The main goal if you have a low credit score should be to rebuild your credit profile. This can be done using the same ways as discussed on the page for building credit. By having new accounts with solid payment histories and credit repair letters, your credit score will go up over a few months.
Opening secured loan accounts at banks/credit unions and with credit cards company will be the start. We must stress that maintaining payments on these new accounts is a necessity. If you miss payments on these accounts, all is lost with regard to building your repairing your credit.
The other factor that is necessary and just as important to opening new accounts is the elimination of negative accounts. By law, the credit rating agencies must remove any accounts on your record within 90 days if they are not verified by the creditors. To make a long process simple, read and follow these steps.
1. Go to Google and search for “credit repair letters”. This will give you a list of template letters for credit repair.
2. Use the letter and insert your information where applicable. List any accounts that have a late payment or negative info onto the letter.
3. Send via USPS certified mail with return receipt a letter addressed to each of the 3 credit agencies.
4. Wait, first you will receive the receipts back signed, file that away. About a month later, a letter from each of the credit rating agencies indicating that they’re starting a investigation into
your matter will arrive. Finally, new credit report with any corrections and verifications will arrive. Most likely you will have some negative accounts deleted because the creditor failed to send in a verification.
5. Celebrate because you’re on your way to a 700 credit score.
This method has been use many times before. The writer of this article has used this on her husband credit and was able to bring his credit from 540 to 720 in 6 months. We hope you will achieve the same level of success. As always we welcome your comments.
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