When your credit score is high, you can shop for new homes, buy a new car, or get a line of credit to get that business off the ground. But when your credit score is less than stellar, it can be hard to do much of anything financially without facing rejection.
Instead of spending months spinning your wheels, wasting time trying to DIY your credit repair, consider professionals like William Frazier of The Credit Elect. While the basic principles of acquiring and maintaining credit may seem straightforward, reversing the damage done to your credit can be difficult to reverse on your own. Frazier helps people get harmful entries on their credit reports removed, ultimately, raising their score.
“I got into this field of work because initially, I had credit issues myself. While I was working at my last job, a bank, a lot of people would come to me and they would have credit issues,” Frazier said. “They would get denied and then they didn’t know what to do to repair things.”
Once Frazier thought of the business idea, he got to work repairing his own credit first. Then he began offering his services to some of those same customers who were rejected for credit at the bank. He soon left his job and now works full-time on The Credit Elect, helping other people repair their credit and start their own credit repair businesses.
Credit repair services work by applying consumer protection laws to find errors or misinformation on a credit report and then using that information to get negative items removed. Although it sounds simple, Frazier says that without proper guidance and information, people often dispute things that can actually hurt their credit score.
To start this process with new clients, The Credit Elect asks them to share their ultimate goal (like homeownership or launching a business) with the company. Frazier says this is the key to getting the most out of his services.
“The Credit Elect’s goal is to get them where they need to be so they stay there. The goal is to educate people about all the things they can do on their end. Even with the credit repair process, the goal is to let clients know what their job is so that they don’t mess up the work that I do.”
Frazier encourages everyone to check their credit often. For those who plan to make a big purchase within the next 12 months, he suggests checking your credit report as often as once a month.
“Anything can happen, and your credit score is updated monthly,” he warned. “You don’t want any surprises when it’s time to buy or apply.”