CREDIT RESTORATION by fsrs inc.

SINCE 2017 WE ARE HELPING PEOPLE TO FIX AND MAINTAING THERE CREDIT PROFILE 100 % ACCURANT

Understanding Credit Scores and How They Work

10% Hard Inquiries

You decide to apply for a new credit card. The credit card company checks your credit report to assess your creditworthiness before approving your application. This is a hard inquiry.

10% Credit Mix

10% Hard Inquiries

Credit Mix refers to the variety of credit accounts you have, such as credit cards, mortgages, auto loans, student loans, or personal loans. Lenders like to see that you can manage different types of credit responsibly.

15% Credit Length

10% Hard Inquiries

30% Credit Utilization

Credit Length, or Length of Credit History, refers to how long you’ve had credit accounts open. It includes the age of your oldest account, the age of your newest account, and the average age of all your accounts.

30% Credit Utilization

Bonus! Keep your Credit Health

30% Credit Utilization

Credit Utilization is the percentage of your available credit that you’re using. It’s a major factor in your credit score (about 30%). Keeping it low (ideally under 30%) shows lenders you’re not over-reliant on credit.

35% Payment History

Bonus! Keep your Credit Health

Payment History is the record of how consistently you’ve paid your bills on time. It’s the most important factor in your credit score, making up about 35%. Late payments, defaults, or missed payments can significantly hurt your score, while on-time payments build trust with lenders and boost your creditworthiness. Always pay at least the minimum amount due by the due date to maintain a strong payment history!

Bonus! Keep your Credit Health

Tips to Improve or Maintain Your Score:

Always pay your bills on time.
Keep your credit card balances low relative to your credit limits.
Avoid opening too many new accounts in a short period.
Maintain a mix of credit types (e.g., credit cards, loans).
Regularly check your credit report for errors and dispute any inaccuracies.

"Our company fully complies with CROA"

CREDIT REPAIR ORGANIZATION ACT ( CROA )

The Credit Repair Organizations Act (CROA) is a federal law in the United States designed to protect consumers from deceptive and unfair practices by credit repair companies. Enacted in 1996, it sets strict guidelines for how credit repair organizations must operate. Here are the key provisions of CROA:

Purpose of CROA:

CROA aims to ensure transparency, fairness, and accountability in the credit repair industry, protecting consumers from scams and unethical practices. It empowers individuals to take control of their credit health while holding credit repair organizations to high standards of conduct.

For more information, you can refer to the Federal Trade Commission (FTC), which enforces CROA and provides resources for consumers.

Key Provisions of CROA:

1. Prohibition of Upfront Fees:

Credit repair companies cannot charge or collect any fees until they have fully performed the promised services.

2. Written Disclosure Requirements:

Companies must provide a written contract detailing the services to be performed, the timeframe for results, the total cost, and the consumer’s rights, including the right to cancel within three days without charge.

3. Right to Cancel:

Consumers have the right to cancel the contract within three business days without any penalty or obligation.

4. No False Claims:

Credit repair organizations cannot make false or misleading claims about their ability to improve a consumer’s credit score or remove accurate negative information from a credit report.

5. Disclosure of Consumer Rights:

Companies must inform consumers of their legal rights, including the fact that they can dispute inaccurate information on their credit reports for free through the credit bureaus.

6. Prohibition of Unfair Practices:

Companies cannot advise consumers to make false statements to credit bureaus or create a new credit identity (e.g., using an Employer Identification Number (EIN) instead of a Social Security Number).

7. Right to Sue:

Consumers have the right to sue credit repair organizations that violate CROA, potentially recovering damages and attorney’s fees.

Find out more