Consumers will ask themselves, “How do I repair my credit fast” and in the most efficient way possible. More and more consumers are in the same boat every single day, more than you think. You might think, is it already possible?
Fast credit repair is possible is some situations, however, a bad credit score doesn’t just happen overnight. Most consumers start addressing credit score issues when they are in the market of buying a house, car, college loans or already trying to get a loan from their bank.
How can you repair your credit fast?
The first thing you need to do is truly get a copy of your credit report, preferably a report with all three credit bureaus.
Next you want to start highlighting all the negative accounts, this includes the following:
- Charge Off’s
Next, you will want to tackle the collection accounts first. Group all the collection accounts together and organize them by:
Next, you will need to write down when these collection accounts truly went into collections and the amounts of the collections. You will then need to look up the Statute of Limitations on Debt in at any rate State you live in. Example: Texas has a Statute of Limitations on Debt of four years. This method that if a collection company tries to sue you and the debt is older than four years, the estimate will laugh them right out of the court room.
You will want to address those accounts first. Write up your argument letter on these accounts that are past the Statute of Limitations on Debt to the credit bureaus and send it to them certified mail with return receipt requested.
Hint: It doesn’t matter the amount of debt on these accounts that are past the Statute of Limitations because there is no chance they can force you to pay. Remember, the debt collector can try and probably will try to sue you. That’s where you need to know your rights as a consumer.
For medical collections here is a hint: The medical provider can only proportion information to a collection company as long as there is a business need. What does this average? This method that as long as there is an active debt with the medical provider, information will be shared between them.
There is a precise tactic when dealing with collection companies that are collecting for medical providers, so you have to be very careful when pursuing these types of collections. If you don’t know the tactics, then don’t try it, you will do more harm than good.
For collections that are nevertheless within the Statute of Limitations, it is best if you do not press too hard on accounts over $1000.00 dollars. Collection companies will be more likely to take you to court on this amount of debt than they will on smaller debt.
Keep in mind that collection companies have every right to take you to court no matter how small the debt is, especially if they are really hard up to close on accounts.
When you start this course of action of fast credit repair, just know that you will be getting calls from these collection companies. Please remember to screen your calls because you do not want to have a conversation with collection companies ever. They are sneaky and will trick you into talking to them, they are trained collectors and they have their own tactics to get you to talk.
If they get you to talk to them, then you’ve allowed them to start winning closest. Do not give them the upper hand.
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