How to fix your credit is something that you, along with many other people in the US, probably want to learn. Well, this could actually be a good thing. Wanting to learn how to fix bad credit indicates that you want to rise above your situation. If this is so, good for you! Bad credit is bad for your credit score in particular and for your life in general. Some insurance companies charge higher rates for people with bad credit. Utilities providers do spot checks of credit records. In short, bad credit won?t do you any good.
On the upside, having a good credit score provides you with lots of opportunities. You have higher chances of being hired, promoted or getting a salary increase than others. Also, you are eligible for loans during times when you need cash for a project. In short, a better credit score contributes to a more comfortable life.
Now, it is generally known that some people pay others to fix their credit for them. But, didn?t you know that you don?t need professionals to fix your credit for you? You can do it! Plus, when you decide to repair your credit on your own, you save money that would only go to the fees charged by the professionals. And so, here are tips that you can use if you want to repair your own credit.
Obtain copies of your credit reports
Yes, you have to start with this basic step. In order to repair your credit, you have to know what needs repair. As such, securing a copy of your credit allows you to take a peek at everything you have done that gave you bad credit in the first place.
The place to get your credit reports
The three credit bureaus are the places to secure copies of your credit reports. By law, you are entitled to free copies of your reports each year. All you need to do is ask. Now, as you are currently reading this article over the internet, it would suffice to say that you know your way around cyberspace. Actually, you can get your free copies from AnnualCreditReport.com. If you want to request a copy by mail or phone, you can do that, too.
What to do with your credit reports
Patiently go over the items on your credit reports. This might take some time if you have a considerably lengthy credit history. Basically, you will find your personal data, detailed credit history, any listed public records such as bankruptcy, and inquiries about your credit report. Sift through all that and look for data that you might need to repair.
What are the things that you can repair?
One, look for wrong information on your report like a listed account which is not yours or payments made which were wrongly reported as late. Two, look for past due accounts that have already been charged off, sent to collections or late.
Dispute the mistakes with the credit agency
The wrong data on your credit report reflect negatively on you; that is why you need to dispute them. For this, you have to inform the credit agency of the mistakes made on your report. The best way to do this is by sending a letter of dispute, a copy of supporting documents to validate your dispute, and a copy of the credit report showing the mistakes. You can mail this to the credit agency and wait for what they have to say.
After doing the steps given above, you can only wait for the results. In the mean time, you can give yourself a pat on the back for learning how to fix your credit on your own.
On the upside, having a good credit score provides you with lots of opportunities. You have higher chances of being hired, promoted or getting a salary increase than others. Also, you are eligible for loans during times when you need cash for a project. In short, a better credit score contributes to a more comfortable life.
Now, it is generally known that some people pay others to fix their credit for them. But, didn?t you know that you don?t need professionals to fix your credit for you? You can do it! Plus, when you decide to repair your credit on your own, you save money that would only go to the fees charged by the professionals. And so, here are tips that you can use if you want to repair your own credit.
Obtain copies of your credit reports
Yes, you have to start with this basic step. In order to repair your credit, you have to know what needs repair. As such, securing a copy of your credit allows you to take a peek at everything you have done that gave you bad credit in the first place.
The place to get your credit reports
The three credit bureaus are the places to secure copies of your credit reports. By law, you are entitled to free copies of your reports each year. All you need to do is ask. Now, as you are currently reading this article over the internet, it would suffice to say that you know your way around cyberspace. Actually, you can get your free copies from AnnualCreditReport.com. If you want to request a copy by mail or phone, you can do that, too.
What to do with your credit reports
Patiently go over the items on your credit reports. This might take some time if you have a considerably lengthy credit history. Basically, you will find your personal data, detailed credit history, any listed public records such as bankruptcy, and inquiries about your credit report. Sift through all that and look for data that you might need to repair.
What are the things that you can repair?
One, look for wrong information on your report like a listed account which is not yours or payments made which were wrongly reported as late. Two, look for past due accounts that have already been charged off, sent to collections or late.
Dispute the mistakes with the credit agency
The wrong data on your credit report reflect negatively on you; that is why you need to dispute them. For this, you have to inform the credit agency of the mistakes made on your report. The best way to do this is by sending a letter of dispute, a copy of supporting documents to validate your dispute, and a copy of the credit report showing the mistakes. You can mail this to the credit agency and wait for what they have to say.
After doing the steps given above, you can only wait for the results. In the mean time, you can give yourself a pat on the back for learning how to fix your credit on your own.
About the Author:
Searching for ways to fix bad credit? Discover effective tips on how to fix your credit.
No comments:
Post a Comment