Categories for How to Fix Credit

Fix credit or credit fix?

May 26, 2009 3:20 am Published by

Fix credit or credit fix?

It’s really the same thing.  A rose by any other name is still a rose.  Whether you need to fix credit or you need a credit fix; you basically want the same thing: A higher credit score, a credit report with fewer derogatory items on it.  The question is how to go about doing just that. 

Your credit score is the biggest determining factor lenders look at when assessing your risk for any type of loan. This 3-digit number affects the outcome of you getting an auto or home loan; not to mention if you want to refinance your mortgage, manage your debt, and save for the long run. And if you are able to qualify for a loan, your credit score affects the rate you will be offered. Because of this, having a healthy credit score may save you hundreds of dollars every month because you’ll be paying much lower interest rates. 

There are many ways to fix credit and raise credit scores, and unless you know what they are you probably won’t get the results you’re hoping for. Understanding the credit repair process makes it faster, easier and much more effective.   Hiring a professional assures you that you are going to get the best results possible for your credit fix.

One of the best ways to get a credit fix is to get new credit.  Since your credit is primarily driven by your credit accounts over the last 24 months, getting new good credit should help substantially improve your credit scores.

Fast Credit Repair

One thing remains constant, when you need to  fix credit  Or  a credit fix ?   then hire a professional if you want the job done right!



Interest How Interest Impacts Fixing Credit?

May 15, 2009 12:59 pm Published by

Interest How Interest Impacts Fixing Credit?

Why would anyone choose to pay higher compound interest on a credit card for longer than they had to? The fact is, many people see their interest rate and don’t even question it.If there is an increase in their APR, they accept it as part of the credit game and pay it without a second thought. But why?

It turns out that much like receiving a credit card pre-approval letter in the first place most people neglect to read the fine print when they get their monthly statement. For some, it’s the “out of sight, out of mind” mentality. Soon, though, the card holder will find himself in a mad-panic approach to fixing credit that may be a case of too little, too late.

After the compound interest rates increase and the card holder is literally negotiating the selling of her firstborn to appease the creditor, it’s time to go to the credit cleaners to see if there is anything they can do. In a hope they can clean your credit report, the firm will usually ask for a monthly fee that can run into the hundreds of dollars, only paying a small percentage of the compound interest that has accrued since they opened their card.

The fact is, paying the minimum monthly payment has absolutely no impact of the actual balance of your card, and credit counseling services pay only a small percentage higher than the minimum payment; in essence, stringing you along for years as the interest rates on the card continues to sprout leaves of charges that make paying off your credit card take longer, and helps your pocket-book remain light as a feather.

Fixing credit is not a short-term struggle…

It does take years to clean your credit report and once again live with strong credit. Being able to take out loans for cars, or your children’s education, are vital in today’s world. But when you’re paying hundreds of dollars to simply meet your minimum due, it’s a battle that cannot, and will not be won.

Therefore, when paying off your credit card bills, or working with credit counselors, you must be forthcoming about what you can afford to pay each month because it’s imperative you make a monthly payment at least 15% greater than the minimum payment due.

By working with a firm that can help you maintain the upper-hand when paying off your credit card debt, as well as remain fed, clothed, and sheltered, you will see a startling difference in your credit report. Where it was once in the 600s, you will find, after only a few months, a stronger credit score. This is due to the fact that anyone who is worth their weight in gold knows that you cannot pay for debt by going into greater debt.

Put yourself on a budgetary diet…

The feasible way around this is to pay a higher monthly credit card payment while “trimming the fat” so to speak. In other words, getting out of debt and cleaning your credit report should be a priority. But so are essentials of life, such as eating and wearing clothes. Therefore, when choosing a company to help you dig your way out of debt, it is important to remember two things.

First, never get in bed with a viper, because they will, without a doubt, bite you. If you see yourself relying on credit excessively, chances are, you probably are. When in doubt about what to use your credit card on, if it’s not a necessity, then it would probably be wise to put the item down and move on. Secondly, if you have the chance between paying a slightly higher monthly payment and being debt-free in five years, as opposed to paying the minimum payment and being debt-free in ten, choose the 5-year plan.

Becoming debt-free might take a little extra scrimping on your part, but clean your credit report is worth it.

Fast Credit Repair

For a lower monthly payment, credit cleaners like Lexington Law will work with you to achieve a debt free status. By resolving inconsistencies and irregularities with your credit, their fixing credit solutions will improve your financial stability.



