Do You Need to Improve Your Credit History As Fast As Possible?

Today is a guest blog post from someone who I met at my favorite conversational networking location, Blitztime. Louise DiSclafani, spotlights how, in today’s economic times, your credit score controls every aspect of your life. Whether your an introvert or extrovert, financial freedom is important to all of us. This is one aspect to getting there.

You’ve heard there are many ways to improve your credit history. Well, here is one strategy to help in a speedier repair process. It’s known as the re-aging of debt and it is a violation of your rights, as stated in the Fair Debt Collection Practices Act (FDCPA) and Fair Credit Reporting Act (FCRA).

One common issue clients raise is why they have duplicates on their report. They have looked carefully, checked and re-checked and can see amounts that were identical but the dates didn’t match.

It is these discrepancies that could be re-aging violations sitting on your report and lowering your credit score. Now, re-aging can be intentional (willful) and it can be unintentional (negligent). The bottom line is that IF it does happen, it doesn’t really matter WHY it happened; it can still cause a collection to remain on a credit file longer than allowed by federal law.

Here’s how it works. When you fall behind on an account, it’s considered bad 30 days after the missed payment. That’s the date it should be reported as negative. That date is also the marker for the statute of limitations. The original creditor attempts to collect on this debt. If no results, then they hire a collection company to take over the job. The collection company usually puts a new date on the debt – the date they got the file. However, they are legally bound to honor the 2, 3 or 6 months that the original creditor attempted to collect on the debt. If they start the clock any time after the original date, which extends the statute of limitations, that is a violation of your rights and you have a candidate for removal!!

Not rocket science here, it’s simply having some understanding of how this law works.

You are improving your credit history by disputing under the grounds that the company is violating your rights and you can demand that they remove this re-aging violation, and don’t just let them correct the violation.

Credit repair techniques do change, just as other regulations change. Using the most current techniques will increase the success of your disputes.

Learn more about the secrets the credit bureaus don’t want you to know. If you have seen this discrepancy in your credit reports and you are ready to start a sure fire track to raising your credit score, and start regaining your financial freedom.

My husband and I are vigilant about keeping our credit score darn near perfect. What we found out is that as long as we have one payment still due, it will never reach more than 799. That really annoys my husband!

Does your credit score need repair? Or is it, darn near perfect?