Payment history accounts for 35% of your FICO score, so in order to fix credit score you want to really pay attention to those un-paid charge off accounts or accounts sent to collection agencies. Since your credit score is highly impacted by how you have paid your debt, having charge off or collection accounts in your credit report adversely affects your credit scores.

What’s the best way of dealing with collection agencies to lower Collection Accounts for pennies in order to fix credit score ?

There are two things you can do with collection accounts in order to fix your credit scores:

1-      Negotiate the Charge Off / Collections accounts for cents on the dollar.

2-      Have a credit restoration company have the reporting agencies delete those accounts by finding loopholes in the steps the credit reporting agencies (Trans Union, Equifax, Experian) took before reporting those negative items in your credit report.

Let’s start by addressing how you can negotiate un-paid collection accounts for pennies on the dollar. You see, when you have gone from 30, 60,90, or even 120 days without making your payments, the original creditor (Macy’s, Chevron MC, etc) who offer you credit  gives up upon you,  the mark the unpaid  account the debt as a “Bad Debt” in their books and they report your account as “Charge Off” in your credit report.

The original creditor come back and sells the “Charge Off” account to a collection agency and from that point on you no longer hear from the original creditors but instead you start receiving nasty phone calls or letters from the annoying credit collection agencies.

Now, when the original creditor sold the “Charge Off” account to the collector, the account was probably sold for 50% of the value. For example, let’s say that you defaulted on a visa credit card with a balance of $1,000, the charge off account valued at $1,000 would probably be sold for $500 to a collection agency the first time around. The collection agency will then come back and try to collect over $500 dollars from you… this is how they make money their money.

So, what happens  when the first collection agency can’t reach you or can’t collect anything from you for a while, they will try to sell your collection account along with a bunch of other collection accounts to another credit collection agency but this time, your account will be sold for 25% of the original value of the collection… so, if they sent you to collections for the first time for $1,000, the first time your account was sold to a collector it was probably sold for $500, then, the second time it was sold, it was probably sold for $250 and if this process repeats again for a third time, your account will be sold for 10% of the original value or $100.

Here is where debt negotiation comes handy to fix credit score!  Knowing this valuable information is helpful when you sit on the negotiating table with the collection agencies. Now you have the knowledge needed negotiate your $1,000 collection account for a measly $150 or for $200.

Now, after you have settled the debt, make sure to have the collection agency give you a “settlement letter” and even though the collection agency might have told you during the negotiation time that they would delete your “paid collection” account from your credit report, they never do, simply because they are not “Credit Reporting Agencies”…. They are collection agencies and their job is to collect!

Fortunately, a credit restoration company like Ucan2 Financial Solutions can help you have the credit reporting agencies delete those “paid collection” or even “un-paid” collections from your credit report by enforcing your right under the “Fair Credit Reporting Act.”

For more information on how Ucan2 Financial Solutions can help you negotiate debt to fix fico score, and to read more information about the “Fair Credit Reporting Act”, visit our website at http://www.ucan2financialsolutions.org

Probably, the fastest way to fix credit score is to hire a professional credit restoration company. While you can try to repair credit yourself, it’s always good to have a professional on your side handling your affairs.

For example, if you committed a crime and you were arrested, you have the right to have an attorney represent you in court. While the law says that you have the right for representation, you can always represent yourself in court. But, I don’t think that if you committed a crime you would even think about going to court on your own, right? Well, it’s exactly the same scenario in the credit restoration field. While you can try to fix credit score on your own, it’s always best to have a professional on your side do the credit restoration for you.

How can a credit restoration agency help you fix credit score?

You as the consumer have rights! Rights that are stated in the “Fair Credit Reporting Act” which consist of 86 pages written in “attorney language” and it’s posted in the government’s FTC website. While you can study the 86 pages yourself and prepare a plan of attack to dispute the inaccuracies that are adversely affecting your credit rating yourself, it’s better to rely on a professional credit restoration company to do the heavy lifting for you.

A professional credit restoration company will use the Fair Credit Reporting Act in your favor to have the credit reporting agencies (Transunion, Equifax, Experian) delete anything (late payments, charge-offs, repossessions, collections, paid or un-paid collections, foreclosures, short sales, judgments, tax liens, IRS liens, bankruptcies) that is affecting your credit score.

How do credit restoration companies can have your negative items deleted from your credit report?

This is the deal… The credit reporting agencies (Transunion, Equifax, Experian) do approximately 6 million entries into their databases every single day. Of course, these entries are made via computer software from the creditor’s computers to the credit reporting agencies databases.

According to the Fair Credit Reporting Act, the credit reporting agencies are required by law to verify certain information before they enter both good and bad items in your credit report…

BUT, NEVER DO IT!!! It would be impossible or maybe too expensive for the credit reporting agencies to verify your name, social security #, address, DOB, Driver’s License, etc, before they enter a negative item into your credit report. Imagine how much staff would it be needed to verify the accuracy of 6 million entries daily. This would cost the credit reporting agencies way too much money. This is one of the biggest loopholes that the credit restoration companies use to have the credit reporting agencies completely DELETE any account that is adversely affecting your credit rating!

Ucan2 Financial Solutions utilizes a unique approach to help you fix your credit score super fast. You could even see results in 30 to 45 days! For a flat fee of $699, Ucan2 Financial Solutions will question the reporting accuracy of ALL negative items affecting your credit rating to fix your fico score for good for a whole year!!!

Ucan2 Financial Solutions will work for a full year disputing all of your negative credit items in intervals of 30 days until most if not all of your negative items are completely deleted from your credit report.

To learn more about Ucan2 Financial Solutions and to discover how you can fix credit score super fast, please visit our website at http://www.ucan2financialsolutions.org