Best Ways to Settle Credit Card Debt FAST:

1. Hire The Best Debt Settlement Company
2. Do It Yourself Debt Negotiation Elimination

I got told to always pay off my cards etc in full every month when I started to investigate credit repair This was one of the best credit repair secrets I was given. A lot of different sources told me the same thing. This is far from reality. The more important aspect I discover was my debt to credit ratio and then a simple way to repair your credit score.

First you must understand your debt to credit ratio as it is the most ignored factor in credit scoring. In essense it is what you HAVE borrowed against what you CAN borrow.

For example:
Your available credit = $10000
Your current debt = $2500
Your debt/credit ratio = 25%

Why is it lenders prefer you don’t pay off your bills in full? For one they make a bigger profit from interest, and by maintaining a balance you show discipline.

So how can you exploit the ratio and improve your score by having an outstading balance?.

The single most cost-effective tool is the use of a sub-prime store merchandise card which reports to one of the major credit bureaus. These cards are often misunderstood because of the way they are marketed either by email or on the Web. The public often don’t trust the claims they make but some of them are genuine.

How does it work?

You need to apply for a card that is good for purchases from just one place, like a catalogue or online store.

Anyone gets approval and you will get a line of credit of $5000 to be used only at that place. When you make a purchase you will need to give a deposit and then finance the rest. So, for example you buy $1000 of stuff, put $300 down and make payments on the $700 balance.

The fast credit repair secret is that the credit bureau sees it like any other credit card. So, overnight you have improved you debt to credit ratio and are now holding a balance. You will then receive pre-approved offers from other lenders who have got your details from the credit bureau. So you can do credit repair yourself.

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