FUNDAMENTALS TO REPAIRING CREDIT
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.
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.
Credit Bureaus will be the source of this information. There are 3 credit bureaus: Experian, TransUnion, and Equifax. One can get a free credit report from each every year. There is a fee 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.
When you finish comparing them, review each report for errors. You will need to DISPUTE ANY ERRORS. There is no quick fix, but repairing your credit is a work in progress.
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."
Please approach this part of the process carefully as you would any DIY project. Deal with problems along the way, stay calm and this part of the project will get finished.
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.
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.
Credit Bureaus will be the source of this information. There are 3 credit bureaus: Experian, TransUnion, and Equifax. One can get a free credit report from each every year. There is a fee 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.
When you finish comparing them, review each report for errors. You will need to DISPUTE ANY ERRORS. There is no quick fix, but repairing your credit is a work in progress.
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."
Please approach this part of the process carefully as you would any DIY project. Deal with problems along the way, stay calm and this part of the project will get finished.
About the Author:
With unprecedented challenges in the credit markets it's more important than ever to have excellent credit. For more information visitRob Kosbergs' Detailed FREE Guide on Maintaining and Repairing your Credit Score by going to Bad Credit Repair for your FREE information.
posted by Credit Counseling at
4:31 PM
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