Can I raise my credit score in a week?

Probably not, your credit problems didn't happen over night, so it stands to reason that they can't be fixed overnight, (or in a week). But if you're willing to do a little research and some work you can certainly improve in 90 days or so.

I love this question. The answer is yes and no. In my opinion no you don't, you can do a better job at repairing your credit than anyone else, all you need is the information on credit repair. Here is an inexpensive program that provides a ton of information on fixing your credit: "Credit Bible Secrets" (sign up for their free "7 Credit Secrets")

Have you ordered your credit report? Remember as of September 1, 2005 every state is required to allow you to one free credit report each year. If you are denied credit for any reason you are entitled a free credit report. Under any other circumstances you will have to order one. If you have ordered your free report, have you looked through to make sure everything is correct?


Don't feel bad if your credit is not stellar. A large percentage of adults have bad credit, or at least not as good as they'd like. Many people with poor credit have just had some unfortunate circumstances happen that put them in this situation. Don't worry though, we've got some great articles with tips and information to help you get out of debt and repair your credit by yourself or with help.

Once you get bad marks on your credit report, it can cause you a great deal of problems; however, there is help and hope for you. Even though you may not have done everything right in the past, you can repair credit scores with a bit of work and time. While your scores will not jump just overnight, over time you can improve them, even if you already have bad credit. So, if you are ready to repair credit scores, the following are some great tips that will help you get on your way to a better credit score.

• Tip #1 - Get a Debt Consolidation Loan - If you are totally overwhelmed with debt and you want to repair credit scores, you may want to consider getting a debt consolidation loan. This is a loan that allows you to pay off your debts and only have one monthly payment to deal with. Many people have found this to be a successful way to get out of debt and get their credit scores back on track again.
  
  
• Tip #2 - Pay More than Minimum Payments - Paying more than just the minimum payment each month can also help you repair credit scores as well. When you just pay the minimum payment, you may be paying on the card forever, but paying more than the minimum can help you pay off the debt faster, which will help to improve your score.
  
  
• Tip #3 - Avoid Credit Inquiries - If you want to repair credit scores, you will want to avoid credit inquires. The more inquires that you have on your report, the lower you score can be. While some inquirers may not be avoided, try to keep them to a minimum if possible.
  
  
• Tip #4 - Dispute Wrong Information on Your Report - Wrong information on your credit report can lower your credit scores, so if you want to repair credit scores you will want to find any wrong information and then dispute it. You will need to send the dispute in writing to the credit reporting agency, and then they will investigate your claim. This can definitely be a huge help to raising your scores.
  
  
• Tip #5 - Get a Secured Credit Card - Sometimes you credit scores can be so low that you do not even qualify for a credit card, but you may be able to get a secured credit card. If so, getting a secured credit card can help you to repair credit scores. Since they report to the reporting agencies, you will begin to get positive marks on your report, which will help to repair and raise your credit score.
  

You will want to look over your copy of the report carefully. One of the easiest ways you can perform credit repair for yourself is to spot any incorrect information on your report. All of the agencies have ways you can go about making corrections to your credit report. Even if the information is just partially incorrect, you should take the time to get the credit repair made. Also, if something just doesn't look right to you, ask the credit agency to give you the name and number of the institution that gave the report that you are not sure about. There is a chance you can work whatever it is out with the company, which can help with your credit repair even more.






Analyze Your Credit Report


When you first receive your Trans Union and Equifax credit reports, you will be totally lost. The information is coded in a way that is not immediately readable by the average consumer. Each credit report should arrive with a key that interprets the codes and indicators on the credit report. Sit down with the credit report and the key and study it until you understand what each number and code means.

Don't write on your original credit report -- yet. Make all of your notes on a copy of the report. You will be sending your original report with your dispute letter, so you should make at least two copies of each new report. The original goes with the dispute, one copy is for notes, and the other copy is what you will send in to the credit agency.

Here is a sample list of things ou should look for:

1. Bankruptcy
   
2. Foreclosure
   
3. Repossession
   
4. Late Payments
   
5. Credit Rejections
   
6. Credit Inquiries
   
7. Loan Default
   
8. Court Judgments
   
9. Collections
   
10. Past due payments
    

Request Removal of Negative Credit Items


Each item on your credit report must be proven or it cannot remain in the report. If the credit bureau cannot verify the item when investigated, it must be removed from your file whether or not it's true. Every negative entry on your report can be denied or challenged at any time. The bureau must reinvestigate and if that item cannot be verified within a "reasonable amount of time", it must be removed from the file. Items when challenged can be mistakenly erased. Consumers say they often experience computer operator mistakes. Many times the creditor does not re-verify in time or the credit bureau is busy and does not handle your dispute properly. It must then be deleted. The older an item, the more difficult re-verification is. It is possible it cannot be verified because records may no longer exist after 1 or 2 years.

Now the yes part of the answer. There are reputable companies that can help you repair your credit. The problem is the cost. Most people that are having credit problems don't have the extra money to pay off their debts let alone pay someone to fix their credit report. Lexington Law - Credit Report Repair is a member of the BBB Online Reliability Program and offers a valuable service if you can afford it.



Is it true all I need to do is challenge negative info on my credit report and they will remove it?


Not exactly, some will tell you to just challenge all the negative items on your credit report and they'll be removed. What this refers to is this, if you challenge negative information on your report, it's the responsibility of who ever place the negative information in your credit file to prove that it's valid.

Now this technique may work with some creditors and not others, it just depends on how well they kept records and whether or not it is worth their time to even mess with it.



How long will negative information on my credit report remain there?


Just about all negative information will remain on your credit report for seven years. Loans backed by the US government and student loans may stay on your credit report longer than seven years. Bankruptcies will normally stay on your credit report for ten years from the date of the last activity, usually the date you received your discharge. If a company request your credit report or credit score those request will normally stay on there for 2 years.



Do I need to use credit to improve my credit score?

In a word Yes, your credit score is determined by how well you manage your credit. If you do not use credit then there is no way to judge how well you manage it.



What can I do to rebuild my credit?

• First and foremost pay your bills on time.
• If you haven't, get a copy of your credit report.
• If you have Bad Credit, apply from a bad credit credit card like the Imagine MasterCard
• If you credit report doesn't show accounts you are paying on time send them a recent account statement.
• Make sure the credit bureaus have you correct residence and employment information
• Acquire a new credit card (carry a small balance on it ($100) and make regular payments)