credit report

credit report - Fix Bad Credit Report Repair

2007-11-14T13:33:00.001-08:00

Have you ever been turned down for a loan, a car, a house, credit card, all due to poor credit?

I have! And I was upset and depressed! And the reasons they gave me sucked even more...no credit, too little credit, enough credit but not enough income, poor score, too much debt, negative marks on your credit (30, 60, 120 days late), and the list goes on!

Well, after watching my score plummet to an all time low of 450 points, I finally realized I needed to do something about it. So, what did I do? First I researched as much as I could find on credit. I went to bookstores and read different credit repair books, then I went online and Googled "credit repair". WHOA! Talk about information overload. There are over 15 million websites devoted to this search term alone! Plenty of information for me!

After several days of no sleep and plenty of vanilla lattes...I was ready to begin the long hard journey of repairing the damage! Sure I looked at the possibility of Bankruptcy at one point, but I am not a quitter and I felt obligated to pay my debts. (side note: this isn't always the best action for everyone, but just the one I picked).

Here are my 7 steps to fix bad credit report repair

Order your credit reports. Experian, Trans Union, Equifax are the big 3 Credit Bureaus. You can order them online and get instant viewing.
Review each report for accuracy.
Jot down discrepancies in your information on a separate sheet of paper. For example, take notes on incorrect addresses, birthdates, places of employment etc.
Examine your pay history and take note of incorrect information. For example, 30 days late on a debt you have always paid on time.
Gather all this information and get ready to begin repairs!
Begin writing a letter to each of the credit bureaus that have problems or things you disagree with. You are going to want to list all the information that is wrong for each discrepancy in your letter.
Mail the letters and be patient. Once the bureaus have researched your request, they will reply to you in writing with a copy of the changes made to your credit!

Additional Tips

Write letters rather than typing them.
Mail letters certified mail'proof that you mailed them in case they say you didn't!
Be sure to you get correct address and employment information on your reports

If you follow this method I guarantee you will see results! It may take time, but keep at it! The results will vary but in the long run, having an accurate credit report is much better than a bad one! Good luck.

Eric Paton works in the auto world. He has a Masters in Business Administration and is passionate about personal credit. Wish to learn more, feel free to visit the http://www.thebizreview.org
Article Source:http://EzineArticles.com/?expert=Eric_Paton

credit report - Bad Credit Fixing Methods

May be some mistakes are made by you or may be it's your worst fortune. Somehow over the course of time you discover that you have a poor credit score. Maybe you got busy with your job, maybe there were some major family emergencies, maybe you got caught up with being out of town, the reasons this can happen are numerous. But a bad credit score does not happen overnight, and it will not get resolved overnight either. The key point to note is that you need to start NOW, because every day that you delay taking positive action towards getting your credit score delayed is yet another day that these negative reflections of you appear on the records of the credit bureaus.

Check Your Credit Report:

One should take care of getting a copy of their credit report and should carefully go through it. May be you will find some of the charges and debts on that credit report which are not actually yours. If you want to improve your credit rating quite significantly then you should clear at least one of those.

Ask For higher Limits:

Manage to get a major card, use it very judiciously. If you flounder with the payments on this card, you may just have kissed your last option goodbye. Make attempts to put in the full payments at the end of the month; that will save you from the heavy interest charges. At the same time, keep your card in action by making continuous purchases and then paying in full for them at the end of each month.

Make disputes on errors:

If you receive no response from the follow-up letter, you have to go to the lawyer, preferably one that specializes in credit repair issues. The credit bureaus are allowed to disregard disputes that they consider lighthearted. There are no guidelines given for disputes which might be considered lighthearted. Sometimes illegal options are recommended, such as file segregation. Do not create more problems for yourself.

There are credit card companies that will extend charge cards to consumers who have just emerged from bankruptcy court. Companies don't offer credit to the newly bankrupt to be kind; they are aware that once you return from court, you cannot file for bankruptcy again for another eight years. Your credit card will cost more than the average card, and you'll be forced to pay greater interest rates, but you can get credit after bankruptcy.

Open Small Accounts:

This tip would be a great help but the person using this tip should be careful regarding the worst part of it. The things like securing credit cards and charging small amounts to them each months needs good theme given in this tip which improves the credit score of the person. Then lastly and surely a person should pay them all amount at the end of the month.

Get an American Express Card:

Along the same lines as the previous tips, try to get an American express card. Charge some money to it each month.

credit report - Bad Credit Fixing Methods

2007-10-26T20:25:00.002-07:00

Check Your Credit Report:

Ask For higher Limits:

Make disputes on errors:

Open Small Accounts:

Get an American Express Card:

Along the same lines as the previous tips, try to get an American express card. Charge some money to it each month.

