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Fast Credit Repair: How To Do It

Raising your credit score gives you some level of accomplishment which aids in increasing your self esteem. Raising your credit score also aids in increasing your chances of getting loans from banks.

Due to these benefits, it's paramount that you consider taking measures on how to increase your score. The good thing is that there are a number of ways in which you can raise your score fast:

Negotiate with creditors

Many creditors are willing to help you in raising your credit score if you agree to pay the remaining balance. To increase your score you should approach the creditors and tell them that you are willing to pay the balance if they accept to erase the debt from your report.

Organize your debts

To avoid missing any payment you should organize your debts. To be on the safe side you should place all of your statements in one file and make a notation of your due dates.

In case you make a mistake or you lack money to pay your debt, you should approach your credit card company and ask the company to forgive you for lateness. This is to help you in cleaning up your credit.

Under-use your cards

According to experts, you should not pay everything using your card. To be on the safe side you should ensure that your credit utilization ratio is not more than 30%. When you spend money, you should ensure that you pay back the debt on time.

Don't close your cards

You can't increase your score by closing your cards. To be on the safe side you should keep all the cards working; however, you should use them moderately. For example, you should use them in making petty payments such as paying utility bills.

Pay early

If you have money you should not wait until your due date to make payments. To be on the safe side you should pay within a day or two. This will not only aid in relieving you stress that comes with debts, but it will also aid in increasing your score.

Make use of rapid rescoring

It usually takes time for credit reports to reflect paid off accounts and corrected errors; however, you can increase the rate at which the reports are updated by making use of rapid rescoring. Here you pay a small fee (usually $50) and the accounts will be updated within a number of days.