Top Rated Credit Repair
Memphis, Tennessee

Best Memphis Credit Repair – Improving Bad Credit Score

The citizens of Memphis, Tennessee, aren’t in the most enviable of financial situations. Memphis has a higher unemployment rate and sales tax than the US average which affects its citizens’ overall buying power. Add financial institutions looking to benefit from exorbitant interest rates to the mix, and you get a highly unfavorable economic climate. The situation might seem helpless, but it’s not. That’s what they want you to think. In reality, there is something you can do — you can get the best Memphis credit repair service there is.

Bad Credit Score Affects Many People in Memphis

There are thousands of people who need credit repair in Memphis, TN. You are not alone in this. The economic situation hasn’t been the greatest these past few years. Regardless of how careful you’ve been, a single unforeseen event can set you back way more than you could have expected.

That’s the case with most people in Memphis. And now, because of factors you absolutely had no control over, your buying power is suffering. All the negative items on your credit report are taking their toll on your finances. However, there is a way out. You need the best credit repair company you can find in Memphis.

Credit Repair in Memphis, TN Done Right

We are White, Jacobs and Associates, and we offer the type of credit repair services you deserve. 

It’s possible that we aren’t the first credit repair agency you’ve come across in Memphis. But we are the only one that does credit repair the right way! How can we know that? Because we’ve seen how other credit repair agencies operate, and how they make their money. They leech off of hard-working people who need legitimate credit repair. In that regard, they’re no better than your creditors who want to squeeze every last cent out of you.

At WJA, we value your time. If we can assist you, we’ll go above and beyond to ensure you receive the support you need. If we’re unable to help, we’ll promptly inform you, ensuring transparency and respect for your time.

How Does a Bad Credit Score Affect Buying Power?

A bad credit score will effectively increase the interest you have to pay on your loans. Financial institutions will see your credit score and decide that you’re a high-risk borrower. So they’ll slap a huge interest rate on your loan to “make up for the risk of lending you money.” Of course, that’s just another case of plain extortion, and you should not agree to such a deal.

Naturally, they count on people needing those loans very badly and know most everyone will accept their unreasonable interest rates. You’ll be overpaying whatever it is you’re buying, leaving less money for you to spend on other things. When you have an excellent credit score, you’ll actually get to keep your hard-earned cash instead of watching it dissolve in high-interest rates. The less money you spend on a loan, the more buying power you’ll have.

What Causes a Drop in Credit Scores?

There are several reasons why credit scores decline. Missed or late payments have the most detrimental impact on your credit score. High credit utilization can also pose significant problems, so it’s advisable to avoid maxing out your credit card. Approaching the credit limit on a credit card can send unfavorable signals to financial institutions reviewing your reports. Keeping a safe distance from the limit can indeed boost your credit score.

Having a diverse credit history with various credit lines is beneficial for your credit profile. Insufficient credit history may lead to skepticism from lenders, negatively affecting your credit score and overall creditworthiness.

Regrettably, incidents like stolen credit cards and identity theft can result in lasting adverse effects on your credit score.

Identity Theft: A Culprit Behind Declining Credit Scores

Identity theft can wreak havoc on your credit score, often through fraudulent applications for new credit lines. Typically, the perpetrator will exploit your identity to secure new credit cards and exhaust their limits without any intention of repayment. Consequently, your credit score suffers recurring blows each month as missed payments accumulate. It’s a harmful cycle that requires attentive oversight and immediate action to alleviate its negative repercussions on your financial stability.

If you suspect you’ve fallen prey to identity theft, take swift action by filing a police report to document the incident. Additionally, reach out to the relevant companies where fraudulent activity may have occurred to notify them of the situation. Consider placing a one-year fraud alert on your credit reports to provide an extra layer of protection against further unauthorized activity. These steps are crucial in minimizing the impact of identity theft on your financial security.

Restoring Your Credit Score Is Achievable!

Regardless of the factors contributing to your financial challenges and declining credit score, it’s important to recognize that there are solutions available.

With the assistance of reputable and effective credit repair services, such as those offered by our team, you can take proactive steps to address your situation. Reach out to us for personalized guidance and assistance—we’re here to help you navigate the path towards financial recovery.

How Does the Credit Repair Program Work?

The credit repair program is designed to address various negative elements present on your credit reports. It’s important to note that not all negative items are disputable, especially if they are accurate and valid. However, inaccuracies and negative entries stemming from unforeseen life events or instances of fraud are within the realm of dispute.

Identity theft isn’t the sole culprit behind credit score declines; unexpected life occurrences can also contribute to financial setbacks. Nonetheless, there are programs available to rectify such situations.

While disputing items is a key aspect of credit repair, it’s not the sole strategy for success. Many credit repair agencies rely solely on automated dispute letters to creditors, a tactic that often yields minimal results.

Do I Really Need Credit Repair?

Credit repair can be a vital step in ensuring your financial health, particularly if you’re planning to take out a loan. The most widely used scoring model by lenders to assess your creditworthiness is the FICO score. This score ranges from 300 to 850, with higher scores indicating better credit.

FICO categorizes scores from 670 to 739 as “good,” but aiming for a score of at least 700 is advisable. Falling below this threshold might suggest the need for credit repair.

Improving your credit score is crucial if you’re considering borrowing money in the near future. A higher credit score not only enhances your chances of loan approval but also secures you lower interest rates, saving you money over the life of the loan. Regularly monitoring your credit report and addressing any inaccuracies or issues can help you maintain or achieve a desirable score, ultimately benefiting your overall financial well-being.

Is It Legal to Repair Credit in Memphis?

Credit repair is legal in Memphis. Here’s a list of laws that protect you against unfair reporting practices:

• Fair Credit Reporting Act (FCRA)
• Fair Debt Collection Practices Act (FDCPA)
• Fair Credit Billing Act (FCBA)
• Fair and Accurate Credit Transactions Act (FACTA)
• HIPPA laws. 

You have the right to dispute any inaccuracies found on your credit report, particularly negative items that may unfairly impact your credit standing. Taking action to correct these errors can help safeguard your financial reputation and ensure that your credit report accurately reflects your financial history.

Our Credit Repair Process

Our credit repair process is fundamentally different from how everyone else is doing it.

We don’t simply send dispute letters; we thoroughly examine and audit your creditors. Additionally, our team of experts, including credit analysts and investigative researchers, is adept at building compelling arguments against your creditors if they fail to cooperate.

This assertive approach defines our services. We don’t tolerate lenders who disregard your rights to fair credit reporting.

This approach forms an integral part of our 4-round unique credit repair process, which is backed by a comprehensive strategy, setting us apart from other credit repair businesses.

Audits vs Disputes – What’s the Difference?

When we audit your creditors, it means we’re asking for proof that they had the right to report a certain negative item. More often than not, they can’t meet our demands, so they have to remove the negative item.

Credit Restoration Scams – The Warning Signs

There are many credit restoration scams going around. You need to be vigilant.

If a credit repair “business” is asking for you to pay anything up front, ignore them. They’re most likely trying to scam you.

Also, if a company claims they can fix your credit score by targeting accurately reported items besides the incorrect ones, you should give them wide berth. There’s no law that allows you to dispute accurate credit report items.