Frequently Asked Questions
I'm ready to sign up right now. How do I do it?
It all starts with a credit assessment, which you can get by visiting our Sign Up page or calling us toll-free at 401-203-1286. We're different from our competition in that every one of our clients receives individual attention from Pagán Professional & Financial Services, LLC. We formulate a customized plan of action based on your specific needs. No two clients are alike!
How much does bad credit cost?
The cost of credit repair is small compared to the cost of living with bad credit. Below are a few examples of the cost of bad credit. If you are making vehicle payments, you are most likely paying between $4,000 and $10,000 more over the course of the loan just for having credit score issues. This added interest shows up every month in a higher payment.
Example 1: $23,000 Vehicle Financed for 5 Years
Good Credit- with a 3% interest rate, you would only pay $1796 in interest over 5 years
Slightly Damaged Credit- with a 9% interest rate, you would pay as much as $5646 in interest over 5 years.
Damaged Credit- with an 18% interest rate, you would pay $12,042 in interest over 5 years.
Example 2: Home Loan of $120,000 over 30 years
High Credit Score- with a 4% interest rate, you would only pay $86,243 in interest over 30 years.
With Slightly Damaged Credit- with a 7% interest rate, you would pay $167,410 in interest over 30 years.
With Damaged Credit- you may not get financed, but if you do, it is likely with 20% down payment and a high interest rate.
Example 3: Credit Cards
It is not unusual to not be able to get an unsecured credit card with damaged credit. The accounts you may be approved for will typically have higher rates, low credit limits, and have higher than normal penalties and fees for things like late payments.
How long does it take?
Everyone wants you to see results immediately. Although everyone's credit history is different, most people will see progress within the first 20-45 days of their membership. The majority of time is spent waiting for the credit bureaus to respond to requests. We take great effort in getting our disputes to the bureaus as fast as possible.
What if removed items reappear?
This happens occasionally either by accident or a creditor has eventually verified a particular item. This is what is known as a 'soft delete'. The FCRA (Fair Credit Reporting Act) has made it much more difficult for a creditor to replace an item once it has been removed. Pagán Professional & Financial Services, LLC will re-challenge the item with the full force of the prior removal in our favor.
Is this legal?
Yes, you are given the right under the Fair Credit Reporting Act (FCRA), including the right to challenge inaccurate, misleading, and obsolete items appearing on your credit report. Pagán Professional & Financial Services, LLC uses every venue available to you under the law to help you assert these rights.
What is a credit score?
A credit score is a numerical ranking system that lenders use to determine how much of a credit risk you are. A credit score is a numeric indication of how likely you are to repay debts such as loans or lines of credit. Lenders use this number to determine how much of a credit risk you are. Credit scores also are designed to indicate your creditworthiness in comparison with other consumers. Credit scores are based on the data in your credit report and are generated by computers using artificial intelligence. Usually a credit score is between the numbers 300 to 850. The higher your score, the more "creditworthy" you are to lenders.
What is my credit score based on?
Credit scoring is based on many factors that may include: Amount of available credit Payment history Recent requests for credit Amount of credit currently being used Length of credit history Under the Equal Credit Opportunity Act, credit scoring may not use gender, martial status, national origin, race, or religion as factors.
How can bad credit be deleted?
Negative credit listings are deleted from peoples' credit reports each and every day! Pagán Professional & Financial Services, LLC is hard at work every day challenging damaging and questionable credit entries on behalf of its clients. Utilizing proven and absolutely legal methods, Pagán Professional & Financial Services, LLC is a professional organization working for you and your credit.
Will I get results?
Yes. We know from experience that due to our one on one personal approach, our clients experience tremendous results. The ranges of success are as endless and unique as our clients. We partner with our clients, giving them every advantage they can have in the credit world. Achieving results requires that we work in partnership. Your results will reflect that partnership.