Biggest TIP when re-estabilishing your Credit FICO scoring:

After a Notice of Default, Foreclosure, Short Sale or Bankruptcy -

How will you fix the FICO Scores you ask ?

 

 

 

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1. Obtain 3 separate SECURED credit accounts (All with the same bank is OK.)

2. Make sure they all are reported to Credit Bureaus as CREDIT Accounts -  ( VERY IMPORTANT )

3. Next: Once your new credit card accounts are set up, you make a purchase with each of the cards, keeping the max allowed credit limits to 45% of the maximum limit allowed.

4. Now you will make minimum monthly payments on each credit card account continuously for the next 24 to 36 months, if balance pay off is close - Make another purchase keeping ontime monthly payments going. "NEVER MISSING A MONTHLY PAYMENT". 

5. Since, as of now, each credit Bureau allows consumers 1 free credit report per year, you can use this to start checking your FICO scoring after 6 months of ontime payments to monitor the reported payments and dispute any error.

6.  Use the links below for more detailed information from CapitalOne

7. Never close a Credit Card Account  ( doesn't make sense, but it will negatively affect FICO Scoring ) - So, Keep credit card accounts open and use it every so often to keep in good standings.