Credit Repair Guide will show you all the details you need to repair bad credit


Credit Repair Guide

Credit repair guide into fixing bad or no credit.
The guide is to help repair credit, or guide to fix bad credit.

What makes a good Credit score?

Our Credit Repair Guide will show you all the details you need to repair bad credit


Fair Isaac Corporation uses 22 pieces of data collected from the three major credit bureaus to produce a FICO score (your credit score) with the lowest possible score of 300 and 850 as the highest possible score. There are 5 weighted categories used to determine your score.
  1. Payment history 35%
  2. Debt 30%
  3. Length of Credit history 15%
  4. New Credit 10%
  5. Types of Credit used 10%
Pay on time!
Payment History and the amount of debt you carry are the two largest factors in having good credit score. First always pay your bills on time, by doing so you have given yourself a 35% chance of having a better score.

Reduce your Debt
The amount of debt you carry is also very important. If you carry more than 30% of your available balance this becomes a negative mark on your credit report. Ideally you would like to carry no balance on your credit card. But if you must make sure it's less than 30 percent of your available line of credit.

By paying on time and reducing your debt you have taken care of 65% of your credit score.

Debt
Debt is the number one cause of poor credit. When people carry too much debt they increase the chance of not being able to pay all their bills on time or in full and therefore can negatively affect their credit rating. This becomes a slippery slope that can quickly spiral out of control.

When you have too much debt there are really only five options available to you.

  1. Ignore the situation By ignoring the situation you are let your credit go down in flames! In the future you will have a hard time getting a car loan, mortgage or even renting an apartment. You will pay more money for the exact same item then people with good credit.


  2. Debt consolidation : This can take the form of any of the following:
    1. Borrowing money to pay off debt.
    2. Borrowing against the equity in your home to pay off debt.
    3. Credit Counseling: a service provided by both for-profit and non-profit companies who negotiate better rates with your lenders and give you one lump sum payment and then they turn around and make the payment on your behalf. The entire amount of your debt is owed as well as additional interest and/or penalties accrued


  3. Debt Settlement : Debt settlement is a negotiated settlement of unsecured debt. Often for on 20% to 30% of what you owe. The draw back.
    1. You run a real risk of getting sued
    2. Deal with nasty call from Creditors and collection agency
    3. In the short term destroy your credit.
    4. This process in not for the faint of heart.
    5. Chapter 13 Bankruptcy: This is an embarrassing situation that can have a negative effect on your credit for 10 years or more. This will affect everything from buying a car, getting a mortgage loan to getting a job. You are required to let your employer know about past bankruptcy.


  4. Debt Role up: You make a list of all your debts. Rank them by balance size and not interest rate. You start paying extra to the smallest balance you carry. Once that balance is paid off you apply all the money from that debt to the next largest balance. You continue this process until all debts are paid. This method will create a "snowball" effect in paying off your debt.
For many the clear choice is the Debt role up method.

Our Credit Repair Guide will show you have to legally eliminate your debt and improve your credit score.

We clearly break down the following items:
  • Debt Consolidation
  • Debt settlement (Including Bankruptcy)
  • Debt Roll up aka Debt Snowball
  • Expose many Debt reduction and credit repair Scams
  • Find out What makes up a Credit Score?

Follow the link below and you will get instant access to this free course. I hate spam as much as you do. I will respect your privacy and email rights.

Credit Repair guide will show you how to eliminate your debt and improve your credit score legally and easy.

 

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Comtrex, LLC
DBA Dynamite Info Products
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Credit repair business is a business for home credit repair, for bad credit, terrible credit, or no credit. You own credit repair business in a box is software to start your own credit repair business as an home business or a profesionall business starter. Credit Repair that repairs bad credit or no credit to get your credit scores higher, and credit back on the positive side.