Business & Finance Credit

Fast Credit Repair - How To Raise Your Credit Score In 30 Days

If you are planning to apply for a loan, it would be a good idea to check your credit score and review your credit report.
Lenders base their decisions regarding your creditworthiness on your credit score.
This being so, you need to ensure that your score is based on accurate information.
By taking some simple steps, you stand to raise your credit score in as little as 30 days.
Go over all the negative information on your credit report.
The negative items would fall under any of the following categories: Repossession; Foreclosure; Write-off; Charge-off; Settled; Included in bankruptcy; Collection amounts; Court accounts such as liens, judgments, divorce, bankruptcy chapters 11, 7, or 13; Late payments; Inquiries.
Highlight any negative information that you know are inaccurate or misleading.
Some common errors include duplicate charges, accounts that belong to another person, or wrong balances.
Write a dispute letter to the credit bureaus concerning the inaccurate information.
You have to identify the specific erroneous information, the reason why you believe the information is inaccurate, and what you want the credit bureau to do regarding the error.
You may, for instance, ask them to delete or correct the error on your credit report.
You need to enclose copies of documentation supporting your dispute, as well as a copy of your credit report with the highlighted inaccurate information.
The credit bureaus are legally obligated to investigate your dispute within 30 days.
So, then, you may expect a response from them regarding the matter within that time frame as long as you have clearly communicated the necessary information and provided them with the documentation supporting your dispute.
Aside from taking steps to correct inaccurate information on your credit reports, there are other steps you can take that can improve your credit score within a month's time.
One of the things that affect the calculation of your credit score is your debt to credit ratio, that is, the total amount of your debts divided by your total credit limits.
If you pay off some of your credit card balances, you would lower your credit utilization ratio.
The ideal ratio is just about a third of your total credit limit.
Knowing this, avoid using up your entire credit limit.
The restraint you demonstrate in your purchases would give a substantial boost to your credit score.
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