How to fix Your Credit Score
When you decide to fix your credit score first action you need to take is “obtaining your complete credit report”. This insight will help you to know what was going in with your credit history in the past. Do a careful examination and locate each and each and every item which has the high probability to affect your credit score.
Which item should I look for in the first place?
While there are many places you can find around the internet where you can get a free report, getting a credit report for some amount will give you more accurate information and let you know how far you still need to go to achieve your dream score.
When you look at your credit report in the first place try to find out the discrepancies. If anything that came mistakenly on your account still it counts. Sometimes you know you never be late for the particular payments but still if it is marked as a late payment, note it down. The next important area you need to look carefully on how to fix your credit score is “is there any unrelated over limit item which is reported incorrectly”. Possibilities are there that the credit bureaus may have misconception on you that you are making a consistent over limit purchases.
In addition to check out the derogatory information like delayed payments, rulings charged of accounts, sets & economic failure. These all have the ability to decrease your credit score drastically.
How to improve my accounts?
Well, it’s the crucial step in improving your credit score. First try to figure out the damaged accounts which should be separated from your accounts which are in good condition. List these accounts such that your old accounts are pulled to the last and the new accounts are listed in the first.
Now you should take necessary action to issue the credit correspondence letters to the credit card agencies that were reported mistakenly on your accounts. Here you need to be bit careful. Because as you know, all 3 agencies will not report in the same way each will have their own methods. So ensure that you are not issuing the credit correspondence letterer to the agency who was not reporting you wrongly.
Hope fully you will receive the reply from the credit agency some might took the necessary steps and clear off your reports while some others would not take any corrective actions. You can deal with them through either debt validation or 623 methods. Both of these strategies inquire the particular account holder to prove certain information with regard to the affected account if they fail to prove then can’t report the particular payment to the credit bureaus.
When these strategies fail to remove the incorrect accounts from your credit report you need pay your creditor to do so.
While there are numerous things that anyone can do to repair their credit quickly it is advisable to start with the quite achievable expectations. If you don’t have any recent bankruptcy or foreclosure then possibilities are there to repair your credit quickly. But set achievable expectations. Anyhow if you had made most of your payments on time and your issue was older there are high chances for you to improve your credit score in relatively short span of time.