You can also find more info on experian credit and check your credit Creditscorereportguide.org is a comprehensive resource to find guidness about credit score.
Article Source:http://EzineArticles.com/?expert=David_Faulkner

credit report - Low Credit Score Home Mortgage Refinance

If you are beginning the process of searching for a lender to refinance your home with and you have less than perfect credit, it is important to know what options are available to you. Although the lender's approval or disapproval is contingent upon many factors, if an applicant has damaged credit then this will play a significant part in not only obtaining the loan but in the terms and rates of the loan.

Get a Copy of Your Credit Report

When you do go to refinance your home, it is important that you have an accurate copy of your credit report prior. This will allow you to read your credit report and to discern whether or not any inaccuracies have been reported. Most lenders consider the credit history of an applicant on a case by case basis. In other words, if someone has a credit report that shows only recent negative marks, then that may be looked upon differently and probably less harshly than someone who has consistent negative marks. It is important for you to explain to the lender and better yet have some proof, the reasons for your current or past delinquencies. This will give you a higher chance of approval verses that of an applicant who can't justify his or her continuous delinquencies.

Make Your Payments On Time

The other factor that a lender will analyze is how consistently are current payments being paid. If you are behind in only some payments, then that is looked upon differently than someone who is behind in all payments. It also makes a difference as to what types of loans that an individual is behind in. For example, if you are behind in some credit card payments, then that will be reviewed differently then if you are behind in your mortgage or auto loan payments. Likewise the age of the delinquent accounts, and the amount of their outstanding balances, will also play a role when you go to refinance your mortgage as to the risk factor that the lender asses.

Evaluate Different Options and Loan Terms

After speaking with a lender, and after you have carefully analyzed the numbers and decided that refinancing is the correct route, then evaluate the different refinance options in order to choose the best loan. If you have damaged credit, then you will pay a higher interest rate than someone with perfect credit. It is important to consider the actual cost of the entire loan. Lenders fees can vary widely. Insist upon receiving a Good Faith Estimate that lists the specific charges, not a range of charges for each item. This will help you to compare the different lender costs and ultimately help you to determine which loan is best for you.

credit report - Low Credit Score Home Mortgage Refinance

2007-10-26T20:25:00.001-07:00

Get a Copy of Your Credit Report

Make Your Payments On Time

Evaluate Different Options and Loan Terms

Reputable Home Mortgage Refinance Lenders for Borrowers With A Low Credit Score - We maintain a list of recommended mortgage companies online and update the list regularly.

Low Credit Score? Here Are 50 Tips to Improve Your Credit- Read this article to find out 50 things you can do to raise your credit score.
Article Source:http://EzineArticles.com/?expert=C.L._Haehl

credit report - 3 Major Credit Bureaus - Which One Should I Contact?

There are 3 major credit bureaus that have information on your regarding your credit history. Anyone that has ever applied for a loan or credit of any kind has a file at one of the 3 major credit bureaus. Since merchants usually report to only one of the 3 major credit bureaus, you may have to request a free report from all three to get an overall look at your credit report.

To request a free credit report from either or all of the three major credit bureaus, all you have to do is to request a free report online. You can also send the request by mail and you have to provide all your personal information. There are sites that will charge you for a credit report from one of the 3 major credit bureaus, but it is necessary for you to know that by law you are entitled to one free credit report a year. You should contact the credit bureau directly to get your free report.

When you do receive your credit report from the 3 major credit bureaus there are certain sections of this report that you need to pay particular attention to. The first section details your name and address. You should check this to make sure that it is correct. If there are any inaccuracies in this section, you need to contact the credit bureau that sent the report with the correct information.

The next section will give details of your current bills. Each of the three major credit bureaus may contain the same information or one of the three may have different information regarding your credit history depending on which merchants report to that credit bureau. You should also note that you might have an excellent credit record with two of the 3 major credit bureaus and a poor rating with the other.

Check the listing of your bills, the amount of the payment and the due date. If you have been late with a payment or missed one altogether, this will show up on the credit report you receive from the 3 major credit bureaus. You also need to check to see who has been inquiring about your credit history to make sure that no unauthorized person or company has been making inquiries without your permission. When you see that everything is as it should be, then you know that your information is safe with the 3 major credit bureaus. If there are any inaccuracies in the debt information, you will need to contact the credit bureau to start taking the necessary steps to have it corrected.

There are 3 credit bureaus and you need to know about them if you are concerned about your credit report.

credit report - 3 Major Credit Bureaus - Which One Should I Contact?

