Fix my credit report - For the 3 mistakes when it comes to collections

This is the question "how to fix my credit report, which remain in the back of your mind? The growing importance of the FICO goes beyond the purchase of houses and luxury cars. Creditors are not the only people who are interested in your credit score three figures. Employers, owners and insurers are pulling the credit file in order to decide the fate of its application. The growing importance of the FICO credit score is a simple need good .

When it comescredit repair, there are plenty of misconceptions about what hurts your score and what does not. Let's look at the most popular myths associated with collection agencies.

1 Myth # 1 You must always pay the bills of collection.

Say you have a bill from a medical bill that is 2 years. Under the FCRA and FDCPA you have the right to challenge the legitimacy of any bill that comes to you collection.It is called debt validation. The collection agencies are required by law to cease all collection activities until they validate the debt. Since most of your debts, but I sold to various collectors along the way, you may be surprised to discover that most of them have no proper documentation. Never pay for a collection until the debt has been verified.

2 Myth # 2 You have to pay the bill for collection FULL.

Collection agencies! Poor pay literally pennies for every dollar that I owe. The amount payable depends on age of account (5.6 cents per dollar for the accounts of the past or a penny or less for the elderly and accounts out of state). In other words, collection agencies are still doing quite a good profit you, even if you settle for 20% or less of the total. always aim for the lowest possible resolution.

Myth # 3 3> Collection agencies are entitled to call anytime.

Wrong! For collection agencies to stop calling, just send a cease and desist letter and say they are only allowed to contact you by postcard mail.Under Fair Debt Collection Practices Act, collection agencies are also forbidden to call after 21: 00 and before 08:00 (FDCPA, c. 805), harassment or use of offensive language (FDCPA,Section 806), intended to garnish your wages, seize property or stopped (sec 807). The violation of these terms gives the right to sue.

The case of collection agencies is just one example that more is known about the credit system, the greater the possibility of repairing your credit score. There are many little tricks and secrets to take credit for the land of "good credit" as fast as thought. The answer to the question "how to fix my credit report"is simple: to acquire knowledge and start thinking outside the box credit.