There are some crucial steps that you must take to maximize the results you receive while having your credit improved.
It’s essential to know about these steps to insure you are accountable for your results, and to insure you take necessary steps to complete the credit repair process with the best results.
I created a nice acronym about these steps to make them easy to remember called S.N.A.P.
SNAP stands for Stay with us for 8 months, add New credit, add Available credit, and Pay off problematic collections.
Many consumers think credit repair is a quick fix. For this reason, some people will sign up for credit repair, then quit the program shortly after, because you didn’t see mouth-dropping results in your first couple of months.
It’s essential to understand that fixing credit is a process that takes time. You need to know that it might take 6-8 months, or longer, before you see the great results you are expecting to see.
When you set this expectation, you will give yourself the time you need to produce the best results.
For any person to gain good credit scores they must first have good credit. But many credit repair customers you might see don’t have any positive credit, or very little positive credit on their reports.
And in most cases you may be dealing with consumers who have little to no revolving credit open on their report. Without having positive credit reporting with good limits, it’s impossible for that consumer to ever really see a great credit score, no matter what they do.
This is why the “N” and “A” are so important in the SNAP steps. Because when a customer adds positive new credit and new available credit, you will likely see a good increase to your credit scores.
When are educated on this, you then are accountable for your scores. You know that if you want good scores you have to add good credit and revolving accounts with good limits to get good scores.
The last step in SNAP is to Pay off problematic collections. Most collections don’t need to be paid off to improve credit. But there are some pesky accounts that keep getting sold to different collection companies.
If you keep seeing the same account re-reported time and time again, through different collection companies, it’s in your best interest to know, that the account is going to keep getting re-reported until you pay it.
You need to know it is your choice to decide to pay it or not. But, be reminded that if the account is deleted, and it is re-reported through another collection company, it might cause a chase on your account.
If you do choose to pay-off the collection, insure you try to get the creditor to commit to a “pay-for-deletion”, where the creditor will agree to delete the negative item in return for the payment to pay-off the account.
It’s important to know what you need to do, in order to help improve your credit and scores. Several things, like adding new credit, are things you can on your own, and are crucial to having a good profile and score.
You don’t need to use the acronym SNAP, but these types of acronyms do help customers better remember what they need to do.
Choose your own acronym or use SNAP, but regardless of what you choose do, insure you are educating yourself on what you should be doing during the dispute process.
We look forward to helping you achieve your goals, and provide better opportunities for you and your family. Give us a call. We are standing by, ready to help!