So you have tried all the way to Repair Credit, but didn't work..!! and now thinking about what are the Credit Repair Secrets that you can follow and build credit. Lets discuss few credit repair secret here.
First of all keep one thing in mind that If wrong entries in credit reports are correct you are not allowed to remove it. A site known as Dayana Yochim of the Motley Fool suggest mistakes in files is due to spelling errors or payment date error ranges around 80 percent. Minor fault makes dispute as per Fair Credit Reporting Act (FCRA). Most of the times lenders do make any reply to credit bureaus regarding disputes, so that bad entries could be removed. You can get a free credit report annually as suggested by FTC.
In the report try to search all errors in it and then fill dispute form online to make a dispute.
To find out current late payment get your accounts audited. Because wrong bill payments make negative effect on your credit history as suggested by FICO, a largest credit rating company. Make a schedule for whole further payments on time, as it will regularly boost your ratings. To your pay at least your smallest dues make a financial plan every month and also go through your emails timely or to avoid late payments use ECS system i.e electronic funds transfer.
The higher your loan lower will be your credit rating as per FICO. So to lower your rating you must pay the highest balance as it will improve your credit. As per guidelines of Bank rate columnist Lucy Lazarony the main step to lower loan is making payment in high interest accounts. Because if you pay less money in such type of accounts, principal amount does not reduce so much. Higher payment should made in these accounts to lower the principal amount as early as possible.
Although FTC suggest to avoid credit repair agencies but it also suggest these companies helps better to make workable budget or debt-management plan. They people contact you personally, either on telephone or through internet and assess the conditions suggest best way out to improve your rating. These agencies representatives have tact to bargain with lenders for out standings or to lower interest rates & even make debt management plans to make payment of bills etc timely. Because they know timely payment and reduction in balances repair and raise your credit over a period.