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It Is Never Too Late to Fix Your Creidt Score

10 April, 2015

It is Never Too Late to Fix Your Creidt Score
Regardless of what you may or may have not heard, credit repair is not only very doable, it is also not all that difficult. The biggest problem, is knowing exactly what to do.

Does it work? YES. I have seen my own score change in as little as two weeks… when I needed to boost them to get another home loan. Does this happen for everyone? Well no…unless you know some tricks.

Nevertheless, do not worry, you don’t need to know all the tricks. By just knowing the basics, you will fix credit or remove most of the bad marks on your reports very quickly. Moreover, this will boost your scores, and you can learn how to fix credit score and even do credit repair.

You do not have to have a perfect credit report in order to be given a good credit score. You can have many accounts still on your credit reports showing negative information if this information is preferably older than two years. There is no need to remove items that show that you were late three years ago, unless of course you would prefer they not be there. You do not need to remove old late accounts in order to fix credit score. I have given people credit scores over 700 with a bankruptcy that was only about four years old.

There are many things that can cause you to have a less than perfect credit rating. Fortunately, there are certain steps that you can take to fix credit score quickly while others take more time.

The first thing that I always recommend that anyone do is to obtain recent copies of their credit reports with their current credit scores before any attempt to fix credit scores. If your current copies of your credit reports from all three credit bureaus are over 30 days old, go ahead and request your free credit reports and free credit scores so that you are working with fresh and current information. Once you have this report showing the information from “all three credit bureaus”, you are going to spend some time reviewing the entire report looking for errors and the accuracy of all information.

The information that is contained regarding any accounts where you pay money are generally the accounts that are going to affect your credit score. If you do find a significant error in perhaps a credit card account or another loan saying that you paid late when you can prove that you never paid late, this is one method that will fix credit score fast. After you have reviewed all this report and all information reported by all three bureaus make a list of any errors that you have found. This is a good time to also correct your personal information if it is inaccurate. This information does not affect your credit score, but it is helpful to have this information current as it will help you when you do apply for loans.

If you did find any errors, following the instructions provided in the report you requested as to how to write a dispute letter to each of the credit bureaus. When you are correcting inaccurate information, it is relatively simple in that nobody is going to generally argue with you as you will normally have proof. You do not need to have proof in order to get an item investigated. I will generally not include my proof when I sent any dispute letter as I never want to show them too much information if I do not have to.

When I know for a fact that an item is inaccurate, I will contact both the party that is reporting the inaccuracy to the credit bureau and I will also contact the credit bureau as well. By contacting both parties you stand a better chance of getting this item removed or corrected faster. Pay special attention to the instructions on how to write a proper dispute letter and were you will send this letter. This is an important step in credit repair and by starting with correcting obvious error, you can easily learn how this process works without encountering any problems.

At this point you may also want to dispute any information that looks like it may not be accurate to the best of your knowledge,as this is a great way of fixing credit ratings. It is tough to remember exactly how we pay our bills, so if you see that an account was reported as you payment late, and to the best of your knowledge, you recall that you pay this bill on time, you can send a letter to the credit bureau stating that you paid this bill on time. You are in essence asking them to dispute the accuracy of this item. When you ask them to verify the accuracy, they will send a request to the company providing them with this information in that company has 30 days to respond to their request.

If the company does not respond within 30 days, the item is removed or changed as per what you requested in your dispute letter. This is in essence how credit repair companies operate. It does get more involved depending on the type of account, but this is the first step in credit repair and how to fix credit score.

Learning how to review your credit report and how to dispute an item that is inaccurate or perhaps incorrect, is the first step in credit repair and that is why I suggest you successfully complete all of the above before you attempt to move on to more advanced levels. The ability to “fix credit score” entails some sacrifices and some work. However, once you make the choice to actually do it, and do it correctly, you can rest assured that it will have been worth the effort.

I will share with you another method that is very effective to raise your credit scores and fix your credit but I do not know if you can technically call this a method to fix credit score, but your scores go up and that is all that matters. If you currently have credit cards, check to see what your current balance is on each of your cards. This information should also show on your credit reports as well. Your credit report will show you your credit limit, the amount that you currently owe and if you have been paying your payments in a timely manner.

We are going to focus on the amount that you currently owe, and this is referred to as your current revolving debt. If the amount that you owe on your credit cards is close to your credit limits, this is causing you to have much lower credit scores then you would have if you were to pay down your balances. In order to get the best possible credit scores, a person needs to keep their revolving debt at below 15% of their available credit on each one of their revolving lines of credit or credit cards.

For example, if you have a $2000 credit limit, you will want to keep that credit card balance below $300 at all times in order to have the highest credit scores possible from a credit card. As your balance goes up, your credit score goes down. If your current balance is close to your credit limit for most of your credit cards, whether you have one card or multiple cards, you can raise your score quickly by paying these all down.

You will see a jump of at least 50 points if you are carrying high balances on your credit cards, and this includes department store cards as well. Anything that has a credit limit where you can owe more or less depending on how much of your bill you pay, is something that is considered revolving debt. The credit bureaus want to see you have a good amount of available revolving debt while maintaining a low percentage of debt as compared to your credit limit. Credit bureaus like to see that you have credit cards, but they would like to see that you pay your bill in full each month in order to get the highest credit scores.

If you currently don’t have or think you can’t get credit cards, then you must get a least two secured credit cards to start fixing your credit score. These work wonders on a bad score. Having too little credit can actually cause you to have low credit scores. Even if you had many open lines of credit, if by chance you went through and closed down all of your credit cards, your credit scores will drop.

You need to have open lines of credit in order to get high credit scores. Anyone can obtain a secured credit card and as long as this card reports your new line of credit to the credit bureaus, this will work as a rebuilding credit card. For a person that does not have many lines of open credit, these are the most effective methods of raising your credit scores or otherwise known as fix credit score or credit repair. These actually work pretty fast in that you will start to see your scores go up is fast as about three months.

If you do decide to get help in repairing your credit, you can save a lot of time and effort by learning from a pro or having a pro do it. I learned the hard way and it took me years to master credit repair. Now there are people that can show you the special tricks that the pros know for very fast results. By starting with the methods I have taught you, you will be in pretty good shape to use the services of a company that is willing to assist you or to teach you how to do your own credit repair. If after reading everything I have suggested, you have decided that none of this sounds interesting to you, you would be better off to hire a full-service credit repair company.

Keep in mind that any credit repair or any attempt to fix credit score fast, means that you can get your scores change in approximately 30 days. That is considered fast in credit repair and if someone says they can do anything for you in less than 30 days, do not believe their claims. If you do need something done quickly, then find a service that advertises their speed in raising your scores. This is because many credit repair companies are not fast, but if you give them enough time, and they can work magic on your credit report.

If you would like to save some money, you can do what I have suggested above before you hire a credit repair company as you will have taken the first steps yourself and thus it will cost you less money. This starts by reviewing your current credit reports and understanding everything that is being reported about you by each of the three major credit bureaus.



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