Question by troubleshy57: What is the best way for a person to “repair” their credit?
I’m not sure how to go about this especially if some of the debts is more than 5 years old.
Best answer:
Answer by KNN
Don’t pay anyone to repair your credit. Its simple and you can do it yourself. these credit repair companies will charge you lots of money. What you have to do is contact all these companies you owe money to. If you don’t know, get a free credit report from one of the 3 bureaus. Contact them and pay them, you can also offer settlement amounts, but keep in mind they might 1099 you and it will show on your credit report that its a settled account. Once you get all the matters paid, continue with paying your accounts ON TIME. After as much as 6-8 months you will see an increase in your credit score. And don’t apply for any new credit for awhile.
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Credit Agencies and FICO Score?
Here is step by step instructions on line, along with lost of other info.
http://www.creditscorequick.com/2008/03/fix-credit-report-errors-learn-how.html
No one can remove accurate and timely negative information from a credit report. Any thing a credit repair clinic can do for you, you can do for yourself at little or no charge.
http://repaircreditinfonet.com offers, Selected credit repair resources, news, articles, solutions.
To Repair credit score
Your credit score is based mostly on:
1. Length of credit history
2. Payment history.
3. Ratio of credit used to available credit.
4. Number of credit inquiries you authorized.
If you cancel your card, you’ll be hurting your credit ratio. (#3).
You want to deliberately keep your oldest credit card open, even if you never use it.
You want to always pay the minimums of each loan on time every month.
You want to keep your available credit high, but actually only have balances equalinig 25% or less.
You want to keep your credit inquiries to a minimum. Try for no more than 3 or 4 per year for any type of loans.
You do these things and your credit score will quickly soar into the 700s.
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http://www.loansandinsurances.com/
The best way to repair your debt is to contact a credit repair companies like seeofdebts.com or http://www.ezconsolidation.com ….this credit repair companies help in planning out your debts..by contacting your creditors and making settlements with them…..and i think that the period of debts (5yrs) would not be a problem.
check out http://ceditdebtrepair.info it helped me out
Hi,
I used “Credit Solution” to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It’s legitimate.I came across this company on NBC News Special Edition.Check it out here:
http://www.x.se/a5nf