Credit Repair

3 Things You Should Not Do to Fix Your Credit

If you have a low FICO score, you are probably considering doing something to fix your credit. But, do you know what strategies work and what don’t? Many people end up committing certain mistakes in this regard that will put them into a deep financial trouble. Following is a list of some of those things that you must avoid.

Do Not Dispute All Negative Entries on Your Report

Some people try to be over smart and file a dispute on everything wrong that is showing up on their reports. If you do so, the chances are that the credit bureaus will straightaway reject all your applications for disputes because such things are not believable at all. Even if the bureaus register the disputes and start their investigation, you should still not follow this tactic; after all, there might be certain entries on the report that are actually helping your FICO score. SO, if those entries are taken off as part of the investigation process, it will only cause more financial troubles for you. So, be very practical and genuine in your approach when you try to fix your credit. Do a thorough review and analysis of all negative entries appearing on your report and then do a preliminary investigation on your own before you file a dispute.

Be Careful while Using Professional Credit Repair Services

Using a professional service may sound to be a great way to fix everything easily, but it is very important for you to keep in mind that such companies have a very bad reputation in general for good results, especially the ones that make claims that are too good to believe. They are likely to use tactics that are not legal or not genuine. They may even try to get some of the negative entries removed from the report temporarily; once you pay their fee, the entries will again start showing up on the report. Therefore, you should avoid using their services. If you really need help to fix your credit, do a thorough research first and choose a company that is genuine and reputable.

Do Not Close Old Credit Card Accounts

When you realize that you are having a bad credit history, you may be tempted to close your credit card accounts, assuming it will help in increasing your FICO score. It is very important for you to keep in mind that old accounts actually help in buildi8ng a good credit history. So, closing your credit card accounts (especially the old ones) is a bad strategy, something you must avoid. But yes, make sure you are current in paying up your credit card bills.

Overall, if you seriously want to fix your credit, make sure that you follow the three don’ts, as described above.


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Posted in Credit Repair, Fix Your Credit | 1 Comment »

One Response to “3 Things You Should Not Do to Fix Your Credit”

  1. michael says:

    The article gives us very important information about the fixing of our credit. It is equally important to follow the things which we should not do at the time of crisis. The three points mentioned above which we should avoid to get a good credit score are very important. We can try to file a dispute for some entries which we think are genuinely wrong. But be very careful about choosing these entries. We should always make sure ourselves before a dispute going to register. One other point is also very informative, screening of professional credit repair companies is very necessary. Before giving the task to any company, it is very important to search each and every thing about the company. The company chosen should have a clear background with no fraud in the past. We can first shortlist some companies and then we can choose the best for us. While trying to fix our credit, we should not take any decision in haste. Credit Accounts with bad credit scores are also equally important for us, it will help in future getting a good credit score. Above all the financial discipline is very important for having good credit score. Once you meet the goal of good credit, you have to maintain it by doing the payments very consistently. This article also tells us the three don’ts. They play an important role in our life as the Do’s.

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