what is a fast way to repair my credit?
i messed up with paying back my credit cards, now i would love to repair my credit, how can i?
Public Comments
- There is no such thing as legitimate credit repair. I quote from the 2007 edition of the Consumer Action Handbook "There are a lot of credit repair companies that are advertising that they can erase bad credit for a fee. Don't believe them". The only things that can be removed from your credit report are things that are not true. What you can do is start rebuilding your credit by paying your bills on time every month and making sure that your balances are below 30% of your credit limit every month. It takes several years to establish good credit and only a couple of months to destroy it.
- a debt consolidation loan to payoff some of your credit cards is a quick way to raise your credit score
- the quick way? Pay your debst off ASAP! The realistic way? consolidate the debts and get on a payment plan with an outside company or work with your creditors to have your debt reduced (it's amazing how credit card companies can erase 60% of what you owe if you just agree to pay them) and work out a payment plan with them........the last two choices will cause your score to go down but not as much as not paying them. You also need to have some open lines of credit that are paid off or just kept open to be open these help balance out your credit score..........Hope this helps .
- Check to see if there is a credit counseling agency where you live - they can be very helpful and free in some cases. If there were extenuating circumstances with the cards and you can prove this contact the companies involved and try to work something out be VERY firm about this.
- The only way to rectify a poor credit rating is to adopt sound credit practices for a period of time. Pay your credit cards and loans on time and your score will increase over time.
- Just Try: http://www.topamericanmortgage.com/bad_credit_refinancing_mortgage.asp http://www.proloanz.com/
- There is a good free ebook on this page. Lots of info.
* Some answers may have been provided by Yahoo! Answers.