Posted by admin | Under Credit Score Repair
Friday Aug 7, 2009
Credit Score Repair: Read these tips on credit score repair and fix your bad credit.
Good credit is important to functioning in society today. When you have bad credit, life can be difficult. Unfortunately it is easy to make mistakes in handling your credit which leaves you with a low credit score. When you have a good credit score you have many more advantages when it comes to leveraging your wealth. Raising your credit score can be done.
First you want to obtain your credit reports from all three credit bureaus. You can do this by going to the Equifax website where you can order a 3 in 1 report that will show your records from all three credit bureaus. You can also find out what your FICO score is. You can even choose to monitor your FICO score if you want so you can tell how well your credit repair is working. Be sure to pull your records from all three bureaus. These are where your creditors report to but they may not report to all three so your reports may be different. You want to find out how many black marks you have with each bureau and investigate your reports for errors.
When you get your reports, go through each one thoroughly. This is vital to start your credit score repair. A lot of the information will be identical but some will be different. You will also find that each bureau figures your credit in a different way and can give you a different score. Not all of your creditors will report to all three of the bureaus and you can never be sure which bureau report a potential creditor will pull so you want to repair them all. Make a note of every derogatory mark on your reports.
After this begin work on removing negative marks on your credit reports. Do this by sending hand written dispute letters to the credit bureaus. They make forms available for this purpose but you may get a better response if you hand write your dispute so the employee who opens it can tell it is a real dispute from you and not an automated letter from a credit repair company. Your dispute will be read by a real person at the credit bureau so you are probably better off to handle your correspondence in a personal way.
Attack the errors on your credit reports. When you get false information removed you might see a sudden jump in your credit score. If the derogatory remarks are valid then the credit bureau will not remove it if it is verified by the reporting creditor. In that case, you can contact the creditor directly and ask them if they will remove the negative mark. If you are a current customer in good standing, they may do so.
Decide to either make payments or let bad credit expire. It may be best to leave old bad credit marks alone. Most of them will expire and be removed from your credit report seven years from the date of last activity. If you dispute an old bad credit mark, it might re-age it so that the seven year clock starts all over again. This will make your credit score go down because it shows as a new bad credit mark rather than an old one.
Juggle your credit cards around and you might see a quick rise in your credit score. It is best to keep your available balance between 30% to 50%. If you have one card that has nearly zero balance and one that is close to being maxed out, move some of your balance over so that both of your cards are in the 30% to 50% range.
Please be careful with new credit lines and old accounts. Having an open old account on your credit report will be a benefit to you even if it is not currently active since the credit bureaus factor in how long you have had your credit established. New accounts on the other hand will probably lower your score for awhile after you open them. Your credit score fluctuates frequently depending on your actions, that is why it is so beneficial to monitor your credit. You can do that at the Equifax website by signing up for their Equifax Credit Watch Gold, plus it provides you with identity theft protection in the amount of $20,000.
Since you are reading this article, you know how important good credit is. These few steps can help you improve your credit and help you maintain good credit. You may think you need professional help from a credit repair agency, but it really isn’t necessary since you can do it all yourself. It is at least worth a try before you spend money on credit repair.
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Posted by admin | Under Credit Score Repair
Saturday Aug 28, 2010
I want to buy my home but my credit score is 446 so I have been referred to a credit repair agency for help. But because I have so many outstanding debts, some very old & some new, the estimated price for their service is $1200. Yes, I have tried this process on my own but it takes too long, Should I just go ahead & pay for their service so I can buy my home?
Instead of paying the credit repair company, go to the bank and get twelve $100 bills. Then flush those bills down the toilet. You will at least get to watch the bills swirl down the drain, which is a lot more than the credit repair company will do.
With a 446 score, there is absolutely no way you will be able to fix your credit in less than 3 or 4 years. Not only will you have to negotiate settlement of all the outstanding debts, but you will have to establish current good payment history.
Put your hopes of buying a home on the back burner. You need to first learn some better financial management skills.
Posted by admin | Under Credit Score Repair
Wednesday May 12, 2010
credit score
No. Credit Repair agencies promise to remove derogatory information from your credit report and thus improve your credit score.
The only information that can be removed from a credit report is information that is incorrect/mistakes. If the derogatory information on your credit report is correct, no one can fix that but you. You can work on making the necessary changes needed..ie paying your accounts on time all the time.
Bottom line, if someone wants you to pay to help repair your credit they are just trying to rip you off.
