A New Credit Way Credit Repair

01/19/2022

Quick credit tips. You’re welcome 😉

12/19/2021

I want to first thank God for allowing me to make it to see another year. I am so grateful and have so much to accomplish this coming year. Thank you so much to everyone who has wished me a happy birthday, I appreciate all of the love ❤️

If you or someone you know are looking to buy, sell or invest in a home, contact me today!

Sharnetta Byrd, Realtor ®️
The Avalon Realty Group
919.751.6529
[email protected]
Http://Sharnetta.easternnorthcarolinahomesearch.com/

05/16/2021

Understanding how your credit score works can help you boost it so you can qualify to buy your dream home. If your credit is 600 and above, you’re already in good shape!

04/06/2021

Improving your credit now, can mean lower interest rates on credit in the future.

04/04/2021

01/22/2021

Step 6: Have at least three revolving credit lines and one active (or paid) installment loan listed on your Credit Report. The scoring system wants to see that you maintain a variety of credit accounts. It also wants to see that you have 3 revolving credit lines. If you do not have three active credit cards, you might want to open some (but keep in mind that if you do, you will need to wait some time before rescoring). If you have poor credit and are not approved for a typical credit card, you might want to set up a "secured credit card" account. This means that you will have to make a deposit that is equal or more than your limit, which guarantees the bank that you will repay the loan. It's an excellent way to establish credit. Examples of an installment loan would be a car loan, or it could be for furniture or a major appliance. In addition to the above, having a mortgage listed will bring your score even higher.

01/21/2021

Step 5: Do not close your old credit card accounts. Old established accounts show your history, and tell about your stability and paying habits. If you have old credit card accounts that you want to stop using, just cut up the cards or keep them in a drawer, but keep the accounts open.

01/20/2021

Step 4: Pay all credit cards and any revolving credit down to below 20% of the available credit line. This step alone can make a huge impact on your score. The credit scoring system wants to make sure you aren't overextended, but at the same time, they want to see that you do indeed use your credit. 30% of the available credit line seems to be the magic "balance vs. credit line" ratio to have. For example; if you have a Credit Card with a $10,000 credit line, make sure that never more than $3000 (even if you pay your account off in full each month). If your balances are higher than 30% of the available credit line, pay them down.

01/19/2021

Step 3: If you have any negative marks on your credit report, negotiate with the creditor or lender to remove it. If you are a long time customer and it's something simple like a one-time late payment, a creditor will often wipe it away to keep you as a loyal customer.

However, if you have a serious negative mark (such as a long overdue bill that has gone to collections), always negotiate a payment in exchange for removal of the negative item. Always make sure you have this agreement with them in writing. Do not pay off a bill that has gone to collections unless the creditor agrees in writing that they will remove the derogatory item from your credit report. This is important; when speaking with the creditor or collection agency about a debt that has gone to collections, do not admit that the debt is yours. Admission of debt can restart the statute of limitations, and may enable the creditor to sue you. You are also less likely to be able to negotiate a letter of deletion if you admit that this debt is yours.

01/18/2021

Step 2: Correct all inaccuracies on your Credit Reports. Go through your credit reports very carefully. Especially look for; Late payments, charge-offs, collections or other negative items that aren't yours, Accounts listed as "settled," "paid derogatory," "paid charge-off" or anything other than "current" or "paid as agreed" if you paid on time and in full, Accounts that are still listed as unpaid that were included in a bankruptcy, Negative items older than seven years (10 in the case of bankruptcy) that should have automatically fallen off your report (you must be careful with this last one, because sometimes scores actually go down when bad items fall off your report.

It's a quirk in the FICO credit-scoring software, and the potential effect of eliminating old negative items is difficult to predict in advance.

Also make sure you don't have duplicate collection notices listed. Any duplicates must be removed! Make sure that your proper credit lines are posted on your Credit Reports. Often, in an effort to make you less desirable to their competitors, some creditors will not post your proper credit line.

01/17/2021

For the next 7 days we will be posting steps to help you increase your credit score quickly.

Step 1: Order fresh new copies of your credit reports from all 3 bureaus: Equifax, Experian and TransUnion.

A good rule of thumb to know is: If someone else runs your score or reports, this will hurt your score. However, if you order your own credit reports (which we will help you with) your score will not be affected.