| Your credit score is a calculated as a totality of all the | | | | recorded on your report, the less of an effect it will |
| information on your credit report. Every single detail is | | | | have on your scores. You want to also work to |
| taken into consideration, factors such as the number | | | | record to positive accounts during the rebuilding |
| of open accounts, monthly pay history, age of | | | | process. |
| accounts, and the balances on each account are | | | | Another great way to totally beat the effect of a |
| some of the factors that the scoring formula will look | | | | negative account is to work to have it deleted from |
| at when computing a final credit score. Different types | | | | your three main reports with Equifax, Transunion and |
| of negative accounts affect your credit score in a | | | | Experian. Many people question if the process of |
| different way. | | | | having negative information deleted from credit reports |
| For example a third party collection account will affect | | | | really work, but the answer is yes! |
| your credit rating differently from having a bankruptcy | | | | I have personally assisted home buyers with |
| listed on your file. Each would subtract a different | | | | successfully accomplishing this goal and I must say its |
| number of points from your score but the credit | | | | only possible thanks to the law known as the Fair |
| agencies don't disclose the exact formula used to do | | | | Credit Reporting Act. Which is well worth the effort to |
| these calculations. One thing that is known is the fact | | | | learn more about how it all works. |
| that the more time that passes after a negative is | | | | |