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5 Best Credit Repair Companies to Fix Your Credit Score

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5 Best Credit Repair Companies to Fix Your Credit Score

Your credit score is one of the most important things you have to consider in your financial situation. The credit score is looked at as how well you have the ability to pay something back. This will affect the decision of a bank to give you a loan, such as a mortgage. Obviously, you will want your credit score to be good in order to ensure that you can receive important loans which can be very beneficial. However, simple mistakes throughout your life can negatively affect your credit score in a way that makes it very difficult to receive any loans, and this can affect your future for the foreseeable future.

Top credit repair companies to fix your credit score:

#1 Credit Saint

recover your credit report

Credit Saint gives its customers a consultation in which they will analyze your credit history, as well as identifying what items are harming your credit score and how your report can be optimized to bring your credit score back to positive levels. They aim to help you fully understand your credit score and why it is being harmed, as well as providing ways to fix these issues. With Credit Saint, you will not be billed for the initial report until you decide to go ahead with them. The company’s mission is to give you 100% confidence that they will be able to help you. The team will not rest until they are sure that this has been achieved and that they have earned your trust.

A woman from a credit repair company talking to a client and writing notes about fixing credit score.

Credit Saint’s process works in 45 day cycles. Every 45 days, you will receive 3 credit reports with your results. These will outline the negative items that have been removed from your credit score so far. This consistent update schedule will allow you to track your progress and understand the process as it occurs. In the unlikely event that you don’t see results in the first 90 days, you will get your money back. It is this approach to customer satisfaction that makes Credit Saint stand out from the rest as the best credit repair company to use. With Credit Saint, you can be sure that you are getting the best results possible. Read more here www.creditsaint.com

#2 Credit Renew

A credit repair company holding a pen and paper talking to a client about fixing their credit score.

Credit Renew is a company that focuses on repairing credit for their customers. They offer 24/7 online access, a free trial, they are reasonably priced and allow you to cancel at any time. This combination of benefits makes this company the best out there for credit repair. Many different companies on the market will not offer a free trial and will be very overpriced, however, Credit Renew goes against the grain and brings the best to their customers.

#3 The Credit ProsA credit score company using a laptop and talking to a client about credit repair.

The Credit Pros has had over 10 years of success and is trusted by over 10,000 clients! With an A+ rating with the BBB through the use of artificial intelligence in their credit repair operations, you know that you will get results with The Credit Pros. Your credit score could not be in better hands.

#4 The Credit PeopleA man using a laptop to fix credit score at a credit repair company.

The Credit People has 4 awards for their excellence within the credit repair industry. These include top-ranked awards and number one customer rating awards. With so many awards, you know that you will get results here. A free consultation is provided when you contact them to discuss your credit score, helping you to understand the situation.

#5 Pyramid Credit RepairA credit repair company shaking hands with a client whose credit score they have fixed.

Pyramid Credit Repair is best for married couples who wish to fix their credit score. With over 10+ years of consumer credit assistance, you know you are in good hands with Pyramid Credit Repair. They offer 24/7 phone support and a free credit repair evaluation, meaning there is no commitment until you think you are ready to proceed.

These credit repair companies will be able to help you to fix your credit score. Consider each one before making a decision, and be on your way to getting that dream loan!

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Are Sallie Mae Student Loans Federal or Private?

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When you hear the name Sallie Mae, you probably think of student loans. There’s a good reason for that; Sallie Mae has a long history, during which time it has provided both federal and private student loans.

However, as of 2014, all of Sallie Mae’s student loans are private, and its federal loans have been sold to another servicer. Here’s what to know if you have a Sallie Mae loan or are considering taking one out.

What is Sallie Mae?

Sallie Mae is a company that currently offers private student loans. But it has taken a few forms over the years.

In 1972, Congress first created the Student Loan Marketing Association (SLMA) as a private, for-profit corporation. Congress gave SLMA, commonly called “Sallie Mae,” the status of a government-sponsored enterprise (GSE) to support the company in its mission to provide stability and liquidity to the student loan market as a warehouse for student loans.

However, in 2004, the structure and purpose of the company began to change. SLMA dissolved in late December of that year, and the SLM Corporation, or “Sallie Mae,” was formed in its place as a fully private-sector company without GSE status.

In 2014, the company underwent another big adjustment when Sallie Mae split to form Navient and Sallie Mae. Navient is a federal student loan servicer that manages existing student loan accounts. Meanwhile, Sallie Mae continues to offer private student loans and other financial products to consumers. If you took out a student loan with Sallie Mae prior to 2014, there’s a chance that it was a federal student loan under the now-defunct Federal Family Education Loan Program (FFELP).

At present, Sallie Mae owns 1.4 percent of student loans in the United States. In addition to private student loans, the bank also offers credit cards, personal loans and savings accounts to its customers, many of whom are college students.

What is the difference between private and federal student loans?

When you’re seeking financing to pay for college, you’ll have a big choice to make: federal versus private student loans. Both types of loans offer some benefits and drawbacks.

