2007-01-02 11:52:52 · 9 answers · asked by Truthseeker42 1 in Business & Finance ➔ Personal Finance
1. Challenge the validity of every negative record on your credit report. (all three credit reporting agencies)
2. Pay existing lines of credit on time.
3. Get additional lines of credit (unsecured if possible, secured if required) from places that report payment history to all three credit reporting agencies.
4. Pay all lines of credit on time.
5. Pay more than the minimum amount due.
6. After making payments for 6 months... pay off the debt.
7. Open new lines of credit, pay on time, pay off after making payments for 6 months
8. Boost your earning power, and increase your income.
2007-01-02 12:05:02 · answer #1 · answered by davidcolyer 2 · 0⤊ 0⤋
There are lots of ways to accomplish what you want but only 1 best way. If you have lots of time and persistence, you can take a stab at it yourself. I believe, however, that your credit is at least on the same level of importance as taxes (which most people have professionally completed). I know of a non-profit company that does all the leg work for you and hopes to improve your score 90 points in 90 days. Check out the credit repair link at www.totaldebtsolutionsllc.com
2007-01-03 08:29:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The quickest way is with a time machine however what you need to do is concentrate on keeping your current debts current. If everything is current over the next 6, 9, 12 or whatever months your credit score will increase. Your score will also increase as your debt to available credit lowers. DO NOT cancel credit cards. You don't have to use them but don't cancel them. Pay more than the minimums whenever possible and as one debt is paid make sure to pay that amount to the next debt. It's okay to go in order of lowest balance to highest balance so you see progress or you can go from highest interest rate down to lowest... just do it. It's going to take time but you can bail out of debt. It won't hurt to ask your credit card companies to lower your interest and ask for supervisors if need be. It took time for your credit rating to decrease so it'll take time to increase as well. Make up your mind to set and follow a logical plan of action. Get copies of your credit reports (Transunion, Equifax and Experian) to check for errors and challenge things that may not be accurate. They do make ALOT of mistakes in recording information.
2007-01-02 12:16:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Lowering your credit cards balances; the credit bureau recommends that an individual should have credit balances up to 35% of the total line of credit for a healthy credit score.
2007-01-02 12:28:16 · answer #4 · answered by azlyncita 1 · 0⤊ 0⤋
Because I am a truth seeking one, I hope you keep the faith.
Having such a prominent nickname is solid truth in itself. In
this answer I hope to impress you with a possibility. What I
did when I was a student, albeit with good credentials at 523
was to join club memberships at Olympix, koolaid, and also
osco. My very next month saw 210 more points. With a full
20,000 employees since added on my own payroll I only got
another 30 points. These warehouse and spendthrift clubs
show your interest in a healthy dollar. Happy new year 2007.
2007-01-02 12:02:04 · answer #5 · answered by mtvtoni 6 · 0⤊ 0⤋
pay at least the a little more than your minimum on a timely basis and don't be cautious about your debt to credit ratio. If your debt exceeds 30 percent of your total credit ratio, don't use your credit card anymore.
2007-01-02 11:56:03 · answer #6 · answered by muh 3 · 0⤊ 0⤋
Pay down debt (highest interest rate credit cards first)
Suze Orman has a great website to check out as well
2007-01-02 11:58:42 · answer #7 · answered by hartwellm 1 · 0⤊ 0⤋
pay your bills. only time can really heal a credit score.
2007-01-02 11:56:57 · answer #8 · answered by Debt Free! 5 · 0⤊ 0⤋
http://www.choicefinance.net/improve_credit.htm
2007-01-02 12:41:57 · answer #9 · answered by Anonymous · 0⤊ 0⤋