Can you get rid of 30 day lates? if not how long do they stay on there. If a company closes your account does that hurt your score? If so is there any way to get them to reopen?
If your credit score is awful, what are the 3 quickest ways to get it up?
It looks like you have a series of questions here, so let me try and answer each one individually:
Can You Get Rid of 30 Day Late Payments?
Yes, but it鈥檚 tricky to do. Late payment notations tend to drop of your credit naturally after 3-5 years, but if you can鈥檛 wait then you need to speak to the creditor that you paid late since they control the information that led to the bad notation. Make sure you鈥檙e in good standing with this creditor for at least 3 months if the account is open; if the account isn鈥檛 open, wait at least 3 months for the closing paperwork to be finalized. At that point in time you can call in to have them remove the negative information and 9 times out of 10 they will be happy to do it 鈥?just make sure to be polite. (86% of customer service agents surveyed responded that they are more likely to help a caller if the caller is patient and polite!) If this doesn鈥檛 work out you may contact the credit bureau directly鈥?they will send you a form to dispute the negative information.
How Long Will Late Payments Stay On Your Credit Report?
As mentioned above, they will fall off naturally after 3-5 years. The reason they stay on so long is to act as an indicator to future creditors that you have had trouble paying bills in the past.
If a Company Closes Your Account, Does that Hurt?
It depends on why the account was closed. If your account was closed for late/non-payment (also known as 鈥渃harged off鈥? then this will do the most damage to your credit as it counts as a loan default. If you closed the account voluntarily then your credit may suffer, but far less than if your account was charged off; the reason for this is because your total credit score is determined by how much credit you have available versus how much of that credit you鈥檝e spent. A smaller total credit limit makes your credit score more susceptible to over usage penalties, so it鈥檚 best to keep some accounts open even if you鈥檙e not using them (just make sure they don鈥檛 have expensive annual fees!)
What are 3 Quick Ways to Raise Your Credit Score?
First let鈥檚 examine what makes up a credit score:
鈥?35% - Payment history
鈥?30% - Total amount owed vs. total credit available
鈥?15% - Length of credit history
鈥?10% - New credit accounts
鈥?10% - Types of credit used
The quickest way to improve your credit score is to improve the areas that are valued the most. With that in mind, the three things you could do would be (1) continuously make on-time payments and settle up past due accounts, (2) pay down your debt as much as possible without closing down account, (3) apply for credit line increases without increasing your spending.
I hope you find this information useful - good luck!
If your credit score is awful, what are the 3 quickest ways to get it up?
Great Answer. I feel I have an idea of what counts for what and I can go forward trying to improve my score. Looks like it will take several years. Report It
If your credit score is awful, what are the 3 quickest ways to get it up?
Hire an attorney is the best way to do this...
If your credit score is awful, what are the 3 quickest ways to get it up?
pay up your balances, or at least pay on time. Do not apply for a new credit card or any other type of finances. Do not let anyone pull your credit. 30 day lates eventually come off, and if your more than 12 months away from them, they won%26#039;t hurt you in financing.
If your credit score is awful, what are the 3 quickest ways to get it up?
Check your credit report and dispute any errors. (Don%26#039;t dispute things that are true, just the real errors.) Start paying the collections which are the most recent since the recent history has more of an effect than the past. Pay items down to less than 30% of the what you owe so that you are using less of your available credit. There are more items, but those would be my top 3 picks.
The 30 day lates stay on there for 7 years, but have less of an effect after 2 years has passed since the late. Yes, a closedd account lowers your average account age which is one of the items calculated into your score. (You want open accounts in good standing.) I don%26#039;t know of a way to reopen the account. If you try, and the item is bad, then you just made the item look more recent than it actually is.
If your credit score is awful, what are the 3 quickest ways to get it up?
I have placed this in the source box. There is a wealth of information there and a great free debt management software program. I bookmarked the site as I return to it often for the advice it offers. I hope this helps you.
If your credit score is awful, what are the 3 quickest ways to get it up?
Bad credit can frustrate your efforts at getting a credit. Hence ensure you keep your credit report clean. If there are any errors in the report, undertake credit repair to clear out any errors. This can be tiring and frustrating, but highly rewarding. Though law recognizes and protects your rights, it is your duty to remove any anomalies in
If your credit score is awful, what are the 3 quickest ways to get it up?
Hey there I%26#039;ve got 10 steps you can use to build your credit score. I raised mine to well over 700 points from 500 using these steps:
# Know and Track Your Credit Score
# Never Miss a Payment, Starting Today
# Never use more than 20% of your Available Credit
# Keep Credit Cards that Have No Annual Fees Open For as Long as Possible
# Extend Your Credit Limit on Cards You Already Have before You Get New Ones
# Get Credit Cards that Have CashBack Rewards to Contribute to your Balance
# Transfer Your Balance to a Credit Card with a Lower Interest Rate and a Higher Available Credit-
# If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan
# Take out a Small Personal Loan and Repay it Over a Year
# Ask Someone With Good Credit if They will Account Shadow you
Read the full article here, it gives you an overview of credit scores, and the 10 steps in detail on page 2:
http://millionster.com/articles/debt/inc...
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