Credit rebuilding with decent income.?

Question

I have a pretty good income. I am also looking to buy a home in the near future. My credit is less than perfect, but can pay off past amounts rather quickly. My question is: if I do this, will it really help my credit, and how long will it take to reflect in my score? I have had difficulty obtaining a credit report due to some errors on it. How do I go about getting and correcting my report. Thank you in advance for any help offered!

Answer 1

To raise your credit score you need to do two things:

1 - add positive things to your credit records.  Such as paying your bills on time!

2 - Remove negative things from your records.  These may be mistakes made by the credit report companies or bills you haven’t paid!

If your problems aren’t too bad or too complicated than you can do this yourself.  This review site gives you e-books to explain the process and guide you through it:

<>http://www.onlinebestinformation.com/cre...

if your problem is complex - or you just don’t have the time or patience to do it yourself then you will want to use a credit repair company.  This review site will guide you to the three best companies to use:

<>http://www.onlinebestinformation.com/cre...

Good Luck!

Answer 2

Moose

You can request your free credit reports from the government approved website that allows you 1 free cr from each credit bureau.  Once you get that then line up the items you want to dispute.  If you have late pays, plan to get them up to date.  However, the fact that you were 30, 60, 90 +late will still be reported.  In order to qualify for an FHA loan, you need to get 12 months of consistent on-time payments on record. Below is info on requesting your free cr and how to dispute items on your cr.

Answer 3

nope

Answer 4

pay off all your past dues after getting a deletion letter. Collection companies are more than willing to remove negative marks off your credit report if you pay them but before you pay a single cent, get a pay for delete letter signed by the collection company on official letter head.

http://www.creditliberty.com/credit-repa...

I hope you are building good credit as we speak. Credit report should not only have any negative marks but also good credit on it. Make sure there are no duplicates on your report. If an account is sold multiple times, only the last entry is valid.

Answer 5

The best way to increase your credit score is to take out a secured small loan for 24 months and pay it back in 12. Make sure they report the secured loans to the credit bureaus before you do it. Also pay off the past late payments asap. Perhaps you can do that with the secure loan.

Answer 6

You should use credit repair agency to fix your credit - for example this one - http://buildcredit.ifastnet.com - They can clean lots of bad stuff from your credit report - and do it much faster than yourself, so your credit will go up fast.

Answer 7

Good on you for seeking out info...try this (or some of it)

There are a few things you can do right away to boost your score - this is a 30-60 day process.

1. Order your credit reports from the 3 bureaus

www.equifax.com

www.experian.com

www.transunion.com

If you're ordering for the first time, get your score (for a fee) from Equifax as their scoring matters most.

2. Make copies of your report and put the originals in a binder. On the photocopied reports use a highlighter and check for any incorrect, outdate, false, etc...info

3. Download a dispute letter(s) from the credit bureaus website and list anything that is wrong. Mail them to their office(s). They have 30 days to reply.

4. If they will not remove something that is not yours or too old (> 7 years) as them for a debt validation. This may take an additional 30 days.

5. Once the 'baddies' come off, take care not to let any of your other accounts fall into that predicament.

6. If you haven't already make sure your existing accounts are current and paid on time ALWAYS.

7. Get a secured credit card with www.capitalone.com or www.mastercard.com for like $500-1000 or more if you can and use it sparingly. Charge like $50 on the card each month and pay it in FULL and on TIME. Make sure you do this for a minimum of 6 months so that you estabish a positive repayment history.

8. Problem with just letting them (collections) 'fall off' is that they may never. You may get sued before that...that's where you suddenly get a summons to appear in court and a judgment for collection against you.

For collection items...pay them but get a 'pay for delete' from the collection agency in WRITING...they'll delete it after you pay and it will help your credit score.