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How To Raise Your Credit Score - 3 Credit Repair Strategies That Work in 45 Days or Less

June 11, 2012 | Comments: 0 | Views: 210

Let's take a quick and easy look at 3 of the most effective credit repair strategies anyone can use to dramatically enhance, improve or raise their FICO score... WITHOUT doing anything unethical or legally risky.

The truth is, these exact methods are some of the "secret" methods that many credit repair attorneys, agencies and clinics offer for thousands of dollars, and you can do all of them by yourself, should you so choose. (although hiring a legitimate credit repair company to help you is certainly okay as well should you not wish to do the dirty work yourself!)

Strategy #1: Direct Negotiation With Original Creditor For Removal

This is often called a "pay for delete" and is very, very simple to accomplish. Quite simply, you are going to contact your original creditor and offer to pay the amount you owe, in exchange for a complete deletion of any negative payment history. You must get documentation that outlines the agreement before you pay anything (to protect yourself) and this works wonderfully well on all accounts that are 2 years old or longer.

A quick tip? Some creditors will tell you they "aren't allowed" to do this, or that it's against policy. If that happens, just call back - or send a second letter. You WILL get someone with authority who will agree to accept your money in exchange for a deletion, as all lenders are in the business of making money, not punishing old customers.

Strategy #2: Reduce Current Outstanding Balances

I don't care how many old bills you did NOT pay, there is nothing that keeps your credit score down today than a high debt to available credit ratio. Pay this down to about 20% of your available credit, and you WILL see a dramatic improvement in your score in one reporting cycle. (usually 30 -40 days)

The first 2 strategies require that you have a little bit of money saved up, the 3rd does not!

Strategy #3: Document, Dissect and Dispute

This is the most traditional credit repair technique available, and simply involves dissecting each and every negative listing on your report, and filing a challenge with the credit bureaus based on protections offered by the FCRA. Essentially, if something is NOT 100% accurate (and this includes the balance they're reporting, the date of the last activity, where you lived, how your name is spelled on the accounts in question, etc) you have the legal right to have it fixed, or removed... within 30 days. There is a bit of an art and science to this strategy that's a bit beyond the scope of this article, BUT... if you learn how to challenge your derogatory listings, you WILL improve your FICO score very quickly. (as the credit agencies simply are NOT able to keep up if you are aggressive and persistent!)

Click HERE to learn how to Improve Your Credit Score 90 POINTS in 90 Days... GUARANTEED!

You Deserve A Second Chance. Get it HERE!

Source: EzineArticles
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