Listed below are the best five strategies to rebuild your credit. This includes building credit and removing negative listings on your credit report.
1. Building Credit
One of the easiest ways to build credit. Is paying your monthly bills on time, every month. The is going to start creating a trail of positive payment history on your credit report. It also shows you are now acting in a more creditworthy fashion.
2. Get New Credit Accounts
You may want to get a new account that reports to the credit bureaus. It is essential that you use this account responsibly in order to build good credit. If you use irresponsibly. Instead, it will create more bad credit. An unsecured revolving credit line is one of the best ways to build credit.
Many people will get a credit card for rebuilding credit. You can also use an installment loan to help accomplish this.
3. Dealing With Debt Collectors
It can be overwhelming trying to sort out old debts. If you are currently suffering from collection agencies and their all too frequent harassing tactics. You can get credit repair help from a professional at reasonable prices.
Often you can negotiate with a collection agency to pay less than the total amount. In exchange for your payment. You must get them to agree to delete bad credit about your account.
Before negotiating a settlement, we encourage you to get validation on your debt. This can potentially wipe away an old debt. And relieve you of legal responsibility for repayment.
You do have consumer rights. If a collection agency violates your rights. They can be sued and found liable for up to $1,000. For more about your rights and the rules that regulate collection agencies check out the Fair Debt Collection Practices Act.
4. Check Your Credit Report
The Fair Credit Reporting Act entitles you to a free copy of all three of your credit reports, every year. Take advantage of this law and make sure all three of your free credit reports contain accurate information.
Research has shown that 79% of all credit reports contain an error. This error on your credit report could be significantly damaging your credit score.
5. Remove Questionable Information From Your Credit Report
If you have bad credit listings on your credit report. It will not matter how much credit you build. The bad credit items will keep your credit score relatively low. It is these negative listings that damage your credit worthiness.
Did you know it is your federal right to dispute any listing on your credit report? As long as you believe the listing is questionable, incorrect, or an error. You can file a credit dispute directly with the credit bureaus to remove incorrect listings on your credit report.
We encourage our members to consider professional help fixing credit. Because in 2016 alone, over 9 million negative items were removed from consumer’s credit reports.
One of the best firms is The Credit Pros. They’ve helped client’s successfully remove late payments, collections, charge offs, judgements, liens, and many more negative credit report items.
Get a free credit consultation with a certified FICO professional by calling toll-free 1-877-418-7596. And for more tips, techniques, and strategies on how to repair credit score with Dan Willis, sign up for our free newsletter and join our congregation.
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