Raising FICO score doesn’t always require extreme financial effort. Contrary to popular beliefs, it doesn’t have to take a long time either. If you happened to end up on the wrong side of the credit scale, don’t despair. There are many ways to raise your credit score. The only requirement is to start thinking outside the credit box.
Here are the 3 major steps that will take you to the desired credit destination faster than you thought possible:
1 Level the playing field.
The majority of people trying to increase their credit score don’t have the proper credit knowledge. In order to beat credit bureaus and collection agencies at their own game, you have to know the rules of the game. Can you win a simple game of chess if you don’t know how to move the king and the pawn across the chessboard? Probably not. The same logic applies to the credit game. Do you know what’s the anatomy of your credit score? Which are the most important factors behind your 3 digit FICO? What are your legal credit rights according to FCRA and FDCPA? How to dispute items and have them removed from your credit report within 48 hours ( Rapid Rescore) strategy? How to dispute separate listings (within a negative item) with original creditors and achieve the deletion of the whole negative account (Dispute 623 Strategy)? How to request validation of debt from collection agencies and credit bureaus with poor documentation practices? How to remove outdated items in your credit file (negative items that were kept longer than 7 years on your report). Credit knowledge will help you level the playing field and outsmart your credit opponents.
2 Don’t put all your eggs in one basket.
When it comes to credit repair, you have to be diverse. Sticking with just one credit strategy will not help you achieve stellar credit. Sometimes your disputes with credit bureaus and original creditors will be dismissed as arbitrary. Your debt will be validated by credit bureaus and original creditors. Your attempts to remove late payments from your record using goodwill letters to your creditor will not produce the desired result. The key is to use a combination of strategies that are tailored to your specific credit situation. This way, if you are defeated on one front, you may be victorious on another.
3 Break out of the mold.
The traditional credit repair emphasizes the importance of paying off your debt in full. The nontraditional credit repair emphasises the importance of the loopholes in the credit system. Paying off your debt in full is not only unnecessary. It can sometimes lower your credit (by updating the account status of the negative item to ‘current’). Using nontraditional methods on the other hand (disputes, negotiation, validation of debt request, pay for delete strategy etc) will bring instant increase in your credit score without stripping you of your hard earned cash.
Raising FICO score is not that hard. Once you start thinking outside the credit box, you’ll be surprised to find how easy credit repair actually is.
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