It was probably one of our parents who first told us “Good things come to those who wait.” Chances are, we were wanting something that they either didn’t have or didn’t want to give us at the moment and so they used this phrase in order to buy some time. Heck, you may have even used it on your own kids once in a while.
Yes, while it is true that there are times when “good things” will come if we are patient, there are other times that we actually need to take action if we want those “good things” to come.
Poor credit is one of those situations where “good things” are a LONG way off if you don’t make a conscious effort.
Here are a few examples…
1. If you are late making a mortgage payment, it will stick around on your credit report for years and could prevent you from getting approved for a future loan if you are needing to move or refinance. “Waiting” for it to go away is fine… if you have 7 years to wait!
2. Low to average credit scores (anything below 720) will cost you every time you want to finance a purchase. You’ll pay higher rates and fees for years. Again, “waiting” does nothing for you other than making you pay thousands of dollars more than you really need to for major purchases like a car.
3. If you’ve really had some credit missteps, such as late payments on multiple accounts or if you currently have 90-120 day rolling late payments, it could seriously take a decade for your credit to recover if you do nothing but “wait”.
In these instances, waiting will cost you money, it could cost you a job opportunity, it could cost you a chance to buy the car you really want, it could cost you the chance to buy or rent the home you love… or all of the above.
Conversely, you can take action that could get your credit “back on its feet” in a matter of just a few months! Our program typically gets negative credit items removed within 4-6 months and it costs only a few hundred dollars. So if you’re not a fan of waiting and if you’re not a fan of losing money, then credit repair is definitely the best option.
If you’re not sure or if you have questions, we’d be happy to answer them! Give our office a call and set up a consultation. 30 minutes over the phone could save you years of “not so good things.”