wayne asked in Business & FinanceCredit · 9 months ago

How to improve credit FAST?

Does anyone have any tips and tricks to improving credit fast? Unfortunately I had amazing credit, never missed a payments and then I took something out for my mother on credit. We did this whilst in a house move, we completely forgot all about the credit and missed all the payments. All the letters had been sent to the old address, we finally found out but by then it was too late. The account had roughly 6 late payments in a row and my credit had been destroyed to say the least. I went from 650ish down to 160 currently. I'm so upset, I feel stupid. Years of looking after my credit and it's all gone in a matter of months if that. I really want to get back on track, any ways to improve my credit would be greatly appreciated. Also I have heard there could be a way of getting the company to remove these reports from the credit agency is this true?

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  • 9 months ago

    A default on your loan will stay on your credit report for over seven years.

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  • 9 months ago

    There is no fast way to improve your credit.  Did you not put in a change of address when you moved?  About all you can do now is contact the creditor and make payment arrangements.

    Good luck.

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  • 9 months ago

    The issue was in your name - so the bad credit is entirely yours.

    It'll take years to rebuild your credit.

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  • Pam
    Lv 6
    9 months ago

    By now the credit card company probably sold your account to a credit collection agency. After 7 years, the debt is erased so if they can't find you, it's their problem. However, in the meantime your credit will suffer. Try calling a credit repair place to get some professional advice on how to start repairing your credit. I would be upset too.

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  • 9 months ago

    You cannot improve it fast. The trick to improving credit is to stop trying to improve it fast. You cannot improve credit when you are trying to improve it fast.

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  • 9 months ago

    There is no fast route to improving your credit when it has been severely damaged. It is a slow process. First step - pay off your debts. Once you have no more debts, and are paying off big debts "as agreed", then expect it to take 2 - 5 years.

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  • 9 months ago

    There is no way to do a fast repair. Damage can occur quickly, repair takes time.

    And there's a problem with your story. The lowest FICO score is 300 - no such thing as 160, and 650 is considered to be in the Fair range, the next step up from Poor.

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  • Anonymous
    9 months ago

    Go live under a bridge for the next 7 years.....problem solved.

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  • 9 months ago

    I don't believe you because you say you had an "Amazing" credit score then mention 650ish which is mediocre at best, and lousy by most people's standards. Other than someone who literally just got their first loan/credit account within the last 6 months, anyone with a 650 score has missed payments or had some relatively serious flaw in their history.

    Then you went full retard and mentioned a score of 160, even though the lowest score possible in the standard scoring methods is 350.

    Even if your story is true, moving house is no excuse. You signed for a loan of some sort, it was your job to follow up and make payments. If you had filed a change of address form with the USPS, they would forward the letters AND notify the sender of your new address. Plus you likely provided email and phone number with the application, so you either committed fraud by providing false (fake) contact info on the application or you failed to respond to phone calls and emails as well as failing to make your payments and handle mail forwarding.

    There is no quick fix, lenders deserve to know that you are the type of deadbeat who misses payments and makes excuses rather than taking proactive steps to manage your own finances and pay your debts.

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  • Anonymous
    9 months ago

    If you are going to just troll, at least do a little research. The values you gave for your credit score do not correspond to any of the major credit scoring models.

    But since you asked...you didn't destroy your credit overnight and you aren't going to fix it overnight. You can of course ask a creditor to remove the negative marks, giving them some reasons why you were late and why you want them to remove the marks. But then again you could ask them to send you 1.5 Million dollars. That would probably be met with equal success.

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