How To – Fixing a Bad Credit Report

Clean Up your Credit Score in a Month.

There are a lot of Credit Repair companies out there not happy that we are revealing their secrets on fixing a bad credit report. These companies are charging big money and only doing an average job of fixing a bad credit report in a lot of cases.

There is also the problem of the debt collection agents thinking they can send you a couple of letters and threats to wipe out you future financially knowing that a large percentage of people just roll over and loose everything.

This can be changed very easily if you are armed with the right information and have a determined positive attitude and follow some simple steps.

Some of the step required in fixing a bad credit report are to get the 30, 60, 90, 120 and 150 day late payment reports removed from your file. There are ways of doing this almost overnight.

To fix a bad credit report you will need to get harmful inquiries removed and get the off quickly so you can move on in life.

You will also need the knowledge of how to stop the harassing collection phone calls that are made to make you feel uncomfortable and intimidated.

There are also little know techniques to get medical accounts deleted from your record to further improve your possibility on fixing a bad credit report.

There are some very simple steps that can be implemented to negotiate with creditors to pay pennies on the dollar to clear existing debts.

If you are facing foreclosure there is a process that can stop this from happening however start taking steps sooner rather than later, get into action now, don’t wait for the sheriff to knock on the door, it’s too late then.

There are some simple easy to do steps in resolving all these problems however the one thing most people fail to do and that is take action and blame everyone and everything else for their position.

Another issue that needs to be dealt with is not getting into the same position again; to fix a bad credit report and then get back into default is pure insanity. One of the steps in fixing a bad credit report is monitoring your spending much closer or putting an easy to follow program in place so that you can keep track of income, expenses and bill payments with out lifting a finger.

Once all these items are back under control there are some simple processes that can be implemented to double a credit card limit with just a phone call and how to get a credit card with low to zero interest rate.

Anyone can put these simple to implement methods for fixing a bad credit report in place and change their credit score within days. When we first released this information people were contacting us in days with their success stories. Its great to hear from people that have removed late pays in a phone call and had inquiries wiped out in minutes.

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Judgment Removal – How to Get a Judgment Off Your Credit Report

If you have found a judgment on your credit report, read on to learn how to get a removal of judgment off your report.

Once you have been sued, you have approximately 30 days to dispute the case, the hearing can be cancelled if you have proof the debt is invalidated. If the debt is indeed correct and owed by you, then you should contact the judgment creditor as soon as possible when served. This can help the judgment entry stay off your credit report as removal of judgment is often a complicated process.

 

Check the statute of limitations of the debt as well, many states do not allow a debt over 4-6 years to be included and could be cause for their removal of judgment, but some states do allow these debts to be renewed.

 

The best ways of getting a removal of judgment you do still owe is to set up a meeting with the judgment creditor and discuss repayment then pay it off if at all possible. This way it will never touch your credit report. When in negotiations with the judgment creditor, be sure to get everything in writing. You can use this as proof if you notice your credits rating has not changed within the allotted amount of time, usually 45 days.  

 

There is also another motion to receive a removal of judgment against you; it’s called a motion to vacate. This is a great option especially if you were sued as an error or because of social security income and retirement that were improperly served. The removal of judgment being vacated means that it will not have a place within your credit report and you will owe no payment for it. Acquiring a lawyer to help for this process is the smartest way to go.

 

The best way to avoid having a removal of judgment problem is the avoidance of judgments altogether. 

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How Long Will Negative Information Stay on My Credit Report?

You know that your credit scores are based on your money management history – and if you’re working hard to rebuild your rating, it can be very frustrating to see the same old negative information showing up on your credit report. Unfortunately, there’s not a lot you can do except wait it out. Your new, good habits will show up, and that will help your score, but the old stuff will remain for a while.

A bankruptcy will stay on your credit report for 10 years, which will seem like an eternity until you’re looking back at it. Other negative information generally stays for 7 years, unless you can get the creditor to give you a letter to delete an item. An unpaid tax lien will stay there until 7 years after the paid date.

Of course, if you’ve proven to the credit bureaus that an item was in error, that will be removed immediately. What goes on the report?

Public Records – bankruptcies, court and default judgments, liens, and foreclosures. Late payments – listed as 30 days late, 60 days late, 90 days late, and 120+ days late.

