mail may be tempting to use, but they won't help your credit score.
Never ignore overdue bills. If you encounter any problems repaying your debt, call your creditor to make repayment arrangements. If you tell them you are having difficulty, they may be flexible.
Be aware of what type of credit you have. Credit from financing companies can negatively affect your score.
Keep your outstanding debt as low as you can. Continually extending your credit close to your limit is viewed poorly.
Limit your number of credit applications. When your credit report is looked at, or "hit," it is viewed as a bad thing. Not all hits are viewed negatively (such as those for monitoring of accounts, or prescreens), but most are.
Credit is not built overnight. It's better to provide creditors with a longer historical time frame to review: a longer history of good credit is favored over a shorter period of good history.
Conclusion
The importance of credit today is significant; overlooking this fact can be very detrimental to your financial health. Being aware of how your credit score is calculated is essential. By following the tips we have laid out for you, you should be able to either maintain or improve your credit score. If you have additional questions our professional staff here at LSI will be happy to assist.
Please, do not hesitate to contact us
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