Assistance Removing Foreclosure and Short Sales from Your Credit
Some of the most damaging items that can show up on your credit history are home foreclosures and short sales. By working with the credit management professionals at Global Credit Repair Services LLC, you’re able to erase many of these items from your credit history and improve your credit score drastically so you can get on with improving your financial life.
Many people are unaware of a short sale’s effect on credit because a short sale results in no outstanding debts. Unfortunately, a short sale or foreclosure do affect credit scores, so it’s important to get them erased as soon as possible. Our team can help you accomplish this.
How Long Does it Take for My Credit Score to Improve?
Because every client’s credit history is different, the length of time required to see results varies case by case. The average time for our credit renovation program is four to eight months and depends on a number of factors that your case management team can discuss with you.
What does foreclosure do to your credit? What about a short sale? Both events have the ability to seriously damage your credit score, but a foreclosure tends to look worse because it means that you’re not working with your bank to find a solution. The higher your credit score, the more these events hurt it. According to the Fair Isaac Corporation (FICO), which determines your credit score, a foreclosure or short sale can drop your credit score by up to 105 points if your original score is 680. If your original score is 780, these items can drop it by up to 160 points.
What Process Does My Credit Management Team Take?
During our credit renovation program, our skilled management team disputes all questionable negative items on your credit report as we do in our credit repair 101 program. In addition, we pay special attention to foreclosures and short sales, which affect your credit score significantly. While a short sale or foreclosure may affect your credit, it is possible to repair much of the damage. Our clients typically see between 8-10 deletions in the first four months of the program.
During the credit repair process, we review your entire credit history to isolate any negative items to dispute. We initiate disputes with all three credit bureaus on your behalf so you don’t have to worry about it. As these negative items are removed, your credit scores with each bureau will begin to improve. Once your scores are up, you’re able to apply for lower interest rates, higher credit limits, or the loans you need to accomplish your goals.
Get started on the path to a better financial future by reaching out to our team today.