CREDIT REPAIR ESSENTIALS
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.
The "credit risk" label is based on your "credit report" and "credit score." Therefore, you need to know what those are all about. The credit score is a very important 3 digit number that a "credit risk" will need to raise. A score of 700 or more is "good." If the score is under 700, this might be problematic. This information is essential to the repair 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.
Once you have the reports, you can compare them because they may be different. Businesses may report credit information to different credit bureaus.
After the comparison, examine each report for errors. Determine the nature of the error or errors and DISPUTE THE ERRORS. This will take some time but you are the one who has to fix it.
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 the first information you need to have. Be prepared, there may be some surprises on those reports. Be persistent.
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.
The "credit risk" label is based on your "credit report" and "credit score." Therefore, you need to know what those are all about. The credit score is a very important 3 digit number that a "credit risk" will need to raise. A score of 700 or more is "good." If the score is under 700, this might be problematic. This information is essential to the repair 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.
Once you have the reports, you can compare them because they may be different. Businesses may report credit information to different credit bureaus.
After the comparison, examine each report for errors. Determine the nature of the error or errors and DISPUTE THE ERRORS. This will take some time but you are the one who has to fix it.
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 the first information you need to have. Be prepared, there may be some surprises on those reports. Be persistent.
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 Credit Counseling at
7:56 AM
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