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Joy Said:Is it possible to get my credit report repaired?
We Answered:You can dispute any incorrect information on your credit report. The Fair Credit Reporting Act (FCRA) actually encourages people to dispute inaccurate information.
Send the letter and copies (copies only) of any documents supporting your claim to the credit-reporting agency. Some agencies allow you to do this online through their websites; however, if you need to send them hard data it's better to use regular postal mail.
Within thirty days the information that could not be verified will be removed from your report. When the credit granter does positively verify the information to be correct, you then contact the source of that information and resolve the dispute with the creditor, directly.
It's important to note, that if there is an inaccuracy on Experian that there is likely a similar one on Trans Union and Equifax. Each company must be notified, separately for each item.
Nina Said:Has anyone ever repaired their credit from bad/so-so to good? How did you do it? How long did it take?
We Answered:1. Order all three of your credit reports. Make sure that everything is correct. If you find things that have been paid off file a dispute on line with that credit agency and have it removed. You should also pay down all high interest credit cards or loans.
This can bring your score up right away. Also try Suzan Ornman's myfico.com to order your reports and get your fico score, which is just as important as your credit score.
2 Stay away from credit repair scams. You can raise it on your own. Also creditors tend to look poorly on consolidated debt. So you call your creditors and do the hard work. This way you don't have to pay anyone and you can stay on top of what is going on.
3 Keep older credit, and spread balances around.
It's better to have a long history with a couple of credit cards and low balances than to have one new card maxed out-even if it's paid in full -every month. Instead of closing an old account, call up the company, ask for a low rate, and use the card once in a while. Well-managed old credit is always better than new.
5 Get a credit monitoring system. Consumerinfo.com works good, but it costs you 10 dollars a month. They alert you whenever anything changes on you credit report. (good/ bad)
6. Also, never accept a payoff from a collection agency. Keep paying until the total balance is paid off!!! Creditors look unfavorably on settlements that are less than the amount owed. Plus it dosen't show as satisfied on your report only settled.
7. Pay everything on time and your score will begin to rise. When it does, and it will, I promise. Do not go applying for a bunch on new credit. Too many inquiries on your credit report can also have a negative affect on your score. So be very careful.
You can raise your score 100 or more points in a year. It is possible.
Good Luck!! I am trying to do the same thing myself. :)
Once you have paid the amount due in full, make sure the collection company sends you a letter stated that the debt has been paid in full. YOU MUST NOT FORGET TO DO THIS!!!!! If you do, some other collection company could call you years later claiming they want you to pay the same debt you already paid and you will have no proof to fight it.
Clayton Said:How quickly can credit be repaired?
We Answered:I think the below website helps you to raise ur credit score
Thelma Said:How do the credit repairs work? Are there any downfalls to it?
Real Estate Services
Irma Said:does anyone know of a good credit repair comapny or a credit repair person?
We Answered:find a non-profit credit counseling agency. there is one in NH and VT called NH/VT credit counseling services. they work with you and your creditors to lower payment and interest rates. It will affect your credit however it looks better to creditors that your working to fix it and not paying late and ignoring your debt. Try looking on-line or in the phone book for someplace close to you. Public records will stay on your report for up to 7 years if you have paid it make sure the court reports it to the credit bureau so anyone looking at your credit will know its been paid. Don't apply to multiple company's for credit every time someone pulls your credit report it lowers your score.
Brent Said:Can my credit be repaired if I have mortgage and credit card payments that are behind.?
We Answered:Yes you can repair your credit, but you do need to deal with keeping your payments on time. The credit repair may be able to come up with a plan for you.
Thanks for sharing those wonderful points