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repair credit report

Fast Credit Repair – 10 Things to Fix Credit Fast!

by Wendy Black Polisi on September 28, 2009

While I will be the first to say that there is no quick fix for bad credit, there are strategies you can use to help repair bad credit fast.

Here are 10 steps for fast credit repair!

1. Pay your credit cards before the statement cut date rather than on or before your due date. This will resort in a lower reported balance.

2. If your credit limits on your credit cards are reporting lower than they actually are, dispute this and get it corrected with the credit bureaus.

3. Pay your credit cards down below 25% of your credit limit for each card. If you pay an account in full, make sure that you do not close it.

4. Get a parent or spouse to add you as an authorized user on an older credit card that has a perfect payment history and a low balance.

5. If you have been a good client but had a recent slip up, call your lender and see if they will do a “goodwill” delete. It is best to accept responsibility, tell them what happen and ask if there is any way they can delete the information from your credit file. There is no guarantee they will do this, but you never get what you don’t ask for and who knows—you might be surprised! A goodwill delete is a great way to fix credit fast.

6. Dispute derogatory accounts with the credit bureaus. Start with older accounts and accounts that are paid but reporting derogatory. It is best to only dispute a few accounts at a time and do your disputes in writing so that you have the documentation.

7. If you have collections that need to be paid off, contact the lender before you pay them. Tell them you will pay them in exchange for them deleting the account (or all derogatory history) from your credit bureau. Make sure you have the agreement in writing before you make your payment. (NOTE: reporting an account is paid is NOT the same as deleting derogatory history)

8. Stay away from American Express and Capital One because they do not report your credit limit and this will lower your credit score.

9. If you have an account that has transferred lenders that you weren’t able to get deleted through regular disputing, request an investigation of the account and require the lender to provide you with documentation of the derogatory information. Many times they will not be able to provide it.

10. Get your Mortgage Company or lender to do a Rapid Rescore! This is where they can get legitimate derogatory information removed within 48 hours. It will cost a bit, but is well worth it if you are looking to make an immediate purchase. This is one of the best strategies for fast credit report repair.

By the way, if you would like to learn more about fast credit repair, get my FREE CD 7 Insider Secrets I Used to Take My Score from a 487 to a 787! We would love to share with you how to repair credit score fast.

Tagged as: Credit Repair, credit score repair, fast credit repair, fix bad credit, fix credit, fix credit fast, fix credit rating, fixing bad credit, how to fix credit, repair credit report

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Credit Repair after Bankruptcy

by Vincent Polisi on September 28, 2009

If you are just coming out of a bankruptcy, credit may be the last thing you want to think about. After all, it has just caused you considerable heartache and you may be gun-shy to jump back into the credit game.

The reality is that there is no better time to begin reestablishing your credit than just after your bankruptcy has been discharged. Reestablishing your credit is going to take some time – it will be a couple of years before you can buy a home, and even then, you will be looking at higher rates.

Here are 6 easy things to do for credit repair after bankruptcy:

1. Get a copy of your credit report! Most likely, there will be accounts that were included in your bankruptcy that are still reporting as open and past due. You need to dispute these accounts will all three credit bureaus. Make sure you provide bankruptcy information (case number, date discharged, attorney name if you had one) so that the accounts will be properly updated on the first round of disputes.
2. Reestablish a bank account. Credit Unions and smaller local banks tend to be far more forgiving than large major banks.
3. Get a CD loan with your bank once you have established a relationship and have some cash saved. Yes, you will be paying interest on your own money, but this is far cheaper than living without credit in the long run.
4. Get a secured credit card. Look for one that doesn’t have ridiculous fees. (If you are getting a $300 credit line, but the fees are going to be $250, this isn’t a good deal)
5. Piggyback! If you have a parent or spouse with good credit, get them to add you as an authorized user on their account. They don’t even have to give you a card! Just make sure the account is in good standing and has a low balance. Another important thing to note is that under FICO 08, the new credit scoring model, only a parent or spouse can do this for you!
6. Get a credit card somewhere that has lower standards than many places – think jewelry stores, department stores or radio shack.

Credit repair after bankruptcy isn’t easy, and it will take time. The important thing is to start quickly and be consistent

By the way, if you would like to learn more about credit repair after bankruptcy, get my FREE CD 7 Insider Secrets I Used to Take My Score from a 487 to a 787!

Tagged as: Credit Repair, Credit Repair after Bankruptcy, credit score repair, fix bad credit, fixing bad credit, how to fix credit, repair credit report

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Consumer Debt Settlement

September 28, 2009

If you are knee deep in debt, you may feel that there is no way out other than to file bankruptcy.
While bankruptcy may be the best option for you, you should consider consumer debt settlement before making this decision.
Debt settlement (or debt negotiation) is where the lender agrees to accept less than you owe on [...]

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Credit Cards – Debt You Can Be Judged By!

September 27, 2009

Did you know that there is a new model that credit card companies are using called behavior scoring and it could lead to a reduction of your credit line?
Due to increasing defaults, the business of data profiling is becoming more and more popular. According to an article from publicradio.org, the data profiling business [...]

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Fixing Bad Credit – Avoid These Mistakes!

September 27, 2009

If you are interested in fixing bad credit, you are probably wondering if you need to hire a credit repair company.
Credit repair companies can certainly help you fix credit fast! If you don’t have the time or patience to fix credit on your own, then they are certainly a good option.
The reality [...]

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Fix Bad Credit – Understanding What Isn’t in Your Credit Report!

September 26, 2009

If you want to fix bad credit, the first step is to get a copy of your credit report. Obviously there are many places you can get your report. For more information on getting your credit report, check out this post:
Credit Restoration
Many people are confused over what they will [...]

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