You have probably heard offers that can help you to quickly raise your credit score if you are struggling with a mortgage, loan, or even credit card debt. Depending on how you look at them, they are both good and bad at the same time. Ethically, many strategies that they use are not that good. After all, what can you say about receiving a pay slip from a fake employer in the name of raising a credit score?
A detailed look into these offers will reveal surprising strategies, some of which people who need a boost in their credit score agree with and others they do not.
Piggybacking
Many people piggyback on other people's credit cards so that they can enjoy their rich credit history. A good example is when a student gets added as an authorized user on their parent's credit card. The reporting agencies recognize this option and raise the credit score of the rider.
But there is also the offer of buying tradelines. This is paying to get piggybacked to a credit history that you do not know. An agent brings the rider and the carrier together where the latter gets paid for this.
If you are willing to go in this direction, it is crucial to know that there is a fee to pay. If you visit the Boostcredit101 website, you will get the right insights into boosting your credit through buying trusted and reliable tradelines.
Credit Repair Companies
It is not wrong to look for a professional to help you in raising your credit score after damaging it. Many individuals and companies have done this. However, who you approach and the strategies they are going to use matter a lot. Legit professionals use legal means that do not lead to loan fraud. In other words, they do not have the intention of putting your credit history into any jeopardy.
Apart from getting you a reliable credit card holder to piggyback on or helping you to buy affordable tradelines, they also apply other methods.
Negotiating with lenders – The main challenge that hurts the credit score for both individuals and companies is defaulting on a loan or mortgage. If the reason is lack of finances, credit repair companies usually negotiate with lenders so that you can get an affordable repayment plan. With this, your journey to improve your credit score will start.
Financial planning advisory – Even with a loss of a job, business, or any other source of income, one has to pay for their due loans. These experts come in handy by helping people with how to plan for their payment so that they can meet the obligation to repay their loan. Afterwards, they will have already negotiated with the lenders for you.
Conclusion
As you can see, offers to raise your credit score depend on how you look at them. But also, the experts that you involve play a big role. If they are not willing to use the right procedures, it is better to keep away. In many cases, legit experts will take you through the right channels as implied by the shared insights.
