AA Financial Solutions

 Credit is not a simple subject, and like most things it's often misunderstood. As a result, many people hear information about credit that simply isn't true. Our credit specialists are trained to help you seperate the myths and understand the truth about your credit. Feel free to Give Us A Call, and we will explain the truth!

The following list is a sample of the popular credit myths we can help you understand.

• Paying off your collections will help your credit score.
• Once you pay a collection, charge-off, judgment, or tax lien it no longer impacts your credit score.
• Using your credit cards a lot will increase your payment history and raise your score.
• Multiple credit inquiries pulled at one time in the same industry will not negatively impact your credit score.
• Consumers have just three credit scores.
• It is better if an account goes late occasionally than if it goes bad altogether.
• Paying off your auto loan, student loan, or mortgage loan will help improve your situation.

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• You should pay off one revolving account at a time.
• Paying a large up-front credit repair fee will get you better service.
• After 7 years, a negative item on your report will disappear and will no longer lower your score.

• Having a third party, such as a consumer credit counseling firm, manage your finances will help improve your credit score more quickly.
• For corrections, the burden of proof lies with the consumer.
• My divorce decree states that my spouse is responsible for that debt, so any future negative items will not impact my credit score.
• Your collection was sold, so the original one will be erased.
• You need to contact your creditors rather than the bureaus every time you think there is a mistake on your credit report.
• The credit bureaus, creditors and lenders are your friends!
• You have only one credit score.
• A higher salary will improve your credit score.

Want to know what else can hurt your credit? Not getting control of the situation. It's not going to cost you anything to Contact Us

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