2007-10-26T20:24:00.001-07:00

There are 3 credit bureaus and you need to know about them if you are concerned about your credit report.

To download a free copy of Peter's Credit Repair book visit Peter's Website Credit Repair Answers and find out about Credit Bureaus and more, including Credit Repair Services, Free Credit Reports, and Online Credit Repair.
Article Source:http://EzineArticles.com/?expert=Peter_Crump

credit report - Tips for Raising Your Credit Score

Do it yourself- Repair Your Credit (Part 2 of 3)
Additional tips for raising your score:

A. Pay credit cards and revolving credit down below 50% of what is available (line amount.)

B. Do not close credit cards after you pay then off. Keep them open. Some people do not understand how this works and will tell you to close your credit cards. That is totally incorrect. In addition to helping to raise your score some loan programs will specifically require a number open and active trade lines.

C. Limit the number of people who pull your credit, whether for a car, cell phone or mortgage. NOTE: you pulling your credit as above is called a "soft pull" and will not show up on your credit and will not lower your score.

D. Want to improve your credit scores by 10+ points? While this is no guarantee, it does work! It is simple and works fairly quickly. You can electronically Opt-Out at one of the credit bureaus. I have seen this improve credit scores up to 20 points. The benefit is that no pre-screened offers for credit cards or other credit will be sent to you from Companies who use the credit report information for pre-approvals. The score improvement is created by limitations of securing additional credit and prevents credit card companies from pulling/viewing your credit without your permission. How do you think you are pre-approved? Now you know. While this does not inhibit you from obtaining credit, it limits the ease of just mailing in a pre-approved offer.

E. Another way to improve your credit score or increase your limited credit is to have you apply for a secured credit card. Exercise judgment when doing this. In cases where you have limited credit, this will add another trade line and help you. You must keep this current and only do this with one or two items not many. See below for more information on this.

How Long Does Information Stay on a Credit Report?
Credit information can, and usually does, stay on a person's credit report for seven years. Collections stay on the report for seven years from the date of last activity -- whether that is the date that the account was filed as a collection or the date the account was paid in full. Here's an example:

"Jane Doe" had a collection for $300 filed against her in October of 1994, and she hasn't paid it. It is now September of 2001, so in a few weeks that collection can come off of her credit report. (She will probably have to request of all three credit bureaus that they take it off.) However, Jane has applied for a loan today, and the loan officer tells her that she has to pay off that debt in order to be approved. Since she has the money, she pays it off. Because the date of last activity is now September 2001, the collection will show on her report until September 2008 -- another seven years.

Bankruptcy information can stay on a credit report for ten years. Information about foreclosures is reportable for twelve years from the date filed. Garnishments, judgments, and tax liens can stay on the report for twelve years from the date of entry or for seven years from the date they were satisfied. Dismissed garnishments, judgments, and tax liens are not reportable.

Type of Information & Length of Time Can Stay on Credit Report
General credit information- Seven years
Collection- Seven years from date of last activity
Bankruptcy- Ten years
Foreclosure- Twelve years from the date filed
Garnishment- Twelve years from the date or entry or seven years from the date satisfied
Judgment- Twelve years from the date or entry or seven years from the date satisfied
Tax lien- Twelve years from the date or entry or seven years from the date satisfied

Continued...
DISCLAIMER: No claims or guarantees are being made as to the result of applying the information herein or to its effectiveness. Always consult an attorney or account for legal or financial matters. We are not responsible for any changes in your credit score as a result of applying this information

Miles Loss
Licensed Mortgage Broker

credit report - Tips for Raising Your Credit Score

2007-10-26T20:23:00.001-07:00

Do it yourself- Repair Your Credit (Part 2 of 3)
Additional tips for raising your score:

A. Pay credit cards and revolving credit down below 50% of what is available (line amount.)

Miles Loss
Licensed Mortgage Broker

For links to the credit bureaus and for their dispute pages see http://www.milesloss.com/creditdisputes

Mortgage and Refinance Miles is a Licensed Mortgage Broker with over 20 years of finance industry experience. Miles is known as the "go to guy" by the Realtors and real estate investors in his area for both Residential & Commercial Mortgages. Miles brokers mainly in Florida but also covers GA, TN, NY and IN.
Article Source:http://EzineArticles.com/?expert=Miles_Loss

credit report - Tips for Raising Your Credit Score

Do it yourself- Repair Your Credit (Part 2 of 3)
Additional tips for raising your score:

A. Pay credit cards and revolving credit down below 50% of what is available (line amount.)

Miles Loss
Licensed Mortgage Broker