Posted by admin | Under Credit Score Repair
Monday May 10, 2010
Yes I did and they really are good.
Posted by admin | Under Credit Score Repair
Wednesday May 5, 2010
All those things that those companies do you can do yourself for free! Credit = Common sense, they usually go hand in hand, poor credit usually = poor common sense.
Posted by admin | Under Credit Score Repair
Saturday Apr 17, 2010
will it ever be fully repaired and if so (because the rest of my bills are always paid on time), how long would it take?
Usually, a couple of years after negative items are paid off, your score will start to rebound. However, your credit report will reflect the negative entry (even a paid off collections item is a negative) for 7.5 years after last activity and will be seen by any future creditors who pull your credit report during that period. A good payment history for a couple of years after a negative will make some lenders look at you more favorably (for example, if you are trying to get an FHA home loan, your most recent two year payment history is more important than your credit score, but you will still need a minimum FICO of about 620 and a minimum 3.5% down payment to get any lender to underwrite the mortgage) , but not all will do so.
If you do pay off the collections account, see if you can get (in writing) an agreement to "pay for delete". That way, the collections item will be removed. However, the original charge off item will remain for 7.5 years from the time it was first reported.
Posted by admin | Under Credit Score Repair
Wednesday Apr 7, 2010
Yes, you can repair your own credit with these basic steps:
First, make sure all the information on your credit report is accurate.
Second, try to pay off all or any accounts that are currently in collections or make payment arrangements with the creditor to pay off the balance monthly.
Third, any credit card that is over 50% of the available credit line should be paid down to under half of your total credit line. Your credit score is lowered when your available balance is over 50% of your total credit line.
Finally, if you have bad or no credit and have no credit cards try to obtain two credit cards and make sure all of your monthly payments are made on time. This will help increase your credit score. If you cannot be approved for a unsecured credit card, obtain a secured credit card.
Posted by admin | Under Credit Score Repair
Monday Apr 5, 2010
I don’t owe money. But I have a kind of low score. I had a lot of collections and paid them. They appear as paid and one little credit card sttlement.paid also. Can they completley take it off? I want to buy a house in 5 months. My score is 617
You are one step ahead of others in buying a house because your debt is paid.
Here is what I suggest you do:
1-dispute every one of those negative items. Every single one. Many times when an account is paid the lender won’t even take the time to verify it. Especially if it is older. It is worth it to try-even if only 1 comes off, it will help your score. If not, you are in the same position. It will not hurt you to try and it is perfectly legal for a consumer to dispute items on their report. Just dispute and say age of account is wrong, amount paid is wrong, incorrect info reported.
2-Do not listen to the person who said get as much credit as you can, charge up and pay off. WRONG. You should have no more than 2-3 cards. Your score should be good enough for a gas card, a paypal credit card, Walmart/Sams card. You can also go to whogavemecredit.com and put in your state and see what others are getting approved for. Whatever amount you are approved for, always keep the balance under 30%. It is not good information to tell someone to charge it up because lenders don’t always report on the due date.. sometimes it is in the middle of the billing cycle. Never have more than 30% on your score. You need to start this now. Usually when you open an account, your score will slightly drop but will bounce up at 6 months so you may have to put your house buying back a month OR if you are successful in disputing and some of the negatives falling off, that will really help. Also because you are buying the house soon, don’t open 3 cards now. 2 at most. In the future open a third, finance a car and your house will be the best for the best possible credit score.
Also, your score of 617 will get you a house now. Check into FHA. As long as you do not have outstanding debt and have good enough income etc, you can be approved now. You will be better off though to wait until your score goes up some so your interest will be lower.
Posted by admin | Under Credit Score Repair
Saturday Apr 3, 2010
I have a bad credit score because I have not paid my credit cards for 3 months – i have late fees and almost all my credit cards are maxed out.
I am in $8,000 debt to credit card companies.
NOW – I have money to pay off all my credit card debts – i.e I can pay off all the amount owed ($8,000) in one straight go.
My question is — if I do that would my credit score improve in a month — because I would not have any debts to anyone ..
Would welcome any other suggestion
Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – buildcredit.ifastnet.com
Posted by admin | Under Credit Score Repair
Thursday Apr 1, 2010
If so how to check which could efficient to resolve the issue fast?
The most efficient way to get help in your credit reporting is to visit following website I hope it will be helpful for you.
http://CreditReportFrees.info
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