There are the obvious ways: paying bills on time and reducing balances. You should also pay attention to the ratio of the amount you owe to the amount available. Do not max out accounts. Keep the ration below 50-60% of available credit. Also, check for errors on your credit report. Get a free report at creditkarma.com and look it over carefully. Challenge any errors. Credit bureaus are required to investigate and validate information. Avoid credit inquiries as they often pull down a score by several points. Good luck!
Rusty A. Payton, Broker
5650 N Broadway
Chicago, Illinois 60660
Once again, it will show all three major credit bureaus that you are responsible and pay your bills on time.
Typically, local banks and credit unions will give you the best deal on a small loan, so consider stopping by and seeing what kind of deal they can give you
[url=http://www.realtypin.com/news/story/738-cant-qualify-for-a-m To Raise Credit Score[/url]
2) Payoff any outstanding collections or dispute them aggressively, if the collections are invalid and set up a plan with a representative from the collection company, to have the collection removed from your credit report.
3) Do not incur any new credit debt. Take the first 2 steps seriously and commit to controlling your spending on credit and you will see an INCREASE in your credit score within 30 - 90 days.
I would start by talking to a lender. He/she can run your clients credit and identify what, if any, are the issues. Once identified the lender can best advise on what your clients need to do to increase their credit.
Quickest easiet method in my opinion and it's at no charge to your clients. Of course, the lender will be looking to be the loan originator once they are on track.
There are many tricks however if you really need expert advice then I would recommend speaking to someone reputable that repairs credit. Talk to Peter Djuric at firstname.lastname@example.org. I have worked with him many times and know that he can help you accomplish your goal.
Sohail A. Salahuddin | Group Founder
Innovative Property Consultants Group | Sales and Leasing
Jameson Sothebyâ€™s International Realty
425 W. North Ave. | Chicago, IL 60610 â€¨
O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030
"Locally Known, Globally Recognized"
1. Your payment history. About 35%
Late payments, bankruptcy and other negative activity hurts you. On time payments help you.
2. How much you owe. About 30%
The higher your balance (amount owed) compared to your limit (available credit) the worst it is on your credit. Strive to keep your amount owed at 20% or below of your available credit. If you cannot pay down your balance you could ask for a credit limit increase and if granted this could have a positive effect on your balance to credit limit ratio.
3. Length of credit history. About 15%
Do your best to not close accounts especially if you've had them for many years.
4. New credit. About 10%
If you are doing comparison shopping try to do it within a 30 day period.
5. Other factors. About 10%
Several minor factors affect your score. For example having a credit mix in your report like credit cards and installment loans, or a mortgage and auto loans, personal lines of credit, etc.
Feel free to contact me if you need more info on a loan or how to improve your credit score.
Financialcoach1@gmail.com or 773-517-0345.
You can try a rapid rescore thru Michelle Searcy at Signature mortgage! Please contact me for more details!
Real Estate Broker
650 W. Lake St #230
Chicago, IL 60661
Have your clients obtain copies of their credit reports. Then have them look for any errors or mistakes that might be depressing their credit scores. Follow the credit reporting company procedures to contest and remove the erroneous information.
Also, as already suggested, reduce balances on lines of credit to below 50% of the limit. Example: A person has two credit cards, each with a $4,000 limit. The person is carrying a balance of $3,500 on one and nothing on the other. It's much better to spread that debt out so that $1,750 is on each card. Or simply pay the balance down to under $2,000.
Tell your clients not to make new purchases, especially major purchases. And not to apply for new credit anywhere. Tell them, also, not to cancel existing lines of credit.
Hope that helps.