Yahoo Finance labelled Alex Miller as one of the top businessmen to watch in 2020 and rightly so. His firm, Alex Miller Credit Repair has taken the credit repair industry by storm, generating revenue worth millions of dollars. Although the credit repair industry is full to the brim with firms claiming to turn around client’s credit scores, not many manage to come through. Out of those which do repair their customer’s negative scores, most take years to fix them, making the whole process sluggish and full of frustration for the client. This where Alex’s firm comes in, making its mark specifically because it produces results, fast.
Utilizing Miller’s own ‘3 Round Burst Strategy’, the firm produces results in days and also provides the services of credit analysis, free of cost. Alex sure knows how to make the process of credit repair not just efficient but effective as well, proving that he has rightfully earned the ‘Credit Repair King’ title. In this article, Alex sheds light on the top 3 ways to fix your bad credit.
Know the Factors That Affect Credit Scores
You will never be able to fix a bad credit score if you do not know the factors which affect it. Miller explains that various factors are taken into consideration while compiling your credit report. These include your payment history, the ratio of your credit utilization, the types of credit accounts you have on your report, bankruptcy and many more.
To turn your credit score around for the better, you must have complete knowledge of the factors that affect it. You will be able to avoid practices that are resulting in a low score for you only if you are aware of them.
Start Paying on Time
If you have too many negative accounts and your credit score is low, you will find it hard to do almost everything in the society, be it renting a house or getting a loan. “Late payments are usually the number one reason behind a bad credit score. Most people are surprised to find that late payments can drop your scores lower than bankruptcy”, states Alex.
So, get in the habit of paying what you owe on time, Miller advises. However, one must keep in mind that trying to repair your credit score on your own, without professional help, can be a lengthy process. You will have to ensure that you make payments on time for 2 years in a row to cancel out the negative effect of one late payment.
Dispute Any Errors in Your Credit Report
There’s a chance that your credit reports may contain inaccurate information. Check your credit report thoroughly, your social security number, address and everything else. Sometimes, credit report companies mix up credit scores, meaning a negative account that isn’t actually yours shows up on your report. These can significantly lower your credit score, creating financial problems for you in the future.
Alex is of the opinion that everyone must always check their credit report as soon as they get it and states that it is the first thing the team at his firm does when a client approaches them. To be able to fix your credit score, you will need to be fully aware of your report. If you find any errors, gather up the evidence, contact the credit score bureau and ask them to correct it.