Fundamentals to Repairing Credit
If you know that you are what is called a “credit risk,” you probably are feeling that as a derogatory connotation. That can be the motivating factor for you to explore the return to good credit.
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.
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.
You will document any and all errors along with the reasons for the errors. You will send this written documentation with a copy of the credit report to each agency. Remember to keep copies of all documentation 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.