What is the best wat to fix your credit?

First, it would help to know what makes up your score. One poster gave the factors, but didn't give how much of a factor:

1. Payment history- 35%
2. Total debt owed to avialable credit ratio-30%
3. Length of time establishing credit-15%
4. Types of credit established-10%
5. Inquiries and New accounts-10%

As you can see, payment history is the most important aspect. So here's some tips that I think are important that will help you

1. Open a bank account- while this may not directly improve your score, it does other impotant things such as establish a relationship with a bank so that being a preferred customer in excellent standing, banks tend to offer more products such as loans and credit cards to get more of your business. Also, it gives you a main reference point in managing your money, and more importantly, it equips you with the single-most powerful tool in building credit, a means to pay your bills on time, especially if the bank offers online billpay. A savings account is a great way to start an emergency fund to help prevent "living off credit" and relying on credit cards so much.

2. Gather all your credit reports- The FACT (Fair & Accurate Credit Transactions Act) allows you to have one report from all 3 agencies every year which will allow you to not only make arrangements for the debts you have, but also make corrections on your report. People just believe that their credit is so bad, that they don't even bother to check to see if what's hurting their credit is even theirs! I know it sounds crazy, but in the line of work I do, I not only see it all the time, but I've experienced it firsthand. It's important to file a dispute with all 3 agencies if an item that's not yours is on your report. All 3 agencies have an online dispute feature which you can file right on the spot, it usually takes 1-2 months on the average for disputes to get resolved. Once you've corrected all the mistakes, then you should arrange all the collections and charge off account from newest to oldest, lowest to highest amount. Items that are less than 2 years are hurting your score the worst. When you make arrangements to pay the debts, you should negotiate a "pay to delete" or "deletion payment", which is a payment in exchange for removing it from the credit report, becuase just simply paying off the debt will not help your score anywhere near as much if it it's removed from the report. Not only the "dead debt" that makes up 30% of your score would be removed, but the negative payment history that makes up 35% of your score would be gone too. That's в…” of your score. I posted several links that explains how to do this more in detail

http://www.creditinfocenter.com/debt/settle_debts.shtml

http://www.creditinfocenter.com/debt/neg_rating_after_settle.shtml

http://www.creditinfocenter.com/debt/CanCreditorSue4SettlementDifferences.shtml

http://www.creditinfocenter.com/debt/ActualDebtSuccesses.shtml

http://www.creditinfocenter.com/debt/debt-negotiation.php

As for the other accounts that you have open, it's important that you start paying on time if you haven't already

3. Get new credit- If you're able to get the old collection accounts removed, it going to take good credit to replace the negative credit that you had removed. Remember, it takes credit to build credit. If you don't have any credit cards, the easy credit card to get approved for is a secured credit card. Anytime that you apply for credit, a "hard inquiry" is created which lowers your score regardless of if you're approved or not, so it's important to try to apply for something you have the best chance to get approved for. Granted, there are some credit cards out there that target people with bad credit trying to start over, but the downside to that is that they cards are loaded with so many hidden fees that eat up the available credit and charge you a bill before you're able to even use the card, meaning that you're already starting off in the hole. It's just not worth it. If you're going to have to pay anything or put up any money upfront, at least with a secured card, you can set your own limit. For example, if you put up $300, then your limit is $300. You still would have to repay whatever you purchase on the card like a regular credit card either in full or in minimum monthly payments, the deposit is used only when the account is not paid and is charged off and sent to collections. Also, the deposit is sometimes linked to a savings account which earns interest while you're building credit, so the deposit isn't just sitting there. You can think of this as building credit with a savings account, so to speak. A good way to use the card would be to make small purchases ($20/month max). pay it off on time while adding to the deposit every month. It helps your score if you have high limits on your credit cards becuase it creates a cushion between the amount of debt and available credit you have. Usually, it takes a year or so of paying on time before the card upgrades to a regular card, but most importantly, the deposit is no longer needed and is given back to you, which I would suggest placing in a savings account to start up an emergency fund. You may start receiving more offers in the mail for credit, but I would open another secured card to ensure getting approved and start up another emergecy fund.

