Fast Credit Repair!
Is your credit score so low that it is standing in the way of you achieving your goals and dreams? If so, it is probably time you start down the path towards credit restoration. If you are like most people, when you think of credit repair, what you really are looking for is fast credit repair!
Fast is a Relative Term!
Unfortunately, when it comes to credit the reality is that nothing is fast. Yes, there are strategies that you can use to accelerate the process. And certainly some strategies work much faster than others. If your credit is seriously damaged, it is going to take you some time to get it back on track. You should count on it taking at least a year are two.
Strategies You Can Try!
The best way to accelerate the credit repair process is to develop a comprehensive plan. This plan should use multiple strategies to improve your credit score.
There are many ways that you can improve your credit score. If you have revolving debt and have the ability to pay it off, you should expect to see a big boost in your credit score. If you have collection accounts that you can afford to pay off in full, the best thing to do is to arrange a pay for delete. This is where the creditor agrees to delete the account from your credit file completely in exchange for a payment in full. (Just make sure that you arrange this prior to making a payment or you will lose your leverage!)
Also, if you have a family member with great credit and you can get them to add you as an authorized user to one of their existing accounts, this is a great way to establish new credit without actually having to get into debt or spend money. Of course, there are always the traditional methods of reestablishing credit history like getting a secured credit card or a CD loan from your bank.
You should always include disputing with the credit bureaus in your credit restoration plan. Although technology has made it much more difficult to get legitimate derogatory accounts removed, this is still a strategy that is worth your time. Once you have exhausted the dispute process, you should consider moving on to techniques like debt validation and the 623 method. Both of these are powerful strategies to help you improve your credit score.
Fast is a Relative Term!
Unfortunately, when it comes to credit the reality is that nothing is fast. Yes, there are strategies that you can use to accelerate the process. And certainly some strategies work much faster than others. If your credit is seriously damaged, it is going to take you some time to get it back on track. You should count on it taking at least a year are two.
Strategies You Can Try!
The best way to accelerate the credit repair process is to develop a comprehensive plan. This plan should use multiple strategies to improve your credit score.
There are many ways that you can improve your credit score. If you have revolving debt and have the ability to pay it off, you should expect to see a big boost in your credit score. If you have collection accounts that you can afford to pay off in full, the best thing to do is to arrange a pay for delete. This is where the creditor agrees to delete the account from your credit file completely in exchange for a payment in full. (Just make sure that you arrange this prior to making a payment or you will lose your leverage!)
Also, if you have a family member with great credit and you can get them to add you as an authorized user to one of their existing accounts, this is a great way to establish new credit without actually having to get into debt or spend money. Of course, there are always the traditional methods of reestablishing credit history like getting a secured credit card or a CD loan from your bank.
You should always include disputing with the credit bureaus in your credit restoration plan. Although technology has made it much more difficult to get legitimate derogatory accounts removed, this is still a strategy that is worth your time. Once you have exhausted the dispute process, you should consider moving on to techniques like debt validation and the 623 method. Both of these are powerful strategies to help you improve your credit score.
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