What Bad Credit Really Cost You – Credit Law Center
In today’s economy a good credit score is a must. Some consumers don’t realize how much of an impact a bad credit is score can have on their financial picture. Did you realize that a low credit score can impact how much you pay for insurance, the amount of interest you will pay for cars, the interest rate on a mortgage or whether you get that promotion at work?
Your credit score is used as a deciding factor in much more decisions than most people think. Let’s look at what you would pay for a mortgage with a bad credit score, average credit score and a good credit score.
| $250,000 home paid over 30 years: | |||
| CREDIT SCORE | RATE | PAYMENT | COST OF BAD CREDIT |
| Good | 3.9% | $1,179.17 | $0.00 |
| Average | 5.0% | $1,342.05 | $58,637 |
| Bad | 6.3% | $1,547.43 | $132,574 |
For people with bad credit, higher interest rates will further increase their cost of living, making any purchases even small purchase seem difficult. A bad credit report will cost you thousands of dollars a year in high interest, or can keep you from being approved altogether.
For the reasons listed above we founded Credit Law Center in 2009 and we have helped thousands of consumers save money. Our company’s mission is to increase consumers buying power. We complete our mission through the credit repair process which includes; education, correction and litigation. We use Federal laws as leverage to achieve incredible results for our clients. Our process is simple; we audit a consumer’s credit report and assist them in disputing the inaccurate, incomplete and unverifiable information contained in their credit reports.
Our process does not take years in most cases it’s just a few months. The Fair Credit reporting act states that they have 30 days to notify you of the status of your dispute and up to 45 days to complete and investigation. To keep it simple and risk fee our company’s motto is “You don’t pay unless it goes away” meaning there are no upfront fees and you only pay for results. Please call us today for a free review 1-800-994-3070
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