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Strategies to Fix Your Credit

By Vincent Polisi

Republish: EasyPublish™
Published: 07Feb2010
Word count: 414
Viewed: 388 time(s)

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If your New Year's resolution is to fix your credit score issues once and for all, then you will want to read on. We will be taking a look at some ways you can improve your credit.

Rehabilitate student loans

If you have defaulted student loans, you may think short of paying them off in full that there is nothing you can do to prevent the damage they are doing to your credit file. Luckily, this isn't the case!

Just like the federal government has numerous programs in place to prevent your student loans from going into default, they have a great program that will help you cure the default on your loans. It is called student loan rehabilitation. You just need to call the account holder and let them know that you would like to participate in this program. You will then be required to make 12 on time payments in a pre-arranged amount. Once this is done, your student loan will no longer be in default and you will regain your eligibility for future loans. You are also no longer at risk for having your wages garnished or attached. The best part is that the negative history associated with your account will be removed.

Dispute with the original creditor

If you have tried unsuccessfully to dispute an account with the credit bureaus, you may think there is no hope. The truth is that there are numerous advanced strategies to repair your credit. One of them is disputing the account with the original credit.

This is done in a similar fashion to how you would dispute with the credit bureaus. Under the Fair Credit Reporting Act the creditors must conduct a thorough investigation of the dispute and respond back to you within 30 days. If the creditor finds that the information they are reporting to the credit bureaus is not accurate, they must inform the credit bureaus of their mistake and request that the credit bureaus correct the information.

This strategy can work well because it is the only way of disputing that guarantees that the creditors are seeing any documentation that you provide. Due to the way that disputes are handled between the credit bureaus and information providers, it is very common for them not so see any documentation that you have provided but rather just get a code from the credit bureaus. The ability to require creditors to review your documentation can improve your chances of successfully correcting your credit bureau.

Vincent Polisi is the founder of Credit Repair College and Life Rebooted.org. To learn more about how to fix credit , please visit him on the web.

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