Federal student loans are educational loans that come from the U.S. government. Under the William D. Ford Federal Direct Loan Program, there are four types of federal student loans available to qualified borrowers.

With federal student loans, you typically do not need a co-signer or even a credit check. The loans also come with numerous benefits, such as the ability to adjust your repayment plan based on your income. You may also be able to pause payments with a forbearance or deferment and perhaps even qualify for some level of student loan forgiveness.

On the negative side, most federal student loans feature borrowing limits, so you might need to find supplemental funding or scholarships if your educational costs exceed federal loan maximums.

Private student loans are educational loans you can access from private lenders, such as banks, credit unions and online lenders. On the plus side, private student loans often feature higher loan amounts than you can access through federal funding. And if you or your co-signer has excellent credit, you may be able to secure a competitive interest rate as well.

As for drawbacks, private student loans don’t offer the valuable benefits that federal student borrowers can enjoy. You may also face higher interest rates or have a harder time qualifying for financing if you have bad credit.

Are Sallie Mae loans better than federal student loans?

In general, federal loans are the best first choice for student borrowers. Federal student loans offer numerous benefits that private loans do not. You’ll generally want to complete the Free Application for Federal Student Aid (FAFSA) and review federal funding options before applying for any type of private student loan — Sallie Mae loans included.

However, private student loans, like those offered by Sallie Mae, do have their place. In some cases, federal student aid, grants, scholarships, work-study programs and savings might not be enough to cover educational expenses. In these situations, private student loans may provide you with another way to pay for college.

If you do need to take out private student loans, Sallie Mae is a lender worth considering. It offers loans for a variety of needs, including undergrad, MBA school, medical school, dental school and law school. Its loans also feature 100 percent coverage, so you can find funding for all of your certified school expenses.

With that said, it’s always best to compare a few lenders before committing. All lenders evaluate income and credit score differently, so it’s possible that another lender could give you lower interest rates or more favorable terms.

The bottom line

Sallie Mae may be a good choice if you’re in the market for private student loans and other financial products. Just be sure to do your research upfront, as you should before you take out any form of financing. Comparing multiple offers always gives you the best chance of saving money.

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Tips to do some fall cleaning on your finances

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Wealth manager, Harry Abrahamsen, has five simple ways to stay on top of the big financial picture.

PORTLAND, Maine — Keeping track of our financial stability is something we can all do, whether we have IRAs or 401ks or just a checking account. Harry J. Abrahamsen is the Founder of Abrahamsen Financial Group. He works with clients to create and grow their own wealth. Abrahamsen shares five financial tips, starting with knowing what you have. 

1. Analyze Your Finances Quarterly or Biannually

You want to make sure that your long-term strategy is congruent with your short-term strategy. If the short-term is not working out, you may need to adjust what you are doing to make sure your outcome produces the desired results you are looking to accomplish. It is just like setting sail on a voyage across the Atlantic Ocean. You know where you want to go and plot your course, but there are many factors that need to be considered to actually get you across and across safely. Your finances behave the exact same way. Check your current situation and make sure you are taking into consideration all of the various wealth-eroding factors that can take you completely off course.

With interest rates very low, now might be a good time to consider refinancing student loans or mortgages, or consolidating credit card debt. However, do so only if you need to or if you can create a positive cash flow. To ensure that you are saving the most by doing so, you must look at current payments, excluding taxes and insurance costs. This way you can do an apples-to-apples comparison.

The most important things to look for when reviewing your credit report is accuracy. Make sure the reporting agencies are reporting things actuary. If it doesn’t appear to be reporting correct and accurate information, you should consult with a reputable credit repair company to help you fix the incorrect information.

4. Savings and Retirement Accounts

The most important thing to consider when reviewing your savings and retirement accounts is to make sure the strategies match your short-term and long-term investment objectives. All too often people end up making decisions one at a time, at different times in their lives, with different people, under different circumstances. Having a sound strategy in place will allow you to view your finances with a macro-economic lens vs a micro-economic view. Stay the course and adjust accordingly from a risk and tax standpoint.

RELATED: Financial lessons learned through the pandemic

A great tip for lowering utility bills or car insurance premiums: Simply ask! There may be things you are not aware of that could save you hundreds of dollars every month. You just need to call all of the companies that you do business with to find out about cost-cutting strategies. 

RELATED: Overcome your fear of finances

To learn more about Abrahamsen Financial, click here

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How to Get a Loan Even with Bad Credit

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Sana pwedeng mabura ang bad credit history as quickly and easily as paying off your utility bills, ‘no? Unfortunately, it takes time. And bago mo pa maayos ang bad credit mo, more often than not, kailangan mo na namang mag-avail ng panibagong loan. 

Good thing you can still get a loan even with bad credit, kahit na medyo limited ang options. How do you get a loan if you have bad credit? Alamin sa short guide na ito. 

For more finance tips, visit Moneymax.

 

 

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