FUNDAMENTALS TO REPAIRING CREDIT
If you have learned that you are referred to in the financial world as a "credit risk" you will want to alter this and once again be a "good credit risk." It is possible to DIY.
It is actually possible for you to travel the "repair road" with yourself as the driver. However, when setting out on this trip, you will need a triptik to break down the milestones on the way.
There are some basic steps that need to be taken to solve the credit problems that are occurring. Initially, know your credit score. A score over 700 is known to be "good." A 3 digit number under 700 can be problematic. Find out this information via your credit score.
You can gather this information by securing your credit reports. Don't be afraid to look at them. They will provide essential information. Arrange to get these reports from the Credit Bureaus. There are 3 credit bureaus: Experian, Equifax, and TransUnion. You are entitled to a free report from each once a year. There is a charge for the credit score. See www.annualcreditreport.com for details.
It is possible that each of these reports may actually be different. Therefore, it is very important to obtain all three report for comparison.
Review each report for errors after you finish comparing them. Then, you will need to DISPUTE THE ERRORS with each of the three bureaus. This will require patience and persistence.
Contact the credit bureaus in writing with a copy of the report, the errors and reason why you need to have it rectified. Remember to keep copies of everything you send. There's an old saying: "If it's not documented, it didn't happen."
This is essential information for you to have because there may be some unexpected surprises on those reports. Stay with the process, confront the issues.
It is actually possible for you to travel the "repair road" with yourself as the driver. However, when setting out on this trip, you will need a triptik to break down the milestones on the way.
There are some basic steps that need to be taken to solve the credit problems that are occurring. Initially, know your credit score. A score over 700 is known to be "good." A 3 digit number under 700 can be problematic. Find out this information via your credit score.
You can gather this information by securing your credit reports. Don't be afraid to look at them. They will provide essential information. Arrange to get these reports from the Credit Bureaus. There are 3 credit bureaus: Experian, Equifax, and TransUnion. You are entitled to a free report from each once a year. There is a charge for the credit score. See www.annualcreditreport.com for details.
It is possible that each of these reports may actually be different. Therefore, it is very important to obtain all three report for comparison.
Review each report for errors after you finish comparing them. Then, you will need to DISPUTE THE ERRORS with each of the three bureaus. This will require patience and persistence.
Contact the credit bureaus in writing with a copy of the report, the errors and reason why you need to have it rectified. Remember to keep copies of everything you send. There's an old saying: "If it's not documented, it didn't happen."
This is essential information for you to have because there may be some unexpected surprises on those reports. Stay with the process, confront the issues.
About the Author:
With unprecedented problems in the credit markets it's more important than ever to have excellent credit. For more information check out Rob Kosbergs' Detailed FREE Guide on Maintaining and Repairing your Credit Score by going to Bad Credit Repair for your FREE information.
posted by Debt Consolidation Loan at
4:32 PM
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