Tips/ Tricks or simply myths Do you have suggestion on how to improve credit/ score?

Question

I heard if you pay the collection agencies a dollar they cannot report you to the credit bureau, is this true? I heard you should dispute everthing at least once , it just might get deleted. I should ask anyone I pay a bill to to report to the credit bureau if in good standing. I heard not having any inquiries raises your credit score?
Can you talk to someone directly at the credit bureau about your score and possibly rasing it when you have paid off debt? Is your profession figured into your creidt score in any way ex being a doc vs, nurses aid?

Answer 1

About 4 months ago, I pulled all three of my reports and disputed 4 items. One item is still on all 3 reports and another item is only on one report. The rest were deleted. Disputing doesn't hurt anything unless you are seeking credit from a lender in the 30 days it takes to dispute. They may see your disputing as a sign and deny you. However, after 30 days it doesn't show as disputed any longer. It's usually verified to be yours or deleted. Also, if an item is deleted and the creditor later verifies it indeed is yours, it can be put back on your report at anytime.

Your profession isn't figured into your credit score. Lenders can consider your professions when extending credit though.

Your other questions could or couldn't not be myths. I haven't heard any of them before now though.

Answer 2

Collection agencies almost always report to the credit bureaus and they have legal right to do so. And they will report the debt for seven years AFTER the last payment. It is important to not allow things to go to collection, if possible. Some creditors (like doctors) will not report even past due accounts but once it hits collections, it hits the credit bureaus.

Most companies automatically report to the credit bureaus once a month, so your account will show if it is in good standing or not, automatically. If you have paid off or paid down a loan and the lower balance to show faster, you can dispute the balance.

Since most accounts are reported automatically from the creditors systems, even if it is deleted one month, if it is a valid debt, it will show back up the next.

You improve your credit score by paying your bills on time and having a good ratio on the amount of debt that you have. If all of your credit cards are maxed out, your credit scores will be low. Pay your credit cards off.....and then use them....and pay them off again.

I hope this helps.

Answer 3

If you do the right things your credit score can improve in a matter of months. I've got 10 steps you can use to build your credit score. I raised mine to well over 700 points fro 500 using these steps over a year:

# Know and Track Your Credit Score
# Never Miss a Payment, Starting Today
# Never use more than 20% of your Available Credit
# Keep Credit Cards that Have No Annual Fees Open For as Long as Possible
# Extend Your Credit Limit on Cards You Already Have before You Get New Ones
# Get Credit Cards that Have CashBack Rewards to Contribute to your Balance
# Transfer Your Balance to a Credit Card with a Lower Interest Rate and a Higher Available Credit-
# If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan
# Take out a Small Personal Loan and Repay it Over a Year
# Ask Someone With Good Credit if They will Account Shadow you

Read the full article here, it gives you an overview of credit scores, and the 10 steps in detail on page 2:
http://millionster.com/articles/debt/increase-fico-credit-score/

Answer 4

You earn a good credit score through always paying your bills on time. A better paying and dependable job may raise the rating somewhat. As for recovering from a bad score, the only way to do that is to pay all bills on time. You are reported to the credit bureau by the time it gets to the collection agency. As for the $1, only if you make the payments every hour of every day until the bill is settled.

Answer 5

Collection agencies, like ANY creditor will report your account to the credit bureau whether you pay them or not. Paying as agreed looks better than not paying, but BOTH are reported. If you dispute accurate information, even if it is removed, it will reappear the next time the creditor make a monthly update to the credit bureau. Lack of inquiries does NOT increase your score, but excess inquires does reduce your score. The credit bureau computes your score based on information provided by creditors. No one at the credit bureau can change the formula.

Answer 6

There are no tricks and no quick way to do it. Keep lowering your balance by paying on time all the time and pay more than the minimum on the credit cards. When you pay a credit card...the money is paid towards interest first and then the principle. If you only pay the minimum, you are paying mostly interest and very little principle thus not getting too far.

Answer 7

On the myth that if you pay ALL your bills on time that your credit rating (FICO) will rise.

If you always pay your apt RENT on time it WILL NOT raise your FICO Score; but if you are late on your RENT PAYMENTS it WILL Lower your Fico Score

Also the SAME APPLIES to some Utilities

Now if you always pay your HOuse Payment(mortgage payment) that WILL RAISE your Fico score.

WHAT ? ? ? ? ? ? ?

Answer 8

decrease you debt score. Do not try any tricks. You may get in to problem later.

Answer 9

go to www.adviceontime.com and read the article on credit, this will help you out.