Credit Monitoring and The Credit Repair Process
A credit report is a statement of your financial activities; however, it is not a static report. Your credit score is prone to change on a daily basis with a constant stream of information being submitted by lenders and credit agencies. What this means in terms of the credit repair process is that you need to constantly monitor your report.
One assumption that we would like to dispel is that credit repair ends when the status of your credit score changes. Maintaining good credit should be a continuing process; improving your score is only aspect of the process. The other aspect involves a constant monitoring of your FICO score. This includes regular updates on items that are added and understanding how they affect your score.
What Is Credit Monitoring?
It is important to understand the function and benefits of credit monitoring. This is important because it will help you understand the internal workings of a credit repair service, and why it is sometimes in your best interest to invest in credit repair professionals.
If you don’t know much about monitoring, you don’t have to worry. Our financial experts have put together a breakdown of the credit monitoring basics:
This is an unspoken part of monitoring, but it is an important one. Credit repair agencies, while checking your report on a daily basis, check for patterns and trends on your report. For instance, they track and record if a particular loan or insurance policy is a major part of your score, or if a particular credit habit, such as shopping, is negatively affecting your score.
- Checking for Suspicious Activities
This is one of the most important parts of the monitoring process. In fact, this is the very reason why you have a credit repair agency check your FICO score on a regular basis. This enables them to spot any suspicious activity on the report and pull it up immediately. This keeps you one step ahead in the credit repair process. The moment there is a critical change in your report, you will be alerted. Then you can take the necessary steps and act, if needed.
- Identity Theft
Yes, identity theft plays a major role and has a serious impact on your score. Credit monitoring enables you to stay on top of the situation by alerting you of any misuse immediately. This way you can identify any fraudulent activity and take the necessary steps to ensure your score is not severely affected.
Contact us today at Action Credit Repair and put your credit restoration needs into our capable hands, so that you can get your credit score back into good standing, and at the same time scale up your identity theft protection. It is a valuable way to determine if there has been any risk of your identity being stolen by unscrupulous individuals who are using it to attain credit.
ID Shield offered by Action Credit Repair, LLC, offers one of the most comprehensive products on the market for protecting and restoring your identity. In the unfortunate event something does happen to your identity, you’ll have professional help in getting your identity restored to what it was before the fraud occurred. If you would like to know more about how to protect you and your family, please visit: IDShield offered by Action Credit Repair, LLC