Andrew Schwartz, assistant professor of finance, offered advice to Consumer Affairs on credit repair.
Assistant Professor of Finance Andrew Schwartz was recently quoted by Consumer Affairs about credit repair.
In the Consumer Affairs report on Dec. 20, Schwartz was asked: “If there’s one thing you wish more people knew about when it comes to credit, what would it be:”
“When shopping for a credit repair service, you should look for one that is realistic about what they can do. If it seems like they are making promises that sound too good to be true, they probably are. Similarly, come into the process with realistic expectations,” said Schwartz. “Payment history and credit utilization have by far the biggest impact on your credit score. A credit repair service can’t make payments for you or force you to stop using too much of your credit limit. In the end, the best way to improve your credit score is to do the boring work of practicing good financial habits.”