Can Your Credit Report Use Some Tweaking?
Credit repair is the process of using tools and techniques to alleviate bad credit caused by debt. The process of credit repair can sometimes be difficult and very long, depending on how badly the credit is damaged. The advice provided in this article should make the credit repair process easier.
When you need to repair your credit, make sure you keep using some credit. That is, don’t let your credit status go inactive because you aren’t making any payments on anything. To re-establish your credit you need to keep making payments on time, which will change your credit rating faster than not making payments at all.
If your personal or financial data has been compromised by identity theft or malicious criminal activity, consider paying the relatively inexpensive amount for a good credit monitoring service. A credit monitoring company will quickly alert you to any suspicious activity or use of your private financial data that appears to be malignant.
When trying to get your credit back in order you may deal with some not-so-friendly bill collectors. Be prepared to use the same tactics with them that they will use with you. Purchase a cheap recording device and ask the collector if you have their permission to record the conversation for reference. Even the nastiest collectors will soften and change their tune if they know their words may come back to haunt them.
If collection agencies won’t work with you, shut them up with a validation letter. When a third-party collection agency buys your debt, they are required to send you a letter stating such. If you send a validation letter, the collection agency can’t contact you again until they send proof that you owe the debt. Many collection agencies won’t bother with this. If they don’t provide this proof and contact you anyway, you can sue them under the FDCPA.
If you have poor credit, you may want to consider co-signing for loans. If you can find a co-signer with good credit, you may be able to get much better rates on loans that you otherwise wouldn’t. Keep in mind though, that your co-signers credit can not be affected so make sure to be responsible.
Don’t allow setbacks to set you back in your efforts at credit repair. If you encounter issues or find that your credit repair efforts are stalled for some reason, take the time to understand what is going on and rectify it accordingly to ensure that you aren’t letting your efforts go unaddressed.
Report good information to credit repot agencies to help increase your score. If you have a job that is not listed, have it added to show job stability and increased income. If you owe taxes and have paid them on time, have that information added as well, to show that you do have the ability to pay debts.
In conclusion, credit repair involves using tools and techniques to get rid of bad credit from debt. Credit repair can be difficult and take a long time to get a good credit score. Using the advice from this article, you can make your process faster and easier and be on good credit.