| Is your credit score far from perfect? Are you | | | | want to come up with a viable course of action. |
| planning on a major purchase or loan but fear being | | | | 2 The newer the debt, the bigger the influence on |
| rejected by creditors? Don't worry. More than 30 | | | | credit score. |
| million Americans are in the same boat. According to | | | | In general the most recent credit history has the |
| the general myth, there is one sure way to fix bad | | | | biggest influence on the overall FICO score. The older |
| credit report-time, financial effort, careful budget | | | | the negative item, the less impact it has. Credit is time |
| planning and discipline. This formula has proven to bring | | | | sensitive and you have to keep that in mind when you |
| a gradual credit score increase. The paradox here lies | | | | embark on your credit repair program. Taking care of |
| in the fact that most of us need that nice house, luxury | | | | current late payments or bringing down current credit |
| car, personal or business loan NOW, not later. Luckily, | | | | card balances to a healthy balance/ credit ratio will |
| there are some less known secrets and shortcuts that | | | | produce dramatic change in your score. |
| can help you raise your credit in a shorter period of | | | | 3 "paid " vs "deleted" status. |
| time. | | | | Contrary to what many people think, a paid collection is |
| Here are 3 rules you have to keep in mind if you want | | | | still considered a negative item on your credit report. In |
| a fast credit repair: | | | | other words, it still impacts your score negatively. |
| 1 Where are you?Where do you have to be? | | | | "Deleted"collection on the other hand will instantly raise |
| The fist thing you have to figure out is where do you | | | | your score with more than 30 points. How do you |
| stand on the credit scale and where do you have to | | | | delete a collection? You simply negotiate with the |
| be. The Fico score places you somewhere on the | | | | collection agency and promise to pay the settlement |
| credit scale between 300 and 850. This three digit | | | | amount ONLY if they delete the item from your |
| number that the credit bureaus assign to you | | | | record. In a similar fashion, you can send a "goodwill" |
| determines if you will get approved for a loan and if | | | | letter to your creditor explaining the circumstances |
| you will have to pay thousand of dollars in high interest. | | | | surrounding your late payment and ask them to |
| And not only that -the score is increasingly used by | | | | remove it from your account. A little diplomacy can |
| employers, landlords, insurers in order to evaluate | | | | really work miracles with your credit score. |
| applicants. Once you know where you stand, you | | | | These are just some of the things you have to keep in |
| have to figure out where you need to be. Different | | | | mind if you want to fix bad credit report. There are |
| lenders have different criteria. A 700 score can be | | | | many other credit secrets that can help you boost |
| enough for one creditor to give you the most | | | | your credit in no time. You'll be surprised to find out |
| favorable loan. Yet it might be insufficient score for | | | | how easy credit repair is once you start thinking |
| another lender. Do you need to raise your score with | | | | outside the box. |
| 10, 20, 50, 100, 200 points? This is vital information if you | | | | |