Company Info

Mon - Fri 8:30AM - 5:00PM
by appointment

8838 E. 34 ROAD
Phone: (866) 824-9427
Fax: (231) 846-2348

Back On Track Credit Repair exists to provide superior services to assist our clients with improving their credit scores.  Our customers will always be treated with respect and integrity.

Our goal is to display a sense of comfort in knowing that Back On Track Credit Repair will go above and beyond to assist our clients in improving their credit situation.

Why Improve My Credit?

Now more than ever healthy credit is critical to your success.  Your credit score can impact your life in many ways.

Credit means borrowing money from a lender to pay for something.  Your credit report determines your credit worthiness and your ability to pay a debt as agreed.  A poor credit score can affect your ability to obtain a mortgage, car, and credit cards.  Your credit history can be considered if you are applying for medical, life, or automobile insurance, trying to rent an apartment or home or are applying for a new job.

Information About Your Credit Score

In 1989 Fair Isaac developed a scoring system to determine your credit worthiness.  This system is used by the three major credit bureaus (Equifax, Experian, and TransUnion) to determine your FICO score.  Your score is determined by data that is collected about you.  Each credit bureau may report a different score, as each may have slightly different information about you.  Your credit score is a combination of five components.  Payment history 35%, amounts outstanding 30%, length of your credit history 15%, mix of accounts 10%, and inquires 10%.

Payment history is based on paying your bills as agreed and on time. The account with the highest pay history is considered first.  Your mortgage may be considered first and then the account with the next largest payment due would be considered next.  This could be an auto loan or a credit card that may have a high payment.

Amount outstanding is based on the balance that you owe versus the amount of credit you have available to you.  Mortgage and installment loan balances do not affect your credit score rating with as much of an impact since they carry a different approach.

Length of your credit history is based on how long you have had an account open.  The longer you have had the account open and have made payments as agreed, the better the score.  If you have had accounts open for a long period of time but do not owe a balance, you may want to consider leaving these accounts open.  This will actually help your credit score since you will have available credit, but have a zero balance.  In the old days, you may have been told to close all of your old accounts but because history plays such and important element in your credit score, having an old account may be to your advantage. 

Mix of accounts or types of credit used is based on the mixture of different accounts that you have on your credit report.  For example, you may have a mortgage loan, an auto loan, and 3 – 5 different credit cards.

Inquires is based on your credit inquires and the amount of credit you have acquired recently.  Credit inquires is when someone checks your credit information.  There are hard inquires and soft inquires.  A hard inquiry is when a business views your credit to approve you for an application.  Some examples of a hard inquiry are when you apply for a mortgage, car, or credit card.  A hard inquiry affects your credit score about 5 points.  When shopping around for a mortgage or car, you have a window of 45 days to shop without it affecting your credit score more than one time per inquiry per each area.   A soft inquiry is when someone pulls your credit for purposes other than applying for credit.  Some examples of a soft inquiry are when you pull your own credit report, when applying for a job, or when your credit is pulled for insurance.  A soft inquiry does not affect your credit score.  Your score may decrease if you have recently acquired a line of credit.

Good Credit is more important now than ever before.

Credit is a necessity in life.  Good credit is essential for everyone.  Beginning with the house that you live in, to the car you drive, your credit score impacts almost every facet of your life.  It is so important to achieve and maintain a healthy credit score.

For those persons with poor credit, increased expenses due to higher interest rates may further inflate the cost of living, making even the smallest purchase seem overwhelming.  A poor credit score can cost you hundreds each month in interest payments or can keep you from getting approval for credit altogether.

The services we offer at Back On Track Credit Repair, will assist you with your personal financial management goals.  Our services include a variety of help for any credit issue.