Increase Your Credit Score Fast 2023
11 Minute Read
Obtain a copy of your credit report and identify the items you’d like removed. Use a template or go online to the dispute center at each credit bureau and dispute the items you’d like removed. Be sure to include valid reasons for the removals.
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How to remove negative items from your credit fast
Removing negaitve items from your credit can provide a significant credit score increase in a short time.
- Obtain a copy of your credit report from one of the three major credit bureaus. The three major credit bureaus are Experian, Equifax, and TransUnion.
- Identify which items are negatively affecting your credit and put them in a list.
- Either go online and dispute those items with the credit bureaus
- Or Print out a Credit Dispute Template Letter and enter your information.
- Mail the template and letter to EACH of the three credit bureaus. Their mailing information can be found on the websites above.
- If you mail the templates, be sure to include proof of identity. Usually this can be done by including a copy of your drivers license AND copy of a recent utility bill showing your current address.
- Be sure to update your proper contact information so that you will get notified of the response.
- Check back in 30 days to see what items have been removed.
What items can be removed from your credit?
Learn which items can be removed from your credit to help improve your credit score and increase your home buying power.
While all items can be disputed only some items will actually fall off due to valid reasons. Luckily congress has been taking some aggressive measure to improve consumer protections and help you with your credit under the FCRA. You can learn more about the FCRA here.
Errors or inaccuracies: If you spot any incorrect information on your credit report, such as a payment that was mistakenly marked as late or a debt that doesn’t belong to you, you can dispute these errors with the credit bureaus. They will investigate and remove any inaccuracies if they find them to be valid.
Outdated information: In many cases, negative information such as late payments or collections will automatically be removed from your credit report after a certain period, typically seven to ten years. If you notice outdated negative items still on your report, you can request their removal.
Identity theft or fraud: If you’ve been a victim of identity theft or fraud, you can work with the credit bureaus and your creditors to remove any fraudulent accounts or inquiries from your credit report. This often involves filing a police report and providing supporting documentation to verify the fraud.
Bankruptcies: Bankruptcies also stay on your credit report for a certain period (7-10 years), but you can review your report to ensure their accurate reporting. If you find any errors, you can dispute and request their removal.
It’s important to note that the process of removing items from your credit report can be complex, and there’s no guarantee of success. It’s recommended to work with credit repair professionals or credit counseling agencies to guide you through the process and ensure you’re taking the right steps.
How the medical debt relief acts of 2022 and 2023 can help you
In 2022 and 2023 Congress passed several law to protect consumers and their credit. Here are some important ones.
- Beginning in April of 2023 any medical debt under $500 should no longer be reported to your credit. That means, if you have items still showing up you can dispute them and they’ll be removed. You can read more about the medical debt relief act of 2023 here.
- In 2022, Congress under the FCRA passed a new law that would remove medical debt that has been paid, even if it’s already in collections, from your credit. You can learn more about the medical debt relief act of 2022 here.
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The benefits of having excellent credit
In 2022 and 2023 Congress passed several law to protect consumers and their credit. Here are some important ones.
Access to better interest rates: With good credit, you’re more likely to qualify for loans and credit cards with lower interest rates. This can save you money in the long run. Source
Higher credit limits: Lenders are more willing to extend higher credit limits to individuals with good credit. This gives you greater purchasing power and flexibility. Source
Easier approval for loans and mortgages: Good credit increases your chances of getting approved for various types of loans, including mortgages. Lenders consider your creditworthiness as an important factor in their decision-making process. Source
Lower insurance premiums: Some insurance companies use credit scores as a factor in determining premiums. With good credit, you may be eligible for lower rates on auto, home, or renters insurance. Source
Enhanced rental opportunities: Landlords often check credit reports for prospective tenants. Good credit can improve your chances of securing rental properties and negotiating more favorable lease terms. Source
Utility approval without deposits: Utility companies may require deposits from those with poor credit, whereas individuals with good credit may skip the deposit altogether for services like electricity and gas. Source
If you’re thinking about improving your credit so you can buy a home here are some additional resources:
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Links and Resources
- Mortgage Help and Credit Review with Cali Mortgage Guy
- In-Depth Article on the FCRA Updates: https://bit.ly/3pY4g9t
- Credit Bureau Information
–EQUIFAX Online: equifax.com/personal/credit-reportservices/credit-dispute/ By phone: Phone number provided on credit report or (800) 864-2978
–EXPERIAN Online: experian.com/disputes/main.html By phone: Phone number provided on credit report or (888) 397-3742–TRANSUNION Online: transunion.com/personal-credit/creditdisputes-alerts-freezes.page By phone: (800) 916-8800
Credit Repair Referrals:
–Larhonda Johnson Credit Repair
–Credit with Kiara
–Brianna Thomas Credit Repair Help- Credit Repair Template and Instructions https://bit.ly/CreditDisputeForm
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