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Credit Repair – Dave Ramsey on rasing your FICO credit score

Dave Ramsey shared financial advice on FICO credit score. Don’t just repair your credit eliminate your debt. Tips from the Total Money Makeover Book
Video Rating: 4 / 5

www.ScoreMoreCredit.com – Credit expert, Brian Diez, reveals how to repair your credit by negotiating collections for deletion or settlement.

20 Responses to “Credit Repair – Dave Ramsey on rasing your FICO credit score”

  1. This is a must see. Google the term “SECRET RICH PLAN” and go to the first site. Then click on the LIFE INSURANCE page to see what the rich are trying to hide for themselves. If you are tired of being poor, then this will brighten your day up.

  2. Well said Dave!!!!!

  3. It’s interesting that when I heard 0 credit score, I freaked out immediately wwwhat? 0 credit score. I will be screwed forever. But, I listened to what he said again, And again. Then, I heard something that was hard to hear, Hard to understand.. Actually, Walk into a bank with a big down payment. HA. Walking into a bank with cash. They would freak out.. a manager will have to be called over to deal with someone who has cash. Imagine that.

  4. All the mortgage companies and banks I have encountered require a FICO score. My Mother-in-law could not get a mortgage on her totally owned property because she had had no debt record for over 10 years. No negative marks, no unpaid bills, no late bills, No FICO score, no mortgage. No Mortgage even with Churchill Mortgage. I am willing to be proven wrong.
    twitter (dot) com / ggallman

  5. He actually recommends buying the house with cash.

  6. No so true. Like he said you can get a loan but at what rate ! I am dept free but for the house and have an 816. I think I will get a better deal then what he is talking about . After all what he is saying is you still have to go to a bank for a mortgage.

  7. Regardless of the balance, keep in mind doing a cease and desist on an account within the SOL only gives them another option to sue. Also, if you request proof of the debt you’re letting them to request proof of the debt. If it goes to a suit, now they have all the information they need to: “Judge, Lamarodom request debt validation and didn’t respond to our requested when sent him proof of debt..”. It doesn’t always happen like that, though. For additional questions ask your attorney.

  8. The damage is done. What’s your FICO, was the debt validated?, and do you have the money to pay it?

  9. It goes on by your state law. We are not attorneys and cannot give you legal advice.

  10. Not all collection agencies are debt buyers—that is a myth. Also, not all collection agencies pay collection agency.

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  12. does calling to negotiate to settle open the sol even if you haven’t paid it yet?

  13. Yea can you explain that as well, because I have over $1000 & I just started negotiating and after that I will dispute to get it taken off.

  14. u mention in the video at 5:00 mark if the debt is over 1,000 u shouldn’t dispute because u may get yourself into trouble. can u elaborate on what u mean by this?

  15. i have a question i wanted to ask … I have a few accounts in collections that have been in collections for a while now. i have now saved up all the money need to pay everyone off in few, i wanted to ask what is the best way to do that to rise my score .. 2013 i want to buy a new car .. Question being should i may payments until it pay in full to show a history of payment on my report or just pay them off and ask them to take off the accounts from my reports?

  16. Closing accounts removes the available credit from your debt ratio. The likely result is your debt ratio increased significantly. The accounts will remain on your credit for 7 years. To lower your debt ratio you could either pay down your balances, get credit limit increases, or add more trade lines.

  17. Hi I have a question I closed many of my cc accounts over a year ago but I have been told that it has negatively affected my credit score even though they were paid in full on time. When will the closed accounts delete from my credit report? And what can I do to raise my score?

  18. Great information. Thank you.

  19. Good info, my husband and I were owners in an agency. The most important part to understand is, if the item is not deleted it stays the same. The deletion is the most important thing. I would ask for a letter that is clear. If the information is 2 or more years old it is not affecting your score like you think. Usually the creditor is looking at a 2 yr snapshot of your credit. From my 15 yrs of experience I say leave the old alone and start some positive reporting.

  20. Great information!