Phoenix, AZ -- (SBWIRE) -- 04/15/2013 -- Luckily, Credit-yogi.com is here to provide some suggestions about this topic, such as:

- Check Credit Reports
- Argue Old Negative Items
- Reduce the Balances on Credit Cards
- Find Funds for Debt Repayment

Obtain Credit Reports

An individual can get copies of his credit reports for free once a year by contacting Experian, TransUnion, and Equifax. Once he has the reports, he must go through them very carefully, looking for errors. In fixing his credit report, he has to dispute any negative item that is not truly his. This must be done in writing and be sent by return receipt mail. The reporting bureaus have up to 60 days to declare their decisions. If they find in his favor, the person may have up to 20% of damaging items removed.

Eliminate Old Bad Debts

One way to fix a credit score for free is to get rid of old negative charges. For example, a person’s medical insurance company never paid a years-old bill and he now has a collections account. He can go on stating that the charge is undeserved, or he can dispute it with the credit bureaus as “not his.” As a matter of fact, the older or smaller a collection account is, the less likely the collection agency will pursue it.

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Pay Down Charge Cards

The best way to fix bad credit is to pay down, or off, revolving credit such as credit cards. While taking care of installment loans such as personal loans will help improve one’s credit, lenders like it a lot more seeing revolving credit paid off. The credit bureaus weigh revolving credit much more than they do installment credit, so eliminating the balances or at least considerably lowering them on one’s charge cards will really help.

Create Cash for Debt Eradication

The only way to fix bad credit fast is to pay off all of one’s debt. If one doesn’t have the funds to do so, he must devise a way to get them. One possibility is by borrowing the necessary amount from someone who can afford it. Another option is to utilize the equity in one’s home by getting a loan against it. The same method can be applied to one’s IRA at work. Borrow some money from it and get rid of the debt. One more idea: Use some savings.

About Credit-yogi
www.Credit-yogi.com is a hard-working, no-charge website located in Pittsfield, Massachusetts that helps link people who need answers to financial questions and the experts in that field who can provide them. For a free informative conference, dial 866-964-9644.