If you are trying to repair credit scores, you are not alone. The current economic crisis has shattered the credit world and has doubled the number of people sitting at the “poor” end of the credit scale. More than 35 million Americans today suffer from bad credit and the various issues associated with it. So what’s the solution? Financial discipline and careful budget planning will surely raise your credit score in the long run…But do you really want to wait that long before you see positive changes in your credit? Legal credit repair services could raise you score against certain fees. But do you want to pay an arm and a leg for things that you can actually do yourself?
Luckily, there are faster and easier ways to repair your credit. Here are the 3 major steps that will help you raise credit fast:
1 Don’t be a sitting duck. Educate yourself.
A lot of uniformed people turn into victims of the credit system. They pay exorbitant interest rates when they don’t have to, pay collection debt in full when they can settle for 20 % or less of the amount owed, allow to be harassed by constant debt collector calls when they can stop the phone calls with a simple “cease and desist” letter. Creditors, collection agencies and various debt collectors have one thing in common-they prey on the huge crowd of misinformed people. Now let me tell you-you have numerous rights as a consumer. These rights are specified in the Fair Credit Reporting Act and the Fair Debt Collection Practices Act. For example, you have the right to dispute any inaccurate, outdated, questionable or ambiguous information in your credit report. Credit bureaus are given 30 days to conduct investigation and come up with a decision on your case. You can also request validation of debt from credit bureaus, collection agencies and original creditors. If they don’t have the proper paperwork to validate the debt, they are required by law to remove the negative item from your report. You can sue collection agencies if they don’t validate the debt, but continue to pursue collection activities (FDCPA, sec 809). The list with your legal rights is long. The more you know about it, the better your chances to raise your credit fast.
2 Don’t wing it. Have a plan.
That’s another important step towards a better credit. In order to raise your score fast you must have a clear plan of action. Different credit reports call for a different course of action. Take a careful look at your report and highlight the most problematic accounts-bankruptcies, foreclosures, legal judgments, repossessions, collection accounts, tax liens, late and past due payments etc. Each type of negative account calls for different credit strategy. You have to come up with a clear course of action that is tailored towards your specific credit situation.
3 There is no room for quitters in the world of credit repair.
In other words-don’t get discouraged by setbacks and occasional failures. The path to better credit is never smooth and obstacle-free. Not all collection agencies will be willing to settle for the minimum amount possible. Not all debt collectors will have poor documentation and will fail to validate your debt. Not all creditors will be willing to delete your one time late payment from your credit history in exchange for your loyalty as a customer. The universe is not scheming against you. It’s just how things work in the credit repair world. The key is to keep on going until you reach the desired destination (the “perfect” side of the credit scale).
There are different ways to repair credit scores. Some require patience and extreme financial effort. Others require only credit knowledge and perseverance. It’s up to you to choose the strategy that works for your case.
Author: Irena Bocheva
http://fix-credit-score.info/
Do you really think that fixing credit takes a long time? Think again… Click on the link above and learn about the fastest ways to raise your credit score.
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