4. Enroll with PRBC- PRBC is America's Alternative Credit Bureau, providing a helpful service to the over 50 million people with limited or no credit history. If you pay your monthly bills on time, PRBC can help you build credit to qualify for a mortgage and better interest rates.On-time payments for the following bills are not reported to the traditional credit bureaus:

Rent
Cable
Phone
Daycare
Insurance
Electric
Natural Gas
Cell Phone

The only time your payments for these bills are reported to the other credit bureaus is if they're missing or late.With PRBC, your on-time payments count. You build credit for paying your bills on time, even if you have no credit history. PRBC offers two simple ways to start building credit today.

These are some of the things that you can do to help yourself

I posted all the links to everything I mentioned.

I thank you for reading and good luck!

Don't give in to those companies who say they're going to help pay off your loans because it's bad for your credit. Just take it one debt at a time. If you have 3 credit cards with $1000 debt for each card start paying more than the minimum for the first card and keep paying minimum for the other two. Keep doing that until you pay off the first card entirely then start with the second card and third card until you're debt free.

best way is to pay off all credit cards at the end of every month.

Pay all your debts off and start again.

Order your credit report. Order Esperian, Equifax, and Trans Union. Start with the small balances 1st. You have the choice of calling them (the creditors you owe, not the credit bureaus) and either pay the balance in full (which repairs your credit score, better) or settle in full for a lesser amount. It repairs your credit, also, but not as well and also leaves creditors with a bad feeling about you when you want to buy something. It concerns them that you might do the same thing to them and leave them "short". But, you DID ask for the BEST WAY and to pay them in full is "that way". But like I said before. Start with the smallest balance and work your way up. As you get receipts, send copies to the credit bureaus, stating, "This balance is now paid in full. Please adjust your records accordingly". They only update their records, once every 90 days, so by sending them a copy of the receipt and account info that it corresponds to, they will update it, instead, right away.

There are many factors when it comes to fixing your credit, but I believe that the first step should be by stopping charging to your credit cards and just paying them off. Try to always pay on time and always a bit more than the minimum. Call up the creditors and ask for lower APRs. DON'T cancel your credit cards thinking that this will improve your credit score because it will not. You can also get a free copy of your credit report which you can check for innacuracies. Many companies tend to have mistakes on people's reports, so you have to be watchful of that.
For more information, try reading "Debt Cures" by Kevin Trudeau. It's actually a pretty decent book with lots of essential info. Good luck!

The slow but steady process:
Pay all your bills on time.
Don't charge up anything else.

The really good way:
Live a lifestyle that doesn't require credit at all.

Lexington Law Firm is the most reputable credit repair company in the world. They delete all kinds of negative credit including charge offs, collections, late payments, bankruptcies, foreclosures, repossessions, judgments, tax liens, and more.

Pay everything off, little by little...

Make your payments on time, don't go overlimit, limit the amount of inquiries, and have patience. Simple questions get simple answers.

Pay your bills before or on time for atleast a year or so.

To Repair credit score
Your credit score is based mostly on:

1. Length of credit history
2. Payment history.
3. Ratio of credit used to available credit.
4. Number of credit inquiries you authorized.

If you cancel your card, you'll be hurting your credit ratio. (#3).

You want to deliberately keep your oldest credit card open, even if you never use it.

You want to always pay the minimums of each loan on time every month.

You want to keep your available credit high, but actually only have balances equalinig 25% or less.

You want to keep your credit inquiries to a minimum. Try for no more than 3 or 4 per year for any type of loans.

You do these things and your credit score will quickly soar into the 700s.

--------------------------------------...
http://www.bestcreditrates.net

Pay off all debts that are in collections
Get all your credit cards and payments caught up and current
keep paying those bills on time EVERY month.

i did that and my credit score, on just doing what i wrote, went up 100 points in a year

Get a Copy of your Credit Reports and Study title 15 of the United states code under fair credit reporting act
i think its section 1681 ??
I study way too much law darling hehe.
if you need more help buzz me in an emails ok Smiles LP MUAH

Go to your bank and get a secure credit card. It helps rebuild your credit

what kind of damage do you have?

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