Basics of Credit Repair
People who know they have "bad" credit and are a big "credit risk" are usually aware that something has to change with the way they manage their money and debts.
You will need the "do it yourself" directions to assist you with this time consuming and sometimes discouraging project. However, you will be proud of the finished project.
First you need to find out what your actual "credit score" is because it is this 3 digit number that you will want to raise. A score over 700 is considered "good", but under 700 may be problematic. This knowledge is fundamental to the process.
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.
A business does not always report to the same credit bureau. Therefore, you want to see all 3 reports for comparison. It is possible that they may differ.
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.
Document all errors, and the reasons why you know they are errors and send this in writing (with a copy of the credit report) to any or all, if needed, credit bureaus. Definitely retain COPIES OF EVERYTHING for your records.
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.
You will need the "do it yourself" directions to assist you with this time consuming and sometimes discouraging project. However, you will be proud of the finished project.
First you need to find out what your actual "credit score" is because it is this 3 digit number that you will want to raise. A score over 700 is considered "good", but under 700 may be problematic. This knowledge is fundamental to the process.
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.
A business does not always report to the same credit bureau. Therefore, you want to see all 3 reports for comparison. It is possible that they may differ.
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.
Document all errors, and the reasons why you know they are errors and send this in writing (with a copy of the credit report) to any or all, if needed, credit bureaus. Definitely retain COPIES OF EVERYTHING for your records.
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 never before seen challenges 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
4:30 PM
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