Raising Credit Score-3 Tricks That Helped Others to Clean Up Credit in Less That a Month

Bad Credit - Raising Credit Score-3 Tricks That Helped Others to Clean Up Credit in Less That a Month

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Raising credit score is not hard once you start thinking outside the credit box. Most of the 35 million Americans with less than stellar credit have embarked on the traditional way of fixing credit score-financial discipline, careful budget planning, patience and dedication. A small percent of Americans, however, found there are a lot easier and faster ways to fix FICO score. The only thing required is knowledge about the credit system and various loopholes in it.

What I said. It isn't in conclusion that the actual about Bad Credit. You see this article for facts about what you wish to know is Bad Credit.

About Bad Credit

Here are 3 simple tips that will help you understand how fast credit repair works:

1 The collection agency strategy.

Contrary to what you think, paying off an old collection can actually lower your credit score. Why? Because it will upgrade the account status to "current". The baddebt (although now paid) will continue to adversely impact your score and will stay on your report for 7 additional years. If you want to fix collection accounts, you have to approach collection agencies in different ways. There are two things you have to keep in mind. 1 Collection agencies usually pay pennies for each dollar that you owe and still make a profit even if you settle for 20% or less paid off at 2. collection account is still considered a negative item. A deleted account collection, on the other hand, will bring an instant increase in your credit score. These two facts will help you understand which are the two main priorities when dealing with collection agencies-get collection agencies to agree on a very low settlement amount and convinces them to delete the item once youpay the settlement. There are various strategies you can use in order to achieve these objectives 2.

2 The strategy Disputes 623

Disputes 623 allows you to dispute a listing with the original creditor. In such cases you are not disputing the validity of the whole account (the debt is not mine), but the validity of a specific item within the listing (wrong account balance, wrong account limit, I didn't pay late that moth etc).Contrary to what you might think, there are very few original creditors who keep decent records. Most credit card and mortgage landing companies only keep records for a 13-18 months. Why?Because it takes a lot of money to preserve various data in your files as well as to transport data from one system to another (in case of acquisition).So if you debt dates back to more than a year and a half ago, the original creditors might not be able to prove that you are wrong. If the collection agencies have no records to prove that the specific listing is correct, they are required to remove the negative items from your record

3 The lawsuit strategy.

Stop thinking about yourself as the victim in the credit game. You have more rights than you think. For example, under the Fair Credit Reporting Act you are allowed to dispute any inaccurate, outdated, incomplete, questionable and ambiguous item on your record. If credit bureaus fail to come up with a decision on your case within 30 days, they are in violation of the FCRA. Collection agencies are also breaking the law if they don't validate the debt (upon yourrequest), but keep it in your credit file; if they still call you after you send them to cease and desist letter; if they claim to garnish your wages, seize property or have you arrested. In such cases, you are entitled to sue the respective agency. When it comes to credit repair, you have numerous rights. The more you know about these rights, the better your chances to raise credit score fast.

Raising credit score is not hard. There are various tricks and little known secrets that will help you boost your score in no time. Once you start thinking outside the box, you'll be surprised to find how easy credit repair actually is.

I hope you will get new knowledge about Bad Credit. Where you can offer use within your evryday life. And most significantly, your reaction is Bad Credit. Read more.. Raising Credit Score-3 Tricks That Helped Others to Clean Up Credit in Less That a Month.