BAD CREDIT - Posted by SSG

Real Estate Investing Real Estate Financing
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Posted by Kenneth Hocking on June 08, 2007 at 08:16:47:

I have had success with my client using a Credit services here in TX…

E me I will send you there info as not to break the advertising rules here.

I am not associated or compensated from their service to you they just have helped me get more deals done

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BAD CREDIT - Posted by SSG

Posted by SSG on June 08, 2007 at 07:27:12:

I have Bad Credit. Have checked and score is 514. Can anyone tell me how to get this up quick. Have some money saved up where I can pay some of these off or make a few payments on all. But the thing is how can I get this to show up immediately. I payed 1 off yesturday and they said" it will be 30-60 days before reported. Any help would be appreciated.

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Re: BAD CREDIT - Posted by jmac

Posted by jmac on June 08, 2007 at 09:32:19:

I dont know of a quick route to credit repair, but here is a free guide to repairing your credit and info on how to get free credit reports.

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Re: BAD CREDIT - Posted by Jeff

Posted by Jeff on June 08, 2007 at 09:27:19:

SSG

I work in the collection industry and if you are dealing with collection agencies they are quoting an approximate time (i.e 30-60 days). Which actually isn’t that long considering… I run into this situation everyday people haven’t paid a bill in 3, 4, 5 or 10 years and then they need/ want to use their credit for a purchase. These individuals expect that they can neglect there credit for years and fix it in a week. That just isn’t true, it takes more time to repair than it does to destroy. However I will give you a few tips on making it better.

  1. understand it may take some time to get what you want.

  2. pay off all collection accounts and get a paid in full letter from each agency.

  3. bring any open accounts current.

  4. Get all open revolving accounts below 30% (i.e. $100 limit = $30 or less owed)

If you have any open collections and no assets (i.e a house) your score will not improve very much. The goal is to accept the old bad credit and take responsibility for it (by paying it) and then put good credit on top.

Word of advice when dealing with collection agencies.
Call them yourself, update your phone #, address, etc right of the bat. DO NOT TELL THEM YOU ARE CALLING FROM YOUR CREDIT REPORT!!! Just tell them you knew you had an out standing account w/ xyb company and you wish to pay it. Two tips to negotiating with collection agencies:

  1. most will take settlements (some up to 50% or more)
  2. Some will accept balance in full and delete it from your credit.

Most will do one or the other but not both, just make sure you get it in writing… hope that helps you some what… good luck