Charge offs – Accounts that are in default and which the creditor has charged off and reported as a loss. Collections – An account that has been turned over to a collection agency. After the “bad stuff” your credit report will list all your accounts in good standing.

We don’t know the exact formula FICO uses to compute your score, but we do know that the more accounts in good standing, the better. So if your credit needs repair, keep as many accounts in good standing as possible.

You may not recognize the names of your creditors as listed on your credit report. It will help to know that “I” stands for installment loan, “R” stands for revolving credit, and “M” stands for mortgage.

If you get your credit report and see unusual names and can’t match them up with any of your accounts, do not hesitate to call the credit bureau that reported it – in fact, do it immediately. Only if you know who is reporting what can you address the validity of the entry.

And of course, if you find out “who” and you’re not familiar with the company, you need to file a protest immediately. You could be looking at a case of stolen identity. Consider requesting a fraud alert or even freezing your credit report.

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How To Get A Free Credit Report

We all know its a good idea to keep up with the information found in our credit reports, but who wants to pay extra money to do so? The truth is you can learn how to get a free credit report from each of the three major credit reporting agencies, and the process is very simple.

Learning how to get a free credit report is quite frankly a snap. The federal government requires each of the reporting agencies to provide anyone with a copy of their reports at least once every year. This means how to get a free credit report will involve only basic inquiries to the three agencies. This is generally done in writing to ensure you are who you say you are. Or, there are web sites available that can help consumers learn how to get a free credit report from all three agencies at once online and quite rapidly.

No matter what route you go to apply the lessons learned in how to get a free credit report, remember to take care with your personal information. Make sure if going online to ensure a site that requests personal details like your Social Security number is secured and safe.

How to get a free credit report is a very basic process, but the fact is its an important one. Knowing how to get a free credit report and actually doing so on a yearly basis can be vital to ensuring credit records are accurate and up to date.

As you learn how to get a free credit report, you will find the information contained in the report is used by loan companies, credit card companies and banks to determine whether they should do business with you. The resulting scores are also used to decide an interest rate you should be charged. If the information contained in the reports is wrong, its imperative to have it corrected to protect your score and your financial well being.

Once you learn how to get a free credit report, make a date every year to pull it again. In this age of identity theft, its very important to keep up with ratings to ensure information contained is accurate. When you learn how to get a free credit report and then only use that information once every few years or one time only, you could find the facts of the report change drastically between viewing.

How to get a free credit report is an easy process and one thats ensured by the federal government to be possible. Agencies that dont or wont provide information on an annual basis are breaking the law. It is your responsibility, however, to pull your reports and check them out each year. Learning how to get a free credit report can protect you and your financial well being.

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Why Fix Your Credit Report

Your credit report is a statement of your financial status. Whether you are applying for a loan or looking for employment, your credit card will be taken into consideration. Your credit report is compiled by any of the three nationwide companies: Equifax, Experian and Trans Union. A report of all your financial transactions and to whom you owe money is made to these companies by information provider companies – such as banks, insurers, creditors and employers.

Credit Reporting Agencies (CRAs) provide you with a free annual copy of your credit report. CRAs also sell it to employers, banks, insurance companies, and others. Your future financial transactions, therefore, depend completely on your credit report. In this scenario, it becomes imperative that any errors in it must be fixed immediately. For example, most landlords will consider your credit rating before leasing you an apartment. A negative report will, in this case, become a hurdle in your renting an apartment.

A negative report also means that you will have to pay higher premiums for any insurance policies you might wish to purchase. The same holds true for obtaining loans also. There are fewer chances of being granted a loan. Even if you are granted one, you will have to pay higher interest rates.

A negative report also affects your chances for finding suitable employment. This is because employers can access your credit report and if found negative, you not get the opening.

Even if you are employed, a negative report can affect your career adversely. This is because you can be denied further promotions. Apart from these, a correct credit card report protects you from identity theft. This happens when a person gains access to your personal information and opens new credit card accounts using your credit card number and social security number.

When you dont pay the bills, it will be reported to the CRAs, who will in turn mention it in your credit card report. If such a situation arises, you need to get the problem fixed immediately. Keeping this in mind, you must make sure that the information in your credit card report is accurate, complete and up-to-date.

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