Credit Score Secrets

Credit Score Secrets

• Credit Score Secret #1

Credit is dynamic not static. This means that your credit score changes constantly. With every payment you make-or miss, with every payment you pay early-or late, your credit report score changes. Often an individual with a good credit score may experience temporary problems (like me), but the credit repair agencies know bad credit can come back.

For a fee, I could turn my credit report over to a credit repair company and they would increase my credit score. But when I asked them how they could achieve this, they offered all sorts of double talk that made no sense to me. In fact when the sales people from the credit repair companies finally told me they would dispute all negative credit results, I was baffled. How do you dispute credit reporting facts when they are true? Here is your next Credit Score Secrets.

• Credit Score Secret #2

When you,or your agent disputes an item listed on your credit report, the credit reporting agency (CRA) has to verify the facts and if they are unable to do this or if the credit report information is erroneous, that item must be deleted from your credit report. With one million people currently filing bankruptcy each month and with the onslaught of bad credit, the CRA's are swimming upstream in order to stay on top of all the requests for credit verifications. The Fair Credit Reporting Act (FCRA) stipulates that each request must be completed in a timely manner. This usually means about thirty days. Credit Repair Agencies dispute everything with the hopes that the CRA's will not be able to verify bad credit in time, therefore requiring a deletion. Be like them if you want to know how to fix credit. Dispute everything.

I asked what happens if the onslaught of validations is not successful and the CRA's are able to verify the derogatory credit.  I never got an answer other than the fact that the request would be made again. If I was going to spend upwards to a thousand dollars, I wanted some better guarantee. In fact, I would have been happy with a money back guarantee and I was offered one, but only after deductions were made for work already preformed. To me this wasn't a guarantee and I knew I had to do something else. After looking for more solutions, I decided on a do it yourself credit repair. I would do my own credit report repair and increase my credit scores myself. At least I had  control and with the right approach, I knew I could be successful. Here is your next Credit Score Secret.

• Credit Score Secret #3

If you or your agent continue to dispute credit reporting items on your credit report the CRA's can refuse to validate them and they are allowed under law to deem these attempts to log jam them as "frivolous." Basically, you just lost your money if this happens. But what if these bulk, blanketed disputes are successful? You may get a deletion, but what happens the following month when they are finally validated? My experience is that they reappear on your credit report. More time wasted and more lost money and your credit still sucks.

When I decided to clean up credit report I did so only after finding something that would help me be successful. I wanted control over the process and I also wanted something that would work. I wanted privacy and I didn't want to have to go to an office and spill my guts to a stranger who had no idea how or why I was in the bad credit situation I was in. I wanted to do this on a computer and I wanted to know exactly what would work… and what would not work. No guessing.

How did I get into this bad credit situation?

Why did my credit scores drop nearly 200 points? I wish I could tell you that I was laid off or even fired from a job. I wish I could tell you that a stockbroker ripped me off-stole my fortunes, but I can't. It was just poor planning. I had no idea the real estate market would fall so suddenly. I had no idea that my tenants would stop paying me. I had no idea my buildings and houses would sit vacant because nobody could afford to occupy them.  I had no idea college tuition would nearly double and my kids would have to extend their attendance for another year because of the low availability of classes.

I had no idea my wife would be diagnosed with breast cancer.

Yeah, breast cancer was the icing on the cake. Something like that just takes the wind out of your sails. I just didn't care about credit scores any longer. But like everything else in life, we must go on. I learned a lot about life. You can too by reading how to raise credit score but Don't let a credit score define you.

I used the AVAIL Credit Coach to improve my credit scores and to get out of debt. It only cost $199 and I was able to do everything I wanted to do. In fact, I raised my credit scores 215 points in 90 days. Here is the screen shot of this below.

• What if you could know exactly how much money to pay each month in order to raise your credit score?

• What if you could dispute credit reporting errors with the click of a button?

• What if you could protect yourself from identity theft by having 24-7 access to your credit report?

• What if you had a custom built debt elimination plan-just for you?

• When you watch this video you will wonder where you've been all these years!

The Avail program has been a great tool for me.  I had discovered that my credit score had dropped for no apparent reason.  I was able to quickly find out the reason.  Without the Avail program I would not have known how to investigate and dispute my credit accounts.

When I signed up for AVAIL Credit Coach I knew this was perfect

I knew right away that this sophisticated computer program was exactly what I was looking for. Immediately, I received a link to log on to a secure server and then a link to change my password. Avail is concerned with security and now I could make sure my password was protected. After logging on, I could immediately see my scores from each CRA. Transunion, Equifax and Experian had different scores because as you will learn, credit reporting agencies don't all get the same information. You can read more about how credit is figured and you also learn this is better for you and your chances at improving credit scores.

