Many people think paying off an outstanding debt will instantly improve their credit score. This misconception can lead to disappointment if the score doesn’t rise as expected. Visage Credit Repair can help you understand how paid debts affect your score and what to realistically expect, guiding you toward better financial decisions.
When a debt remains unpaid for an extended time, it can result in a negative mark on your credit file, which can significantly damage your credit score. Even after you pay off the debt, the status of the negative mark or payment default will change to ‘paid’ or ‘closed,’ but this does not always lead to a significant or immediate score improvement, nor does it guarantee the removal of the negative mark.
Visage Credit Repair has helped clients in improving their credit scores through various strategies. One effective method is negotiating a settlement agreement with creditors, where the creditor agrees to remove the payment default upon receipt of payment of the debt. This approach can lead to a more significant score improvement.
Visage Credit Repair note that they generally get results within three or four weeks, if not sooner. However, each person’s credit situation is unique. How long it will take for any particular person to see improved results depends on many factors, such as the nature of their case, the number of negative listings on their report, and the level of credit bureau and credit providers’ cooperation.
For more information on Visage Credit Repair and their array of services, visit their website here: https://visagegroup.com.au
