Doing a Quick Credit Rescore
Since most interest rates are based largely on your FICO score, a credit report with incorrect data can cost you a lot of money. A credit rescore is the process of recalculating your credit score to reflect your true credit rating. Rapid rescore is a tool that allows newly documented and verified information to be reported and updated to the databases of all three credit reporting agencies in three to five business days. Depending on the information, this can potentially result in a dramatic improvement in your credit score. a 40 to 50 point increase is the norm but we have seen 100 point increases as a result.The Difference Between Credit Repair and Credit Rescore
Credit repair is the process of improving your debt by contacting collectors and credit card companies to negotiate ways to pay on delinquent bills or disputing delinquent loans and credit lines. You can have a debt consolidation company help you with this or you can do it yourself.Rapid rescore is different from credit repair in that it occurs after you have taken action on your credit, and you just need to have the items that are resolved removed from the calculation of your FICO score. A lender or credit rescore specialist can help you with this process. Call for details.