The first step in repairing your credit is understanding your current reports and scores as best you can. Keep track of your finances, and work on a plan to clear up your reports and pay your debt. Credit scores can range anywhere from 350 – 850. Over 680 is typically considered good enough to get approved for most loans and credit cards. The best way to repair your credit is to request a credit repair firm’s help and get a legal expert on your case.
You can try to do it all yourself, but it might be a complicated process that will take longer than it should. The good thing about working with professionals is that they will use practices, tools, expertise, and knowledge. They do so to get your reports cleaned up as much as possible within the shortest amount of time possible. Plus, they might even see items on your reports that you might not even be aware of that can be removed.
If you want to do things by yourself, you’ll need to gather up all of the information you can find that’ll help back your claims up, such as bank account statements that prove you made payments. You’ll have to write a letter to the specific agency in question, since not all credit card companies and lenders report to the same bureaus. The letter will explain why you believe each particular item should not be on those reports. There are sample letters you can go by. There are existing laws set forth by the government in the Fair Credit Reporting Act. Familiarize yourself with that Act before deciding on the best way to repair your credit.
Best Way to Repair Your Credit Without Late Payments
Whether you like it or not, you probably won’t be able to get any legitimate late payments removed. The only way is if those late payments are from a long time ago or reported unfairly.
One area where a credit repair firm can help you is with debt collections. You have a right to ask a creditor or debt collector to remove a collection through a process called “goodwill request”. Of course, anybody who has ever had to deal with debt collectors knows how unscrupulous they can be. It’s in your best interest to have the experts deal with them so you won’t have to deal with the stress.
Are you worried about foreclosure? Believe it or not, there are a few circumstances under which you could potentially have a foreclosure removed earlier than expected.
There are also hard inquiries. They might not impact your score as much as some of the other items mentioned here, too many of them can add up – especially if they’re on the same report. A specialist will analyze your reports to determine if he or she can remove something.
The best way to repair your credit is with an organization such as Credit Saint. The firm is very high-rated and offers a free consultation.