1-Open New Accounts Now

One of the best tips is the importance of opening new accounts now, rather than waiting until your credit report is all cleaned up. New accounts show that you are capable of getting back in the game and will have a great impact on your score. Secured cards are a perfect credit repair tool.

2-Reduce Your Credit Card Balances

You have heard it a million times, but it bears repeating. All of the legitimate credit repair services stress the importance of watching your credit card balances. Keep them well below the limit!

3-Add an Authorized User Account

An easy way to get a new credit card along with an instant bump in your FICO scores, adding an authorized user account is simple. Call mom or dad and ask them to add you to one of their perfect, low balance credit cards. In fact, they do not even have to give you a card for you to get the score benefit. This is not a replacement for opening your own cards, but it is a quick way to get credit repair traction.

4-Check Your Statutes of Limitation

If you are confronted by a collector, the first thing that any of the good credit repair services will suggest is to check your statute of limitation, or SOL. If the SOL is over, the collector has no legal leverage. They could try to sue you but if you raise the SOL defense they will have no case. Check your SOL and you may be excited to find that you have nothing to fear.

5-Negotiate Collections

The economy is rough. Most good credit repair services agree that now is a great opportunity to negotiate with collectors. Everyone is hungry, and here are some guidelines that can help you capitalize on the opportunity. Make your offer on the last Friday of a month. And make your offer as tempting as possible by figuring out how to get your settlement money to the collector instantly. Let them know that you are ready to push the money button.

6-Dispute Redundant Collections

It is a funny thing about credit reports. The majority of collections on all credit reports should not be reporting at all. That is right. By law, when a collector sells a debt to another collector they should remove their account at once so you are not double-hit. This little tidbit is often ignored and the result is a whole lot of bogus collections. Review your reports!

 

Leslie Green - (225) 202-7935 - Leslie@PatWattam.com

Leslier GreenPat Wattam Five Star Team