Comment from Rob
Time February 7, 2010 at 4:24 pm

who cares your hot!

Comment from Walmart Greeter
Time February 7, 2010 at 4:32 pm

Some Suggestions

A credit score reflects credit payment patterns over time, with more emphasis on recent information. Ways to improve a credit score generally include the following:

Pay your bills on time. Delinquent payments and collections can have a major negative impact on a credit score.

Keep balances low on credit cards and other “revolving credit.” High
outstanding debt can affect a credit score.

Apply for and open new credit accounts only as needed. Don’t open accounts just to have a better credit mix. It probably won’t improve your credit score.

Pay off debt rather than moving it around. Also, don’t close unused cards as a short-term strategy to improve your credit score. Owing the same amount but having fewer open accounts may lower your credit score.

Review your Experian credit score regularly so you know what is being reported. It won’t affect your credit score to request and check your own.

Get immediate online access to your Experian credit report and credit score. Order now!

Items that Improve Credit ScoresPaying your bills on time is the single most important contributor to a good credit score. Even if the debt you owe is a small amount, it is crucial that you make payments on time. In addition, you should minimize outstanding debt, avoid overextending yourself and refrain from applying for credit needlessly.

Applications for credit show up as inquiries on your credit report, indicating to lenders that you may be taking on new debt. It may be to your advantage to use the credit you already have to prove your ongoing ability to manage credit responsibly.

If you do have negative information on your credit report, such as late payments, a public record item (e.g., bankruptcy) or too many inquiries, you may want to pay your bills and wait. Time is your ally in improving your credit scores. There is no quick fix for bad credit scores.

One common question that many consumers have regarding their credit score involves understanding how very specific actions will affect it. For example, someone might ask if closing two of his or her revolving accounts would improve his or her credit score. While this question may appear to be easy to answer, there are many factors to consider. Credit scores are based entirely on the information found on an individual’s credit scores. Any change to the credit report could affect the individual’s credit score. Simply closing two accounts not only lowers the number of open revolving accounts (which generally will improve credit scores), but it also decreases the total amount of available credit. That results in a higher utilization rate, also called the balance-to-limit ratio (which generally lowers scores).

As you can see, one seemingly simple change actually affects many items on the credit report. Therefore, it is impossible to provide a completely accurate assessment of how one specific action will affect a person’s credit score. This is why the credit risk factors provided with your score are important. They identify what elements from your credit history are having the greatest impact so that you can take appropriate action.

How Long Does It Take to Rebuild a Credit Score?Actually, you don’t rebuild the credit score. You rebuild your credit history, which then is reflected by your credit score. The length of time to rebuild your credit history after a negative change depends on the reasons behind the change. Most negative changes in credit scores are due to the addition of a negative element to your credit report, such as a delinquency or collection account. These new elements will continue to affect your credit scores until they reach a certain age. Delinquencies remain on your credit report for seven years. Most public record items remain on your credit report for seven years, although some bankruptcies may remain for 10 years and unpaid tax liens remain for 15 years. Inquiries remain on your report for two years.

Comment from Dixie Darlin’
Time February 7, 2010 at 5:32 pm

A collection account will remain on your credit report for 7 years. Just paying the collection will not remove the account, it will just update to being “paid”, the damage has already been done.

If the account was just turned over for collection, and you have the money to pay, then contact the original creditor, tell them you have payment in full, however you are not willing to work with a collection agency. Ask them to pull the account back from collections and you will be in Friday to pay.

The main thing to do is to not pay the collection agency without an agreement called a “pay for deletion”, you did not say if the bill was medical or utilities?

A pay for deletion agreement means that in exchange for payment the debt collector agrees in writing to completely remove the collection account from your credit history, if they agree get the letter in writing, before you mail them a money order for payment.

Comment from Peter
Time February 7, 2010 at 6:30 pm

Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – credit-report-free.totalh.com