There’s a lot of advice floating around out there on how to fix a credit score. However, it’s just as important to know what NOT to do as it is to know what TO do when it comes to achieving your credit goals.
Here’s the 4 Do NOT’s of how to fix a credit score:
1. Do Not pay any open collections (not even a penny) without talking to a credit specialist first. Paying a collection will likely not improve a credit score; it may actually lower it. Any settlement should be done with a settlement letter which agrees to the deletion from a credit report.
2. Do Not contact any of the collection agencies that credit repair specialists are already working on.
3. Do Not apply for new credit or seek out major loans before checking with a credit repair specialist. Credit repair specialists know which accounts will boost a credit score, and you should trust their advice and guidance on which new types of credit will have the greatest impact on your score.
4. Do Not discuss a collection item with a collection agency who contacts you. Do not have any sort of conversation with them other than to politely take down their name, the name of the collection agency, phone number, your account number with them, the original creditor name and the month/year it first became late with that creditor. Then tell them, “Now is not a good time to talk and I will call you back another time.” Do not tell them to contact your credit repair company or your attorney. If this cannot be done, then simply hang up on them. There are scam collection agencies out there and valid ones – you want to get as much information as you can from them and you don’t want to give them your information.
Please contact Go Clean Credit if you have questions on how to fix credit score, or have committed one of these “Do NOT’s” of fixing your credit.