How to repair your credit and improve your credit score

Credit Repair and Credit Scores

How To Improve Your Credit Score To Qualify For Home Loan

Many people want to know the fastest way to repair your credit and improve your credit score.  Repairing your credit and improving your credit scores can be done but it takes time.  Getting bad credit can be done literally overnight.  However,  to repair your credit and improve your credit score is like making a New Year’s resolution.  You take on your commitment to repair your credit and improve your credit score and you need to be consistent and not get discouraged because it does take time and effort.  It is like going on a diet.  You struggle not to eat your favorite foods and see little to no results and eventually give up.

Do credit repair companies work?

There are thousands of credit repair companies throughout the United States.  The problem I run into is finding a reputable credit repair company.  I am sure there are hundreds of credit repair companies who are reputable and I am always in a search for them.  I have worked with a few credit repair companies that are absolutely outstanding and reputable before.  Unfortunately, the credit repair companies that I have worked with before either sold their business or the owners have changed careers.

Credit Repair Does Work

Credit repair companies main objective is to repair your credit and improve your credit scores.  They use loopholes in the credit rules and regulations to get negative items off your credit reports.  I have seen bankruptcies, foreclosures, judgments, and tax liens get deleted off credit reports.  However, just because the items are deleted does not mean that the bankruptcy, foreclosure, judgment, and tax liens are off your record.  If you are applying for a mortgage loan or any other loan and are asked a question concerning whether or not you had a previous bankrutpcy, foreclosure, judgment or tax liens, you must tell the truth.  In the event if you have an actual judgment and state you do not have a judgment on a mortgage application because it is not on your credit report, you are committing fraud and I strongly do not recommend that you lie.  Deleting those derogatory information is great because it increases your credit scores and cleans up your credit report.

Why repair your credit and improve your credit score

If you intend on purchasing a home or an automobile in the near future, you will need a fairly clean credit report and somewhat of a descent credit score.  The cleaner your credit report and higher your credit scores are, the better chances for your to get a mortgage approval or loan approval.  The cleaner your credit report and higher your credit scores are, the better the interest rate you will get.

Tips On How To Improve Your Credit Score

We will be discussing more on how to repair your credit and improve your credit score in future blogs.  The first step you need to take is to monitor your credit report regularly and make sure there are no errors in your credit reports.  There are three credit reporting agencies; Transunion, Experian, and Equifax.  If you see any errors in your credit report, you need to write a dispute letter to each of the three credit reporting agencies.  Each of the three credit reporting agencies have 30 days from receiving your letter to respond to your credit dispute.  The credit reporting agency contacts the creditor who is reporting you and that creditor needs to confirm that the debt they are reporting is valid.  If the creditor does not respond to the credit reporting agency within the 30 days, the credit reporting agency needs to delete the disputed item or they are in violation of the Federal Credit Reporting Act (FCRA).

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The information contained on Gustan Cho Associates website is for informational purposes only and is not an advertisement for products offered by The Gustan Cho Team @ Gustan Cho Associates or its affiliates. The views and opinions expressed herein are those of the author and/or guest writers of Gustan Cho Associates Mortgage & Real Estate Information Resource Center website and do not reflect the policy of Gustan Cho Associates Lenders Network, its officers, subsidiaries, parent, or affiliates.

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