Fix Credit Report – Repair Boost Score Ratings

Jennifer Thorson asked:


I want to buy a home and even though I have the money for down payment and income required I repeatedly get turned down due to bad credit. I was wondering how to improve my credit score. Is filing bankruptcy a good idea since I do have allot of high dollar amounts on my credit report? What about civil penalties does bankruptcy erase those?

Nellie

Axel asked:


I have 6 items that are negative on my credit report with 3 scheduled to fall off within 2 years. All the negatives are paid off and the only debt I have is a student loan and a secured credit card that I pay off every month. My credit score just jumped 20 points since I got the card a month ago. I’m really trying to fix my credit. I’ve been talking to a credit advisor and he says I’m on the right track. My score is around 600 and rising. Is it possible that I might be approved for a mortgage in 5 years once I’m out of college and have been teaching for that long?

Clarence

williedtomlin asked:

Ways to boost credit when one has less than stellar credit.

Ann

Ray Pierce asked:




I know some people out there are doing everything they can to repair a previously bad credit score. They have started paying all their bills on time, paid off all their credit cards, and have started living a better life financially.

But sometimes, you do everything right like you are supposed to, and it just is not enough. For those people who really want a stellar credit score, here is one neat trick you can do to boost your credit score.

Essentially, when you have a credit card, the credit company reports your balance to the credit agencies at the end of each month. When you pay your balance off in full at the end of each month, the credit card agency gets a report that actually comes before you have paid off your balance in full each month.

What this means is that in a nutshell, the credit agency gets a report that makes the amount of debt you have look higher than it actually is. What you can do then to fix this problem is pay your bills off in full before the end of the month. This way, the credit card agency gets a report that is closer to what your actual debt is.

How you would go about doing this is to look at your outstanding balance online before you are about to be billed. Then, you just simply pay off the balance before the end of the month. After doing this for awhile, you will definitely see in increase in your credit score.

Javier

psygamer asked:


Hi i just checked my credit report and it says my score is bad because i owe verizon 500.00 if i pay them the 500.00 will my credit be okay or good again?

Emma

Tony Banks asked:




Your Equifax credit score is probably the most popular of the three main credit bureaus. The other two are Transunion and Experian. Some lenders look at all three scores when making a decision to approve you for a loan but working on one score usually affects the others as well.

The strategy to boost your Equifax score will depend on the current state of your credit report. If your credit report has a few recent negative items such as charge-offs and collection accounts you want to challenge these items with the credit bureaus to have them deleted from your reports.

The more recent a negative is on your report, the more damage it will do to your scores. If a challenge is unsuccessful you can take another approach. This would be to deal directly with the creditor or collection agency. Just about all collection agencies have one main purpose which is to get paid.

Third party collection agencies usually buy the debt from the original creditor at a fraction of what the original price which means that you can negotiate a lesser amount to pay them to settle the debt. REMEMBER that you are doing this to boost your credit scores so in exchange for coming to an agreement with them you will ask them to delete their entry on your credit report.

On the other hand, if you have a fairly okay credit score and you want to boost it, your approach would be to strength the credit that you already have which can be done by paying down high balances on your credit cards as well as opening a new credit account to add to your available credit IF you don’t already have too many credit cards or revolving accounts.

Clyde

JayRust asked:


Hi. My wife use to have a credit card with Express (The clothing store). She accidently missed a payment and a fee was accessed. She called them up to say that she would like to pay the balance in full and close the account, and that it would be appreciated if they could remove the fee. They agreed to remove the fee and she paid the balance. What they did not tell her was that they were calling this a settlement!!! This has hurt her credit severely. When she called them to ask to have it fixed, the refused…even when she offered to pay the fee that they took off. How can she get this blemish removed from her credit? How does she fight this? Thank you very much in advance.

Danny

KeithW asked:


Ho do I fix the 3 years of past due charges that were discharged prior.

Martha

Wondering Soul asked:


Like a lot of people when I turned 18 I got credit cards (problem) Long story short 2 years ago I paid off ALL of the debt that was on my credit report. my problem is my credit score is worse than it was before. I can not get a new card to make it better. I need help trying to figure out what to do now. Please do not say pay bills on time, I do that. All debt is paid, Still no change at all that is positive. What now? Also, I co-signed for my own car (great aunt) and that is not showing up either.

Roberta

trust me asked:


I have been trying to fix my credit in the last few months. I view my credit report on a monthly basis. I receive a call from Arrow financial claiming I owe them 1301.00. I tell them no I do not, I check my report regularly and that its a mistake. I am then transferred to a manager that tells me they acquired an old CC account and the total is $956.00

I do have an account that is 956.00 but I don’t tell him. I keep saying I dont owe anyone 1300.00 dollars, then hang up.

Now a month later on all 3 reports it has Arrow financial 1301.00 orig. first premier 956.00

I know comp. buy debt to collect it and post it in your report, but

HOW CAN THEY ADD $350.00 to a $956 account that was charged off 2 years ago.

Please give me some advice, thank you

Kelly