Texas Credit

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Frequently Asked Questions

Why Texas Credit?

When the Lone Star State called for top-tier credit services, we rose to the challenge. Dive deep into why we stand out and why Texans hail us as their #1 credit services champion. At Texas Credit, our aim isn't just to serve, but to enlighten every Texan about credit. Remember, in the credit world, what you don't know CAN bite. If you've got questions not covered here, drop us a line on our About page. We'll answer directly and might even feature it in our upcoming educational posts.

Credit is essentially trust placed in you to receive money, goods, or services before you pay for it in the future — usually with added interest in exchange for the upfront ability. Nowadays, we use credit to buy lots of things, from houses and cars to groceries and clothing.

If you use it responsibly, credit can be a powerful tool. But if you don’t, you’ll have to face some negative consequences that will make your life harder.

The term “bureaus” is the standard way of talking about credit reporting agencies. Think of them as the librarians of your financial history, curating and maintaining records that speak to your creditworthiness.

You bet! When carried out responsibly and in accordance with the law, credit repair is both legal and often championed by Congress and government officials. 

Your credit score is shaped by five main factors: payment history (your payment consistency), credit utilization (how much of your credit you’re using), length of credit history (how long you’ve had credit), types of credit (your variety of credit such as loans, credit cards, or collections), and recent credit inquiries (requests for new credit).

Credit scoring models (algorithms) take into account the aforementioned factors and calculate a score as a result.

No score will ever be the same as each credit bureau will always have slightly different data, even if it’s as simple as reported balances on the same account. Some creditors may not report to all bureaus. Additionally, each bureau or lender will likely use a different scoring model, which there are dozens of!

Think of credit repair as an investment into your personal financial health. Our educational resources can shed light on the hidden costs associated with letting bad credit slide.

Every credit story is unique, so timelines vary. They can range from 30 days to 2 years. We advise caution with companies promising specific timelines or quick fixes. However, our goal is to make the most significant strides within the initial 6 months, which is why we back that timeline by our <a href=”https://www.texascredit.com/guarantee/”>Guarantee</a>.

Indeed! Taking matters into your own hands is an option, and we frequently back it. Sometimes, we even offer guidance at no cost for those who seem well-suited for the endeavor. That said, professional touch often comes with its unique set of advantages.

It can be free! Annualcreditreport.com is your go-to for a free annual credit check. And, with the extended CARES Act, monthly peeks are on the house too. Otherwise, there is always going to be a cost, whether directly or indirectly, associated with requesting your credit report. Through our partnership with Score Depot, we offer daily credit oversight and a hefty ID Theft insurance policy to our valued clients and guests.

While hard inquiries from lenders can impact your score for a short time, your own personal check, a soft inquiry, leaves your score unscathed. Knowledge is power, and we recommend everyone to monitor credit daily. 

The credit repair journey begins with a thorough review of your credit report. We identify inaccuracies and disputed items, and then work diligently to challenge and rectify them. Alongside, we guide you on optimizing factors that influence your score, ensuring you’re in the best credit shape possible.

The real risks in credit repair arise when individuals turn to companies operating outside the law. Unethical practices or illicit tactics can do more harm than good, putting your name and credit at further risk. Always ensure the company you choose takes your privacy seriously and operates legally.

Credit repair focuses primarily on correcting inaccurate or outdated negative items on your credit report, while debt counseling assists individuals in managing and paying off their debts through planning and negotiation. We can also help with the latter in a more productive way, therefore we usually advise people to steer clear of debt counseling. Please see our in-depth post on why we criticize debt counseling. 

We assist with collections, including medical bills and broken leases, guide you through late payment challenges, provide solutions for charged-off accounts like auto repossessions, advise on student loans, and help clear public records, including bankruptcies. Additionally, we empower you to become financially savvy, ensuring you maintain good credit health long-term, by teaching you about financial management strategies, increasing income, and even starting or growing your business and its business credit.

Yes, disputing hard inquiries is on our radar. However, our methodical approach places this task towards final stages since there is no real impact when negative records exist. If you spot companies rushing into inquiry disputes, they might be aiming for “rapid outcomes” or an excuse to charge more.

All we need from you is the necessary documents we’ll request. Once you’ve done that, consider the heavy lifting on our side. We’ll manage the rest.

Joining our VIP ranks? Our VIP Program has in-person sessions specially designed for our VIPs. We prioritize maintaining our high service standards. Due to the volume of clients we serve, we do not offer in-person visits. This ensures that we remain focused and undistracted, providing you with the best possible service.

Yes, we do! Our assurance is backed by our Guarantee in case we fall short. 

At Texas Credit, we hold the protection of your personal information as a top priority. Our team is regularly trained to handle and protect your sensitive information responsibly, and we continually assess and update our measures to stay ahead of potential threats. Additionally, our partnership with Score Depot provides each of our clients with $1 Million in ID Theft insurance. 

Not always. Payments can be beneficial for accounts in good health, promoting on-time payment records and lessening credit utilization. Yet, clearing debts once they’ve reached charge-off or collection status doesn’t often work in your credit’s favor. We will help tailor a plan for you to tackle your debts in order of priority. 

Guided by the Fair Credit Reporting Act, any information that’s incomplete, not accurate, or cannot be verified has the potential to be removed. Remember, credit reporting agencies and data providers are held to rigorous standards.

Based on the Fair Credit Reporting Act’s provisions, any information that is incomplete, not accurate, or cannot be verified has the potential to be removed. Remember, credit reporting agencies and data furnishers are held to rigorous standards.

Removal of an account from your credit report doesn’t necessarily absolve you of payment duties. The Texas statute of limitations caps the time-barred debt at four years. However, this doesn’t stop collectors from trying to retrieve the debt after this timeframe. We can help you make sure debt collectors are adhering to the provisions of the Fair Debt Collection Practices Act. 

If a debt collector reaches out, remain calm, gather all relevant information, avoid admitting to the debt initially, and get in touch with us for further guidance.

Depends on Your Goals: If your primary aim is to avoid bankruptcy and resolve a debt for a lesser amount in order to save money, settling could be beneficial. However, a “settled” status will not be as positive on your credit report as a “paid in full” status. Keep in mind there may also be hefty tax implications.

Rest assured, they don’t. Negative details on your credit report have a tenure of 7 years. However, in the case of bankruptcies, they could hang around for up to 10 years.

It’s uncommon, but possible. If a debt gets sold to another buyer, there’s a chance it could reappear. Our Warranty provides more clarity on this matter.

Absolutely. Identity theft can leave a significant dent in your credit. Thankfully, we have specialized expertise to guide you through such challenges. Our partnership with Score Depot also gives our clients and guests each $1M in Identity Theft insurance.

No, not directly. While a divorce itself doesn’t influence your credit, it’s the ripple effects, particularly from shared credit obligations, that might. We have extensive experience in the divorce lending industry and specialize in navigating these scenarios.

Prioritize timely payments, manage debts wisely, and regularly review your credit report for any discrepancies or inaccuracies. 

We’ve got your back. We’re in the business of lending a hand during credit and financial hurdles. That’s why our process is structured to suit every pocket. Your ability to afford will never be a barrier with us, as we’ve made our payment plans economical and accessible for everyone. If you still cannot afford $25 per week, we have a free financial coaching program we invite you to join. 

Stay in the loop with ease! As our valued client, you’ll have exclusive access to your personalized dashboard within our portal, letting you monitor credit dispute outcomes and score fluctuations. If we are working in unison with a mortgage professional, he or she will also be updated directly.