Repair Credit Solutions

Credit Repair Solutions that can make a difference in your FICO score!

What is a FICO score and how to use dispute forms and phone calls to help repair your credit.

Some easy and immediate steps like correcting errors and removing inquiries can make a difference of 20 - 40 points on improving your score almost overnight!

Sometimes the Solution to Repair Credit can be a simple step or two. Sometimes the best solution may be to start with the simple things and work your way through a list of what needs to be done.

You need to start with a copy of your credit report from each agency (there are 3) and also get your 3 scores. The correct scores may cost you a little money to order.

Credit Score Impact on credit Repair

What is a "FICO" score? Are there other "scores" and are they important?

Each credit agency may assign you a credit score based on their own model but the mortgage lending community only uses the true FICO score which was created by myFICO®. This score for mortgage lending purposes is the most accurate.

However, when you apply for a car loan or a credit card the credit may be approved or disapproved based on the score provided by the reporting agency that the creditor prefers to use.

FICO applies the same rules to all accounts across the three reporting agencies, but each agency has a somewhat different model for their own calculation.

Also, the three reporting agencies DO NOT report to each other!

Inquiries Run Wild - how this can affect your credit

Have you ever looked at your credit report after applying for a car loan? It's a real shock. A dealer can (and usually will) submit your credit application to sometimes 10 or even more places he can get you credit approval I once saw 16 inquiries in just 2 days when someone was shopping for a car!

If your credit is not steller, this is how they will try to get you approved. And, then you may not even like the rate.

These are "hard" inquiries on your credit report and usually credit repair cannot get them removed. No, you didn't know the dealer was doing it, but it still happened and you are left with the results.

Your FICO score is dropped a point or two for each inquiry of this kind!

Credit Dispute Forms for credit repair

What are they and how do they work?

There are many sources for credit dispute forms. Some of them are free and some come with some of the books available or other e-book products.

The good thing about formal dispute forms is they usually tell you what to put in the form and what you should say in order to open a dispute with a credit agency.

The down side can be that the dispute forms all look almost alike and many times the clerk at the credit agency gets so many a day they just put them in a stack to get around to later. This even includes some of the disputes coming in from a law office on their letter head. Even they don't get preferential treatment.

What can make credit repair Dispute Forms better?

From my sources and some research it seems that a credit dispute letter that looks more like it actually came from a real person is more likely to get earlier attention.

However, how many times can you write these by hand or even type them on your computer. Then you really need to keep track.

A really good, creative automated system can solve this problem and track your letters and when they were sent and to who.

How About Doing It The Easy Way

Years ago when I had to do my own credit repair I would have given almost anything to make the process easier. I also had to advise both my daughters on how to do theirs after they graduated from college. They both, each at different times had messed up some things. As I walked them through the process, they both felt the same frustration I did.

Questions like "how long will this take?" "why haven't they gotten back to me?" "What Do I Do Now, Mom???"

We would all have loved to just forget it but we muddled through. They each eventually bought houses of their own, qualified for some good cards -- and thanked me.

We would all have loved to have an automated system to help us out. Don't do it the old fashioned way. Give yourself a break!

How About Doing It The Easy Way

Years ago when I had to do my own credit repair I would have given almost anything to make the process easier. I also had to advise both my daughters on how to do theirs after they graduated from college. They both, each at different times had messed up some things. As I walked them through the process, they both felt the same frustration I did.

Questions like "how long will this take?" "why haven't they gotten back to me?" "What Do I Do Now, Mom???"

We would all have loved to just forget it but we muddled through. They each eventually bought houses of their own, qualified for some good cards -- and thanked me.

We would all have loved to have an automated system to help us out. Don't do it the old fashioned way. Give yourself a break!

How the telephone can make a difference in your credit score!

DON'T CONSOLIDATE - ELIMINATE, NEGOTIATE OR ELIMINATE

One of the things the the credit agency uses to build your FICO score is your balance limit and how much of the line you have used.

If you phone your credit card company on a credit card that is in fairly good standing (no recent lates) and request an increase in your credit limit, you will see a difference in you score after about 30 days or so.

The reason this happens is because if you have used more than half of your credit on that card, the agency counts that as a negative. By increasing your limit you can get the balance well under 1/2 that is good points for you! If you get your usage down to 1/3 it's even better!