5 Easy Tricks That Will Help Fix Credit

May 13, 2009 8:42 am Published by

5 Easy Tricks That Will Help Fix Credit

Let’s debunk the myth about bad credit.A lot of people think that fixing your credit score is a question of time, changing lifestyle, sticking to a tight budget and eventually paying off your debt in full. This formula works in most of the cases. But in reality there are far easier and faster ways to raise credit score. Simple credit tricks can help fix credit and boost credit score with more than a hundred points within a few months.
A smart approach to fixing credit includes:
1 Paying off late payments first. Nothing affects your credit more adversely than past due and late payments. That’s why they should be your priority when trying to fix credit.
2 Managing your level of debt and transferring balance when necessary. Let’s say you have two credit cards with 2,000 $ limit each. The balance on one of your cards is 0 $ and the other one is 1200 $. Such balance will work against your credit score. Ideally credit balance should be kept below 30% of your credit limit. In this case this is less that 600 $ on each card. What you should do is transfer 600 $ to the card with 0 balance, so this way both cards have balances that fall below the dangerous zone.
3 Do not close old credit cards. The length of credit history is important when credit bureaus determine your credit score. Closing old cards that you are no longer using could result in “erasing” a part of your credit history. Less credit history means less credibility according to credit report bureaus.
4 Paying off collections in full may not help your credit score. It is a paradox, but it can actually lower your credit score. When payment is made on a collection account, collection agencies update credit bureaus to reflect the account status as “paid collection”. In order to clear the collections altogether from your record, you have to call the collection agency prior to making payments and explain that you will pay off your debt only if they withdraw the collection from the credit bureau reports
5 Take a good look at your credit report. If there are any errors or inaccurate information, dispute them immediately
These are just a few credit tips that can help fix credit and raise score fast. Of course there are many other tricks and well kept credit secrets that can produce amazing results in no time

ClICK HERE TO LEARN ABOUT LITTLE KNOWN CREDIT REPAIR SECRETS

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You Can Learn How to Fix Credit Scores and Develop A Program to Get Your Credit Back on Track

May 1, 2009 9:40 pm Published by

You Can Learn How to Fix Credit Scores and Develop A Program to Get Your Credit Back on Track

If you have a low credit score or are having trouble getting financing, you need to step back and explore how to fix credit and credit scores. Fortunately, it is possible to learn how to fix credit scores and improve your chances of getting credit. Unfortunately, all the information in the world on how to fix credit won’t do you much good unless you make up your mind that you are going to change your spending habits. Once you have made up your mind the key is to actually put the plan in action.

Never the less, it is worthwhile to learn how to fix credit and the best advice on how to fix credit is to pay your bills on time. You should also work to keep only low balances on your cards, and resist the temptation to borrow more money than you actually need, particularly when it comes to revolving credit. Assuming you are looking for help on how to fix credit because you are already in a little bit of trouble, then there are some quick steps you can take to make an immediate improvement.

The first step in how to fix credit is to find out exactly what your situation is. You can do this by obtaining copies of your credit reports. Once you see exactly where you stand you can develop a plan on how to fix your credit scores. Your goal is to reduce your credit to 30% or less of your available credit. Reviewing your credit reports will also help you determine if there are errors that you can quickly repair. Getting any inaccurate information cleaned up is the best first action you should take. While it may not be easy, it will give you a chance to give your credit rating a quick bump right away.

The first advice on how to fix credit is to get your balances paid down. Not only will this help to improve your score, it will make it a little easier to make your payments. Credit scores are calculated using a number of factors such as how your total credit profile looks in terms of the amount of debt you have compared with the amount of credit you ave available. Paying down your cards will definitely help you in this regard.

One key trap that many people fall in to is deciding to repair their credit and then closing the account. Your credit rating is determined based on how much you owe, of course, but this is not the only measure. Factors such as your credit history over time are also important. You want to be sure to keep at least a couple of your older accounts open.

There is a great deal of information available discussing how to repair credit. The fundamentals are your best bet and that means paying down balances and making sure that all your bills get paid on time. Gimmicks and tricks are just not worth it. You also don’t need to engage a company that will require a fee be paid. You can do this on your own. Just make up your mind, be disciplined, and in now time at all you’ll have great credit again.

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How To fix Credit With No Credit Repair Companies-Free Do It Yourself Credit Repair report – Improve Credit Score.



Fix Credit Report Errors

April 16, 2009 3:54 pm Published by

Fix Credit Report Errors

Unfortunately, chances are there are errors on your credit report that are significant enough to hurt your credit in a way that would not allow you to get a favorable loan. That means your inaccurate credit score could cost you the ability to get an auto loan, rent an apartment, or even get a job. Studies show that 1 in 4 credit reports have false information, but there are ways to quickly fix credit report errors.

The first step is obvious. Get a copy of your credit report. By law, the three credit reporting agencies are required to give you one free copy of your report once a year. You can elect to receive a copy from all three agencies at once, or obtain one report at a time. If you have not reviewed your credit report in over a year, it’s recommended to request them all at once since some information can be listed on one report but not the other. You can always purchase a copy of your credit report later if needed.

Once you receive your credit report, you simply want to look for errors, particularly the negative errors. Look for:

* Open accounts that are not yours
* Notices of delinquent payments that have been on time
* The same loan or credit card listed twice
* The absence of a loan or credit card

You also want to double check that your name, birth date, current address and social security number is accurate. Otherwise information from someone else with a similar name could be confused with yours. Some wrong information, however, is not necessarily a big deal. The use of “street” versus “road” in your personal address, for example, or the correct spelling of your previous employer. These types of things will not affect your credit score and does not really make it any easier for an identity thief to steal your information.

If you find an error, notify the credit agency immediately. They are required by law to contact the lender/creditor and within 30 days, but you’ll need copies of your credit report first.

Fast Credit Repair

Find out how your credit score compares to the national and get your quick credit fix. Download your credit score and reports for free at http://www.thecreditfix.info

www.ScoreMoreCredit.com – Credit expert, Brian Diez, reveals why it’s so difficult to remove inaccuracies from your credit report.
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