Better FICO Score? Get Charge Off Removed | Educitizen.com. Having good credit is important to your financial situation in this financial climate. Now that banking companies are more careful with lending money, your FICO score may be more important than ever.
Now, we’re going to find out how you can raise your credit score the best way.
Charge offs must come off your credit report if you want to improve your . Charge offs can have a very problematic effect on your credit.
Long story short; you want them removed from your credit report. If you currently happen to have them, you can do something to get them removed. This will improve your credit score and give you lower interest and monthly payments in return.
Beginning the process of charge off removal begins with obtaining a copy of your credit report. You get 1 credit report per calendar year. This allows you to see what your credit report says.
Many times, there will be a mistake on your credit report. When you spot an error, write a real letter to the credit agency. Don’t use email, compose a real letter.
You know, with ink and a stamp. If you don’t hear from the credit bureau within 30 days, the charge off gets dropped from your credit report. By using this technique, you get your FICO scores going in the right direction again
True, it’s a lot of work for a small step. But that’s what raising credit score is all about, small steps.. Just a small difference in interest rates for a mortgage can save you thousands and thousands of dollars over a couple of years. So be meticulous when going over the report.
It isn’t a lot of fun, looking into a credit report. That’s likely why almost no one takes the time to do it.. They assume that no charge offs are made in error. In reality, credit bureaus make a lot of mistakes. You can get the mistakes off your credit report and increase your credit score. You just need to do is your preparation and write a letter to credit bureaus. You can save thousands of dollars just by doing this.
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