Americans have very little patience! It is no secret that we Americans do not like to wait for anything, especially when it comes to financial concerns like credit repair… we want fast credit repair!
Well, the good news is, you can get your credit repaired fast, the catch, what is fast?
When it comes to credit repair, there are a lot of options out there. But really, it kind of boils down to 2 distinctly different approaches… that is Do-it-yourself, or use a credit repair service. I know that seems simple, but isn’t that the case with most things when you really get down to “brass tacks?”
Anyway, as far as getting your credit repaired fast, both options can be very promising. In all my experiences in the credit repair world, I have found that using a solid, reputable law firm to repair your credit, tends to yield the best (and fastest) results. To me, the best part about using a credit repair service, is you don’t have to get your hands dirty… they do all the work for you, you just sit back and watch your credit score skyrocket!
Conversely, you can do a pretty decent job of fast credit repair going the “do-it-yourself” route. A word to the wise – if you are going to repair your credit yourself, make sure to have an organizational plan before doing so… I talk about this quite a bit in my eCourse as it is usually the downfall for most people. They tend to get overwhelmed with paperwork and follow-ups. One system that I have found works extremely well is the Credit Secrets Bible – If you were to follow this guide “to a T” you can’t go wrong, and you should see the kind of results you are after…
Listen, I am not going to lie to you, credit repair can be tough, but if you follow some sage advice and keep at it, you should be able to see your score rise by 25, 50, even 100 points in no time.
Fix A Damaged Credit Report
If you have a mistake in your credit report, you can have a low score and it could be difficult to get someone to give you credit. Fixing your credit yourself is optimal if you want your credit report to look good. These tips will help you fix your credit.
Pay off your bills before attempting to repair your credit. Credit counseling can help you to design a complete debt repayment plan.
In order to repair credit, you should take out new lines of credit and pay the bills right away. This way, you show that you know how to handle money and that you’re committed to doing it properly.
When working with a credit repair agency, it is imperative to find one that is legitimate. Just like any other field, credit repair has plenty of companies that do not provide what they promise. Unfortunately, there have been quite a few people who have been scammed by these companies. Reading unbiased customer reviews will help you decide what company you want to work with.
Credit counseling is a great place to start when you are in need of credit repair. Credit counseling agencies can help you reduce your debt, and guide you to live within your means. However, you will need to make monthly payments to creditors, and stop using credit cards.
Having to deal with a collection agency can be extremely stressful. You can submit a cease and desist statement to a creditor to stop harassment. Letters such as these prevent calls from collections agencies, but the consumer must still pay the debts under dispute.
Make sure to review your credit card statement monthly to make sure there are no errors. If this is the case, you need to call the company right away to avoid them from reporting it to credit reporting agencies.
Try to get a secured credit card if you are not eligible for an unsecured card. This will help you fix your credit. Secured credit card applications have a high rate of approval because you must fund a security deposit against your credit limit. If you show a good history of payments with this card, it will help improve your credit standing.
Once you have your credit score higher, you will be able to finance a house. Making mortgage payments in a timely manner helps raise your credit score even more. Having a major asset like a house also looks good to potential creditors. If you have to take out a loan, this will help you.
Contact a reputable credit counseling organization if you are experiencing difficulties developing a budget or sticking with one. These agencies can normally negotiate with your creditors on your behalf so as to come up with an affordable repayment plan. Credit counseling can give you the tools you need in order to keep track of your finances and stay out of debt in the future.
If you want to avoid giving too much to your creditor, simply refuse to pay towards unfairly huge interest rates. It is important to know the terms of your original agreement for the debt you incurred. Usually if you agreed to the terms the terms will be upheld as legal. If you believe the charges are excessive and your debtor will not negotiate down the interest and other additional charges, state laws might provide you with additional avenues to pursue a reduction in these charges. Federal law provides that when you are billed by a collection company the fees and interest cannot exceed the amount of the original debt. However, when you signed up for the line of credit you also agreed to pay the interest. It is possible that you can sue a creditor and claim that the interest rate charged is unreasonably high.
Paying the balances of your cards as fast as you can will help your credit score. Sort your credit cards by balance and interest rate with the highest first. Then determine which credit card is the highest either in balance or interest rate and start to pay it off first. This can prove to creditors that you are serious about paying down your debt.
As this article shows, there are a number of steps you can take to improve your credit. If you follow our helpful tips you should see a nice rise in your credit score. A good way to enhance your credit score is DIY credit repair.
Fixing Your Credit Score
Fixing your credit score isn’t a sprint, it’s a marathon, but if you’re patient and motivated, you will soon find your credit score steadily rising.
As your first step toward fixing your credit should be to seek out a complete picture of your credit by looking at your three credit reports. This can be done by going to annualcreditreport.com. Now, look over and print each report carefully, looking for incorrect information. Each credit report should have information on how to dispute things that don’t belong on your report, and more people have costly mistakes on their report than they know.
First, if you’re in credit card debt, you must stop making purchases with your cards. Cut them up, freeze them in a block of water, or give them to someone you trust, just get them out of your wallet. You can’t climb out of a hole if you keep digging yourself deeper into it! This isn’t, however, the time to close your credit cards. Your credit score considers your total credit available against the credit you are using, so cards (that you already have!) with low or no balance on them are your friend. While you may be tempted to pay off the collections agencies that might be harassing you, the most important step for you to take with your money right now is to pay your bills on time. Bringing your bills up to current and continuing to pay them on time is your key to fixing your credit. Any bill that has gone to collections should be paid after this is handled, because even once you settle your debt, that mark will remain on your credit reports for years. If you frequently forget to pay your bills, talk to your bank about setting up automatic, recurring payments for your monthly bills. This should also save you stamps!
If you have need to open a new credit card, like a loan or a credit card, be sure to do your shopping for these services within a set week or two and don’t drag it out over a period of time. This lets the credit bureaus know that all the inquiries that took place at this time were for the same reason, not a chronic and sustained need for new credit.
From here on out, it’s just a matter of keeping up your desire to come out ahead. It takes discipline and desire to really change your habits, but the rewards of better credit are significant for your bottom line and for your quality of life.