F.A.Q's
What is Credit?
A credit score is a three digit number that ranges from 300 to 850 and is a rating that measures a person’s likelihood to repay a debt. A higher credit score signals that a borrower is lower risk and more likely to make on-time payments whereas a lower score may be an indication of a higher risk.
Your FICO® Score is a 3-digit credit score decided by the information on your credit report. While FICO® doesn’t collect the data themselves, it’s their algorithm that determines your score. Considering their score is used in 90% of all lending decisions, it’s great to know where you stand.
On time payments, aged account, maintaining a open account, credit mix, new credit
Late or Missed payments, filing for bankruptcies, applying for too many credit accounts, high credit utilization, closed accounts, charge off accounts, collections, ignoring questionable negative items on your report
Anything above 670 is considered good credit
Anything below 670 is considered poor or only fair credit.
Credit Repair
Credit repair is the process of addressing any questionable negative items that could be hurting your credit profile. If the bureaus and creditors can’t verify these items are fair, they are required to remove them.
Yes, Credit Repair is legal, there are certain laws and acts in place such as the CROA & FCRA that gives SLR the right to operate as an entity.
Generally it takes 30-45 days to see progress and each file is case by case and can take up to 90-180* days for file completion.
No three credit histories are the same. That said, depending on the situation, we’ve seen increases as high as 100+ and average a 45 point increase!
No credit repair company can make any guarantees. But we can promise to help you work to address any unfair or inaccurate negative items hurting your credit profile. SLR has trained specialists who know what to look for and have a high success rate.
Yes, but they can also help your credit. Paying your student loans back on time will benefit your score. Alternatively, missing these payments can cause some significant damage to your credit profile. If that sounds like you, or if you’ve missed other payments as a result of your student loans, it may be time to look into credit repair
No, but it might feel like it. Most negative items will fall off of your report after seven years, though it could take as long as 10. If you’d rather not wait that long, credit repair is a great alternative.
Think of credit repair like an investment. A little effort today could save you thousands of dollars (and a headache) tomorrow. We offer a variety of options to help suit anyone’s budget. Give us a call today and we’ll help you find the right option for your unique circumstance.
According to CreditCards.com and CNNMoney, even a single negative item on your credit could cost you over 100 points.
Solar x SLR Credit Repair
When committing to obtain Solar, oftentimes the solar representative will take care of the credit repair service free of charge If you are a valid candidate and commit to a solar installation agreement.
It is required by the lenders that your Experian FICO score will need to be over 650 to be eligible for a solar agreement.
No credit repair company can make any guarantees, with that being said, a trained SLR specialist will use their best judgment to determine a good candidate for solar eligibility.
Nope! Priority of a solar sponsorship is to get the customer qualified for Solar, which the requirement is a 650 Experian Fico Score. With that being said, also part of our service agreement is that we will continue to monitor and repair the customers credit across all three bureaus until file completion.
At SLR Credit Solution, our goal is to help clients reach a qualifying 650 Experian within 60 days.