There are innumerable reasons explaining why a person would want a better credit score in a shorter span of time, for example because of a loan application, mortgage or simply because fixing credit is a must for getting a job. However, there are mistakes that consumers usually do, it is mainly because the ignorance of the effects of some actions like closing dormant accounts over their scoring and so on, then it is important to be informed about these ones in order to get the results you expect.
Firstly, it is a kind of myth or something, but is generally accepted that, the more closed accounts, the lower your debt and then the better your credit score. However, if you do precisely that but in a short period of time you will get negative effects over your rating, this is mainly because it takes time for your credit report to detect all closures and most important than that, because your credit ratio get increased, meaning that your current credit balances are now being spreading out over less credit accounts or credit account base. Then, if you are applying for a loan or your overall debt balances are too high, closing dormant accounts is not recommendable at all.
Secondly, it does not mean that you should not close them, but it is all about the right time or period of time, plus in some cases you can use them for rebuilding your credit. However, those accounts that you are certain you will never use and that you got open just for impulse must be closed without hesitation, but in these situation is advisable being pro active and inform the bigger credit reporting Bureaus about your account closures attaching all supporting documents. This is important for reducing the span of time needed for getting your credit report updated.
Last, and only if you have the chance, there are credit repair companies that work with your credit score in mind, meaning strategic disputes and actions for getting your credit rating improved, so if you can afford a small reasonable price just do it, making sure yourself of course, that you are dealing with a trusted and reliable credit fixing service.
Summing up, it is highly recommendable being proactive cleaning your bad credit records and get the benefits of a cleaned and healthy credit report, while this might be done by yourself in some circumstances, it is advisable specialized advise in others.
By researching and comparing different credit restoration agencies, you will be able to determine, the one offering a highly rated credit repair service at a reasonable price.
However, it is in your best interest going with a trusted and reputable credit repair company, this way you will save time and money by getting fast results and excellent return on your investment.
Hector Milla runs the Best Credit Repair Services website, where you can see his best rated credit repair companies recommendation, and the My Free Credit Report resources center.
Find out how to get your credit report fixed in no time at a reasonable price and how to get a 3 in 1 free credit report respectively. Visit for further information.
Article Source: http://EzineArticles.com/?expert=Hector_Milla
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