Repair Credit Score

Archive for January, 2010

Do these bad Credit Repair techniques work?

Sometimes, sending a lot of Credit Report dispute letters to credit bureaus works and the disputed items are actually removed from your Credit Report. However, it only works temporarily. If you actually find errors on your Credit Report, then you have nothing to worry about. However, if you are disputing your Credit Report items without real cause, you may be committing a crime. Even if the Credit Repair company is the one sending all these dispute letters, it is still your name on the dispute letters, not theirs. What does this mean? It means, you are committing crime, not them.

Why does this only work temporarily?

Since the creditors who put negative information on your Credit Report have not been paid, they will continue to put more negative information on your Credit Report.

So what do I do to repair my credit? What are good Credit Repair techniques?

You can repair your credit and repair your Credit Score the legal ways. For example, if the creditors put negative information on your Credit Report, you can talk to them and ask them to take the negative information off your Credit Report. This doesn't work every time and it depends on how convincing you are and who you talk to.

Also, you can correct items on your Credit Report that are incorrect. To improve your Credit Score and Credit Report, you can also ensure that your credit report contains items that creditors like to see when trying to approve you for loans. We also discuss various ways to repair your credit and repair your Credit Score on this website.

Question: whats the best/fastest way to improve Credit Score?

can someone please tell me the best way to fix a bad Credit Score. (i live in the UK by the way) I'v sorted out my finances now and paid off all my debts but i'm constantly being refused credit cos of my past. I'v had no ccj's, only missed payments.

Answer: Best thing to do is go to your bank and ask for a secured credit card or loan. This works in Canada and the US...should also in the UK. The bank can not lose and they get to charge you fees and interest.

You give them say $1,000.00, which they will lock up in a GIC or savings account (you have no acess to it)and they give you a credit line or a credit card. Now you use it and maintain a perfect payment schedule for 6 months then after that ask for an increase to $2,000.00, use your card and pay again promptly for six months, ask again for another increase. You can keep it going (based also on your ability to pay....employment etc.) This method worked wonders for me.
When I say use it-the card or account , you can take the money out (cash advance ) and put it right back, ALWAYS MAKE YOUR ACCOUNT ACTIVE..LOTS OF ACTION AND GOOD PAYMENT HISTORY COUNTS! Do this for a couple of years and you will be in the green. They (the banks) don't advertise this, you have to go and ask. Time and good payment habits will move your score up.

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