You may also use a rapid rescore if you have paid off certain debts of your own, not just for incorrect information on a credit report.

A rapid rescore will be done based on your word as the client as well as paid by you, being as upfront with your loan officer as possible can save alot of time and money...Rapid rescoring is not a cureall and can actually lower a score...Have good documentation in regard to anything being disputed...

Consumers often get confused over a credit supplement verses a rapid rescore. A credit supplement is often times obtained to fill in missing or incorrect information on the report. However, a supplement does not change the scoring and cannot be used for a rescore. Your report can only be rescored with documentation directly from the creditor that contradicts the information on the report.

Completing a rapid rescore will involve additional fees. Though it may appear expensive to have it done, the money that you will save over the life of the loan will more than compensate for the fees charged.

In order to quickly and accurately process a Rapid Rescore you will need documentation of the innaccuracy. All documentation should be on the creditor's letterhead and reference the exact account number and an explanation of what exactly needs to be corrected.

There is no guarantee that having a rapid rescore done will increase your credit scores.

Sometimes consumers mistakenly assume that ANY negative mark can be erased through Rapid Rescore, even if the negative mark is accurate. The truth is, you must have full documentation to have the negative entry removed.

The typical fees for a rapid rescore is $25 per credit line per credit bureau.