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How A Rapid Upscore Of A Credit Report Can Help A Client


The best advice about most credit scores is it really works best...when you do it yourself. But when it comes to the powerful and fast potential of ‘rapid rescoring,’ you have to trust our credit repair specialists. At the same time, rapid rescoring is new enough that some credit repair specialists, for instance, are not sure how the system works.
Rapid rescoring is a fairly new way to correct errors on a credit report from one of the three major credit reporting agencies (Equifax, Providian, and Experian). Ideally, in applying for a home loan, an error identified in the crucial hours of credit rating can be fixed. The result may be a savings of thousands of dollars. The system allows for more rapid changes, perhaps correcting errors within three days, and almost certainly by five. Less costly challenges to negative items will take at least 30 days and may even take up to 90 days to clear from each of the major reporters. In fact, credit agencies only report every thirty days. This leads to contradictions and differences between the agencies themselves, and contributes to the reason rapid rescoring may be essential to correct your credit scores: especially when you are near to closing on a home or consolidating debt in a new loan. It’s not uncommon for a rapid rescore to add up to 50 points on a FICO (See Testimonials in TotalDebts.com) credit score.

Work with our credit repair specialists. There are limits on who can help get a rapid rescore. If you are approaching a loan from a traditional bank, they may or not be willing to help. Their interest is not necessarily the same as a credit repair specialist, who stands to get paid only if you get approved. For this reason, many (but not all) credit repair specialists may even absorb the cost of the rescore. On the other hand, if you belong to a credit union, you will almost certainly find they are much more interested, and motivated, to help you improve your credit.
We’ll have work to do to get the job done quickly, too. Plan on contacting the creditor quickly and working to be sure you will get original documentation from them (for example, a letter explaining the debt or lien was paid or satisfied) in a timely way.
Working with our credit repair specialists, they’ll be able to help you professionally and get for you the expected results.

  • R9 rated accounts with the credit bureau which they’ve been paid in full but in your credit report it still shows not paid and in default.
  • If the loan will not fund with a significant error
  • Incorrectly listed bankruptcy items (sometimes shown as past due or otherwise “uncollectible” rather than discharged)
  • Closed accounts improperly listed as “open”

It’s important to verify the change has been made before requesting the new credit report. There is an area of quicksand in rapid rescoring...instances when asking for a rescore may actually create negative feedback, and lower a score. Questioning charge-offs from a bankruptcy that is more than two years old, or challenging liens that have been released within the last six months, should be left alone and unchallenged. The moral is, correcting some errors may actually lead to entry of new negative data. Ask our credit repair specialists about these concerns.

Finally, it is possible to supplement your existing credit report, with a small cost of a rapid rescore. For example, if you know of errors on your credit report, start getting documents to show the error whether you order a rapid rescore or not. Our credit repair specialists will submit these documents on your behalf to the right department of the credit bureau which it may consider the documentation itself.  On the other hand, the initial cost (from $200) of a rapid rescore needs to be compared with saving a point on a $100,000 loan. As an encouragement, consider the difference between getting a 7% loan with incorrect scoring, or a 6% rapid rescore: you’d pay over $60 more every month for thirty years.

 






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