There are two ways to fix bad credit.
1.Remove negative items from your credit report.
2.Create positively reporting accounts.
Let us look at the second part first because this is much easier. You should open a new credit line and make on time monthly payments. Additionally pay all your current bills on time.
This will help build a trail of positive on time payments on your credit report. We suggest an unsecured Visa or MasterCard, however if your credit is really damaged then you may have to open a secured card.
The second step is deleting bad items from your credit report. This is by far the best way to raise a low score. If you do not remove these items it does not matter how many positive reporting lines of credit you have because the bad credit items will continue to lower your score.
However there is a lot of inaccurate information that says you can not delete an item from your credit report without waiting seven long years. This is not true.
The credit bureaus have spent millions of dollars creating this falsity. The reason for that is because it costs them time and potential profits to investigate disputes.
Additionally the bureaus have created a rumor that credit repair is illegal. This is not true.
Not only is credit repair legal the government has created laws to protect you and your credit report. The Fair Credit Reporting Act passed by Congress says that an item can remain on your report for a maximum of seven years. It says nothing about the minimum amount of time a mark must remain.
It may not be the most ethical to dispute a mark you know is accurate, it is your government given right. You will never face any legal prosecution, jail time, or fines for disputing any item.
Additionally how ethical is it for lenders to charge you outrageous interest rates, late payment fees, and over the credit limit fees. Further you can have 20 years of on time payments but that doesnt matter when the first month of delinquency hits.
Often life throws a curve ball such as; illnesses, unemployment, medical bills and more. How ethical is it for you to be punished for a catastrophe for seven long years. You could have been the model customer for 20 years prior.
In conclusion you dont just have to live with a bad credit rating you can remove the negative marks. This will help you improve your credit rating and give you the life that you and your family truly deserve.
1.Remove negative items from your credit report.
2.Create positively reporting accounts.
Let us look at the second part first because this is much easier. You should open a new credit line and make on time monthly payments. Additionally pay all your current bills on time.
This will help build a trail of positive on time payments on your credit report. We suggest an unsecured Visa or MasterCard, however if your credit is really damaged then you may have to open a secured card.
The second step is deleting bad items from your credit report. This is by far the best way to raise a low score. If you do not remove these items it does not matter how many positive reporting lines of credit you have because the bad credit items will continue to lower your score.
However there is a lot of inaccurate information that says you can not delete an item from your credit report without waiting seven long years. This is not true.
The credit bureaus have spent millions of dollars creating this falsity. The reason for that is because it costs them time and potential profits to investigate disputes.
Additionally the bureaus have created a rumor that credit repair is illegal. This is not true.
Not only is credit repair legal the government has created laws to protect you and your credit report. The Fair Credit Reporting Act passed by Congress says that an item can remain on your report for a maximum of seven years. It says nothing about the minimum amount of time a mark must remain.
It may not be the most ethical to dispute a mark you know is accurate, it is your government given right. You will never face any legal prosecution, jail time, or fines for disputing any item.
Additionally how ethical is it for lenders to charge you outrageous interest rates, late payment fees, and over the credit limit fees. Further you can have 20 years of on time payments but that doesnt matter when the first month of delinquency hits.
Often life throws a curve ball such as; illnesses, unemployment, medical bills and more. How ethical is it for you to be punished for a catastrophe for seven long years. You could have been the model customer for 20 years prior.
In conclusion you dont just have to live with a bad credit rating you can remove the negative marks. This will help you improve your credit rating and give you the life that you and your family truly deserve.
About the Author:
For a free credit consultation call 1-866-246-7311. To learn how you can remove a bad credit mark from Palisades Collection or NCO Financial two common collection agencies.
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