Financial & Credit Consultation

One of the key factors contributing to a bad credit score is the presence of negative items. Even a single 30-day late payment, collection, or charge-off can damage your score. Fortunately, the removal of questionable negative items is an effective way to improve your credit.

Backed by extensive knowledge in Finance & Credit and experience helping hundreds of clients to improve their credit reports and financial life, Advanced Credit Therapy has developed tools and strategies that have proven to be effective at removing unfair, inaccurate, and unsubstantiated negative items. We focus on your financial solutions and resolve your credit profile issues. 

Credit is a necessity. Whether it’s a mortgage, a car loan, or a credit card, good credit creates opportunities. Bad credit doesn’t. With today’s economic challenges, it is more important than ever to achieve and maintain a healthy credit score.

For those with bad credit, increased interest rates may further inflate their cost of living, making even small purchases seem difficult. A bad credit report can cost you thousands of dollars a year in overpaid interest or can keep you from being approved for credit altogether. Use the chart below to see how bad credit scores may impact you.

As you consider retaining Advanced Credit Therapy you would do well to look at the price you are already paying for bad credit. Below are just a few examples of the cost of bad credit.

Credit Cards

Most if not all prime credit cards are entirely out of reach to consumers with bad credit. And the few credit cards that are available to them (known as “sub-prime” cards) typically require high setup fees or recurring monthly fees, offer very low credit lines, often require cash deposits, and in most cases do not even report your positive credit activity to the credit bureaus.

Automobile Financing

If you are making payments on a car, you are probably paying between $1,500 and $5,000 more just for having bad credit. This added interest shows up every month in a higher payment. Take a look.

$20,000 car paid over 5 years:
CREDIT STATUS RATE PAYMENT COST OF BAD CREDIT
Perfect 6.8% $394 $0.00
Mildly Damaged 9.7% $422 $4,740
Damaged 14.7% $473 $6,967

Home Mortgage

Bad credit in auto financing can really hurt, but it is nothing compared to the cost of bad credit when a home is involved. A typical home can cost between $50,000 and $130,000 more in interest if you are buying the home with bad credit.

$250,000 home paid over 30 years:
CREDIT STATUS RATE PAYMENT COST OF BAD CREDIT
Excellent 3.9% $1,179.17 $0.00
Mildly Damaged 5.0% $1,342.05 $58,637
Damaged 6.3% $1,547.43 $132,574

It is easy to see the financial burden created by bad credit, but the real cost is more difficult to measure. Bad credit affects more than your finances, it can also attack your sense of security, and limit your personal freedom.

Working with Advanced Credit Therapy to take action on your credit, is much easier to quantify. Call us, we will start you on the road to credit freedom and a brighter financial life style.