My Credit Score

Improving Your Credit Score is not that difficult if you follow competent advice. First, your dispute letter to the credit bureaus needs to be short and to the point. Don't quote your lawyer or imply an impending doom for their legal department. Instead of being a junior legal eagle, just make sure that each of your dispute letters have these three elements:

• Number 2 - Why you are disputing it
• Number 3 - What specific results you are seeking
• Number 1 - What exactly you are disputing

You want each of your dispute letters to have all three of the above elements. Take a look at this example of a simple dispute letter: DON'T USE MY WORDS!!

If the credit bureaus receive hundreds or thousands of the same letter, they will consider your letter frivolous and possibly dismiss it the dispute.That said, here is an example of a letter to send to the credit bureaus:

• Your Name
• Your Social Security Number
• Dear Credit Bureau Name
• I am disputing the Sears account appearing on my credit report, number XXXX, for the reason of (mention one of 13 reasons below).
• Re: (account and reason for your dispute goes here)
• Please delete. Thank You.
• Your Date Of Birth
• Your Address

As you write the letter, choose one of these 13 reasons:

• Incorrect Date
• Account Transferred To Another Lender
• Not Liable For the Account
• Incorrect Account Designation
• Original Creditor Not Listed
• Account Closed By Consumer
• Opened/Not Accurate/Inaccurate Terms
• Creditor Classification
• Incorrect Balance Being Reported
• Inaccurate Remarks
• Account Type Inaccurate
• Inaccurate Late Pays
• Obsolete Account

Improving credit scores begins with a smart reason of dispute-no more playing lawyer or credit repair student with plagiarized textbook form letters. This letter has two benefits- if the credit bureaus accepts your reason, then send them another dispute letter using a different reason on the list. When you provide a different reason to each bureau for each bad account, you will repair your credit one by one.

You might have been lured into believing that disputing your account as "not yours" would be the best way. But by being an informed consumer, you now have a treasure trove of reasons to choose from.

Putting it all together: Don't believe the myths that credit courses push on you. In addition, restoring your bad credit is a secret process within the credit agency system that only a handful of qualified repairmen know. You should now be empowered with good information and avoid the bad. For More Information on credit repair Click the link below and go to our website. Author Bio: Mark Garcia will teach you how to Improve Your Credit Score fast with his FREE Instant Access to a 3 minute video about his own credit repair story. You can also download a special report on the "10 Most Dangerous Mistakes That People Make When Trying To Fix Bad Credit" available at Crushing the Credit Bureaus.

   Holy Cow! As if the the current credit crisis wasn’t enough to keep you up at night worrying about your financial future, Experian just announced a MAJOR blow to the American public and it is not a good thing at all!

   Starting February 14, 2009 Experian has announced that they will no longer all you to purchase your FICO Credit Scores. As most all of my students and loyal readers of this blog know, having the ability to purchase all three of your credit scores is absolutely critical to you knowing where you stand with regards to approval of a loan and at what rate.  Now Experian wants to take away that access to info so that you will only know what your scores is when the lender actually pulls your credit for the application. 

   Does this sound at all like a conspiracy to you??? Well, if I don’t know what my scores are before I generate an inquiry, how do I know if I will be approved? Also, how will I know what rate I qualify for? I will have to take the word of the lending institution as to what my credit score was.

   In 9 days we will no longer be able to see the same information that lenders see. While you can, you should go purchase all three of your FICO credit scores to see where you stand as of today.

Here is the link…

http://www.MyFico.Com/12

   Unless something major happens, this will be the last time you have the right to purchase all three of your FICO scores and arm yourself with the knowledge of YOUR credit reports. For some reason, Experian doesn’t think that you should have that right.

   Matter of fact,  our FICO scores were hidden from us once before. Back in 2003 we were empowered to see this information. We have enjoyed the ability and freedom to know our real credit scores for almost 6 years. Unfortunately that freedom is about to end.

   This means that you won’t know your middle score (the one that almost all mortgage lenders look at when they pull your credit scores to determine approval and at what interest rate) and will be in the dark as to if you qualify and for how much. We all will be flying blind with most major credit purchases, especially mortgage approval for purchase, refinance, etc.

THIS IS NOT GOOD NEWS FOR ANY OF US!

  I am recommending that all of my students and readers call Experian’s media relations department directly at 714.830.5300 and share your thoughts and commentary with them. Leave a message if you don’t get a live person on the phone.

  Here is the official news release from Fair Isaac (FICO)

“Fair Isaac has long been committed to empowering consumers with information. Besides helping consumers understand and manage their credit profiles, we believe that consumers are entitled to know their FICO scores from all three major credit bureaus, since these are the scores lenders use to make credit decisions.

“We were recently notified that, effective February 14th, Experian will no longer allow consumers to view their FICO scores based upon Experian data. FICO scores from Equifax and Trans Union will continue to be available on MyFico.com”

So my friends, once again we must be vigilant in protecting our rights to know our credit scores and make sure that those housing that information are accurate and up to date!

   Hello All, 

I know that most of you are winding down and getting ready to celebrate the holidays with family. I want to take a few quick moments and thank each of you for your support and kind words. This journey of credit repair and increasing credit scores will be off to a GREAT start in early 2009. I have some new techniques and insider tips we have been using here with HUGE success.

Talk Soon!

Your Credit Score Insider,

Mark Garcia