Bad Credit Score - A Higher Chance of Rejection for Loans

Nov 12, 2022

So you’ve recently applied for another loan and got rejected. The reason cited was your bad credit score. If this has happened to you, then you are not alone. According to studies, around 16% of Americans have bad credit, which equates to around 48 million people.


What exactly is a bad credit score?


A FICO score below 670 is generally considered to be bad credit. You may have bad credit for a variety of reasons, including missing credit card payments or having too much debt concerning your income.


Whatever the reason, a tarnished credit score has more implications than you might think. A bad credit score will not only make it difficult to find loans with reasonable interest rates but can also lead to housing and service problems.  Your employment prospects may also suffer as a result of poor credit.


So, how do you improve your credit score?


If you're unfortunately one of the millions of Americans with bad credit and you're looking for a legal credit repair in Dallas, TX, then you’re taking the right step. A legal credit restoration company can help you boost your credit score and improve your financial life.


Traditional credit repair merely addresses surface-level negative credit accounts, but legal credit restoration will get to the root of the problem by attacking every derogatory and erroneous line of credit. The best legal credit restoration firm will find and address every instance of negative credit on your record through a series of audits so that you can experience a dramatic improvement in your score.


These firms utilize federal laws such as the Fair Credit Reporting Act (FCRA), Fair Debt Collections Practices Act (FDCPA), and Health Insurance Portability and Accountability Act (HIPAA) to help you achieve your credit dreams.


If you're interested in finding a reputable legal credit repair in Dallas, TX, make sure they are licensed, bonded, and registered with the Secretary of the State of Texas. This way, you can be sure they will adhere to the highest standards of ethical conduct and professionalism.


Don't let a bad credit score and a few mishaps hold you back. Start your journey to financial freedom today with a legal credit repair in Dallas, TX.