Two Step Is For Dancing – Five Step For Bad Credit Repair

Posted by admin under: Main Oct 31

Everyone seems to be doing the bad credit repair dance, and there are plenty of ‘gurus’ to teach you the steps. After reading their long seductive sales letters, you’re sure he can have your credit soaring high and ‘dancing with the stars.’

Of course if it were just as easy as that, everyone would have 800+ credit scores. So, lets come back to reality. I’ll share with you the five factors that determine your credit score. Straight..no chaser.

Payment History = 35%

This is where it all begins. You must be able to pay your bills on time. It does you no good to clear up your past late payments if you are still paying your current bills late.

Amount of Debt = 30%

The second most import factor in determining your credit score is the amount of debt you carry. More specifically, how much debt you carry compared to your total amount of available credit. This is known as your debt to credit ratio.

Length of Credit Time = 15%

The longer you’ve had credit on your file, the better. It demonstrates stability and proves that you are a credit responsible person.

Inquires = 10%

Each time you apply for credit, whether for a car, credit card, or whatever, an inquiry is left on your file. Too many inquires within a certain period of time is bad for your score. It becomes even worse if you have many inquiries, but no accompanying open accounts for them.

Credit Mix = 10%

This refers to the different types of credit you’ve acquired on your credit file. Someone who has a credit mixture of different types of credit will be favored more than someone who only has revolving credit and no loans, mortgages, etc

Are you ready to take action…really?! Forget all the over hyped claims that propagate the web. No course, no mentoring programs, nothing will work unless and until you decide to make a tremendous change in your life. It has to become real and of the utmost importance to you. To begin that journey, you need knowledge..you need help.

Get professional assistance or do it yourself. Bad Credit Repair.

Need more info on how to legally manipulate your credit score? Click here… Credit Repair Secrets

Christopher Wright, Financial Cancer Specialist

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Source: Two Step Is For Dancing – Five Step For Bad Credit Repair

Wednesday, October 31st, 2007 at 11:21 pm and is filed under Main. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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