Ways To Boost Your Credit Rating Fast – Part 2

Pay the balances on all credit cards as soon as you can to start the credit repair process. First, pay down your credit card balances, starting with the highest interest. Doing so shows your lenders that you are responsible.

This is to keep your credit in good standing. Every late credit card payment can damage your credit score.

Read every credit cart statement you receive in full. Errors are not as rare as you might think. Double-check every charge, to make sure that everything is accurate and you were only charged once for your purchases. The responsibility lies with you to verify that each charge is accurate.

To increase your credit score lower the amount owed on revolving accounts. Your credit score can be raised if you lower your balances. When balances reach anywhere from 20-100% of your available credit balances (in 20% intervals), the FICO system will make a note.

The worst part of a credit crisis may be the collection agencies. You can use a cease and desist letter to stop any harassment from collection agencies. This will stop the calls from collection agencies, but that doesn’t mean consumers can keep ignoring the debt.

Devise a repayment plan that will satisfy your collection account and any other accounts that are in arrears. Your debt will show up as paid once you have taken care of it.

It is illegal for companies to threaten you during collections. Take a written account of it to pursue action against them. Laws which protect debtors exist, and it’s vital that you understand them.

If you find false negatives on your credit report, contest them immediately, and save all resulting correspondence from the credit bureau. Hang on to proof of every contact that you have with the credit bureaus and creditors, such as printed copies of letters and emails, or written summaries of phone calls. You should certify or notarize your dispute letter when you are mailing them, in order to create proof that it was recieved.

If you are trying to repair your credit, it is vitally important that you make at least the minimum payments on all your cards every month. The credit bureaus are notified whenever a payment is missed or late, and this does not look good on your credit report. You’ll be seen as responsible if you always at least pay the minimum amount due.

If your low credit score has been a source of frustration and discouragement, implement this advice to change all that. These tips are a parachute for your plummeting credit score.

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