"if you want to raise your Fico score don't pay your bills."

At some point almost everyone has had some kind of debt sent to collections. Either by error or by default. But what most people aren't aware of is if the account has been in collections for several years paying it off will dramatically lower your Fico score. How is this possible you ask? Because Fico is designed to lower your score when old debt has been reactivated as current. When you make an arrangement with a collection agency to settle or pay a debt in full it updates that account as current. Which Fico will immediately slap you in the face.


When negative trades begin aging they have less of an impact on your Fico score. If you have decided your personal credit report needs cleaning up you should open a secured credit card or a secured personal loan. After six months of good pay history your Fico score will improve, and those old collection accounts will continue to have less of a negative effect on your credit score.

Many people are naturally honest, and want to reconcile their financial mistakes to restore their good name. But in today's world of electronic commerce old fashion values have no place in the digital information age.

About me Maximillion Richman of http://www.allexperts.com a credit restoration specialist has a new ebook out that helps consumers rid themselves of medical debt by showing them loopholes collection agencies dont want you to know about. The ebook teaches techniques that can also be used for other debts in collections. Including utility bills, credit card debt, personal loans, tax liens, auto loans, and etc. The how to guide usually retails for $99.99, buts its on sale for $39.95 for the first 100 hundred buyers.


http://store.payloadz.com/str-asp-i.224914-n.loopholes_collection_agencies_dont_want_you_to_know_eBooks_-end-detail.html