Tag Archives: Problem Areas

Improve Your Credit Rating Lightning Fast!

Will J. Irish asked:




Improve your credit rating super fast by following these tips.

Let’s face it, having bad credit can not only be demoralizing, but also in today’s economy, it can also be debilitating. Luckily there are actions you can take to improve your credit rating quickly. The first thing you’ll want to do is order all three of your credit reports. Experian, Equifax and Trans Union all keep a record of your credit reports, and each have their own credit rating methodology. Thanks to a recent change in consumer law, you are now entitled to one free credit report from each of the major three agencies. So let this be your first step.

Go to annualcreditreport.com and follow the directions to obtain instant access to each of your credit reports. Now one recommendation I would suggest for the first time is to include your credit score with each credit bureau as you request your reports. They do charge a nominal fee for it, but it gives you a much needed benchmark in your efforts to increase your credit scores.

Once you’ve reviewed your reports looking for errors, and inconsistencies, here’s the specific trick I use to make the most headway. The trap that most people fall into is that once they order the reports, there is usually 15-18 pages of data which distracts the reader from knowing where to start. Here’s how to avoid that pitfall.

1. Take a highlighter and highlight only the items on the account that are negative.

2. Open a new spreadsheet and import only those accounts from each report. I use one worksheet for each credit bureau.

3. Now close your credit reports and work soley from your spreadsheet as you will now have complete focus on the problem areas of your account, and likely, it will be less than one page of information.

4. With that new focus, now write each of the three credit bureaus a dispute letter which will allow them 30 days to investigate and reply. Be sure to send it return receipt requested so your dispute is not ignored and the 30 day timeline has a time-stamp.

5. If they are unable to validate their negative reporting, by law they must remove it per your request. Much of the success of this process is going to rest in how well written your disputes are, and how timely you follow up with any requests.

Lastly, be very careful. On the Internet there is a lot of bad advice and illegal instruction. It’s important you follow a lawful and methodical approach which has testimonials of other’s success. Make sure the program you decide to follow doesn’t support file segregation, which involves an illegal, but common practice of building a sort of second identity.

You absolutely can improve your credit rating, it just will take a little work up front and wait for about 30 days. In no time you can be enjoying the improved credit rating you deserve.

If you’re in a real bind and need to improve your credit rating immediately, see the links below for details.

Carla