*Loan,banking and credit>>>credit repair

Whats the best way to repair your credit?

I need to get some things removed/closed/repaired on my credit report- whats the best way to do so?

Here's how the credit scoring system works.

35% : Bill-paying record
30% : Outstanding debt relative to your total credit limit
15% : Credit history (how long you've had credit)
10% : Credit mix (can you manage different types of credit)
10% : Pursuit of new credit.

So, in order to raise your score, you should:

1. Pay all your bills on time
2. Keep credit use low (but not zero). Not using your credit doesn't tell anything about how you manage credit
3. DON'T close old accounts. If you do that, the reporting companies can't see how long you've handled that particular debt
4. Get different types of loans (consumer, auto, ...)
5. Don't apply for every credit card in sight. But when you do apply for credit, feel free to shop around. All inquiries made within a reasonable time frame (14-30 days) count as one inquiry.

For a detailed overview of the credit scoring system, visit http://financialbasics.blogspot.com/2006...

You can order your credit report from http://www.annualcreditreport.com... and you're entitled to one free copy per year per bureau. In case there's erroneous information, you should write them a letter to dispute the contentious entry. For a step-by-step guide on removing erroneous items from your credit report, visit http://financialbasics.blogspot.com/2006...

It even includes a sample letter to be sent to the reporting agencies.

Hope that helps Source(s): http://financialbasics.blogspot.com...