Most people have no idea about reporting errors-dispute credit errors yourself

Reporting errors are the easiest credit fix. Most of these credit reporting errors are glaring and AVAIL Credit Coach will spot them and point these reporting errors out for you. AVAIL Credit Coach also tells you how many points you can gain by fixing credit errors. And the best part is that with the click of a button you can generate a dispute letter and print the dispute letter. Avail Credit Coach knows who to address the letter to and exactly what to say.

All you have to do is print, sign and mail it. You don't have to write dispute letter yourself. Send it certified-return receipt.I had four errors-one was an account that wasn't mine. One was a credit card account that I signed on, but wasn't responsible for and two were older than seven years. Avail Credit Coach figured I could gain 37 points by getting these deletions, which I did.

It's your credit report. Pay extra on your accounts-but which ones?

I had some extra money and was wondering which credit card account I should pay down. Avail Credit Coach has a "what if' module to tell me how many points I would gain by paying down certain accounts. It's part of the debt elimination scenario you are provided and I was able to play around with this to see what fit best for my budget. I discovered that by paying down my Home Depot credit card just $28 more per month, I could gain 13 points on my FICO score. I did this.

So far a 50 point gain and it was so easy…

Avail is a program that is user friendly and with the help of the coaches they provide, my accounts are reviewed on a regular basis.  Thank you Avail, and of course to you.

Are you looking for new credit?

Are you concerned about identity theft?

Do you know how to dispute reporting errors?

Do you want to establish credit after bankruptcy?

Do you know exactly how to improve your credit score?

After disputing these reporting errors, I made a deal

I called every credit card company my wife and I were dealing with and told them I wanted to pay them, but it would take some time. A couple offered a cash deal to close out the debt before it went into collection, but I knew if I could buy some time, I could get them to go lower. Until I was offerd this option, I gave no thought to settling my credit card debts for less than I owed.

Credit card companies are regulated and they can only carry bad debt for about four months before having to charge the debt off, which means they have to turn the uncollected debt over to a collection agency. These collection agencies typically buy credit card debt at a discount-sometimes as little as…ready for this? Ten cents on the dollar. That means a ten thousand dollar debt is often purchased for s little as one thousand dollars.

Credit Score Secret #4

You really don't want to go into collection if you can help it. Remember the magic four month date. If the credit card company doesn't call you before that date, call them. Offer them twenty cents on the dollar and have your story ready. They'll start at 50%. If you get someone on the telephone and you can't feel that connection, hang up and call back. Once you have the right vibe with the credit card representative, tell them your story and make a pitch. The longer you wait toward the four months, the better your chances. Now it becomes a negotiating game. Try to stay neutral. Leave your emotions at the door and don't worry if you don't have any money to pay them. Not yet anyway.

Credit Score Secret #5I really thought I was going to need some money to pay off my credit card debt, but I was shocked when every credit card company gave me 90 days to pay. With a $50 immediate payment, I divided the remaining negotiated settlement into three payments and there was no interest and no fees for doing this. I offered to pay all at once if they would reduce my credit card settlement by another thousand dollars, but I was told that it didn't matter. 90 days-same as cash. Yippee! Remember though, once the debt is sold to a collection agency, you are screwed. It's too late to make a deal with the credit card people.

AVAIL Credit Coach saved me and got me started

Some of the credit card accounts I negotiated a settlement with were old accounts. My credit limits were $30-40 thousand dollars per credit card and my wife and I have had these open and successful accounts for nearly twenty years. Imagine the shock when we stopped paying. It was also depressing for us because we've never before stopped paying debt . Like most people, credit defined us. We are part of the culture where credit reflects us as people and our honor rests on this premise.

Is it honorable to charge huge late fees and jack interest rates up to 29%

Like us, you're going to have to come to grips with the fact that you are not your credit score. Does a number define you? Read why everybody's wrong about credit scores and see if you agree that we live in a different culture. If a credit card company can raise rates on a 20 year customer  from 8% to 29% just because they're looking for ways to increase income then something is wrong. People will fight back and people will respond the way we did. More and more people will stop paying their bills and will choose to live with the consequences, which really aren't so bad.

Credit Score Secret #6

Your credit report score will change daily and a 750 score will not mean the same as it did ten years ago. If the average credit score goes down because of a bad economy and huge job losses, creditors and banks have to make adjustments. And if they want to survive they will make these changes. Don't forget that creditors need you as much as you need them. If banks cannot lend, they cannot make money. Right now they are focused on depositor relationships where they can charge $33 overdraft fees. But they can't survive on deposits alone and will soon begin to loan money. The question remains…who will be in line?