No Time Like the Present for Credit Repair
Credit Repair as a Necessity
Credit Repair as a Necessity
Credit has never been so relevant. Creditors, bordering on paranoia, have tightened their guidelines to the point that millions who could once qualify for anything are now unable to borrow a penny. Credit repair has become a matter of virtual necessity. Here are some super credit repair tips than can help you restore the health of your credit reports.
Open New Credit Cards (You Heard Me Right)
Times are tough. And if you are among those who experienced trouble during the current recession it can be hard to think about your credit report, much less get down to the business of credit repair. But there is nothing more important. The place to start is with brand new credit cards. Sound crazy? Maybe, but the FICO scoring model loves nothing more than seeing you prove that you know how to borrow and repay debt.
Secured Cards Are a Great Option
Okay, so maybe you will not qualify for a super-duper platinum card with an unlimited credit line. It does not matter. Secured cards are every bit as good. In fact, they are just about the best
credit repair tool available. You will not get turned down, they are inexpensive to start, and they will make your FICO scores very happy. Get two and watch your scores take off.
Keep Those Balances Low
Low is the way to go! The lower your balance, the higher your score will be, and vice versa. If you need to use the card for new tires, school expenses, or other necessities, do not fret. Do what you must. If you max out the card in any given month there is no permanent damage. Just pay your cards down when you can and your scores will soar again. For the best credit repair results use only 20 percent of the card limit.
Challenge Collections
Got collections? Sometimes it is best to hide. There is no point in confronting a collector and taking the abuse if you are not ready. But if you get a collection letter and you do not recognize the debt, or you previously paid it, send a debt validation letter and force the collector to prove the accuracy of their claim.
Debt Negotiation Opportunities
While you are at it, it you have enough money to make a decent offer now is the time. Collectors are hungry. As the economy has been tough on you, so has it been on them. The best time to make an offer is towards the end of the month. Before you make the call figure out how you can get the money to them fast and be ready to act if you strike a deal. Your goal is to tempt them into taking a nice low offer.
Clean Up Your Credit Report
Every little mistake on your credit report is costing you something. And you can do something about it. You are not helpless. Credit repair offers an intelligent method of identifying all the errors and eliminating them. There may be some issues you will have to live with. That is reality. But you might also be amazed at the number of problems that will vanish when properly challenged.
Consider Credit Repair Services
You do not have to do everything on your own. Credit repair services are cheap and efficient. It is sort of like bringing your car to the shop for a tune up. If the mechanic knows what he is doing you should be able to drive away in a smooth running, well oiled machine, ready for the highway. A credit professional will take over the job, manage the dispute process for you, and give you the advice you need to get back on top. Good luck!
Copyright 2010 Ian Webber. All Content. All Rights Reserved.
No Time Like the Present for Credit Repair
By: Ian Webber
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