Fixing Your Credit
As you may know, your credit score can help determine everything from whether you need higher deposits on things
like cell phones, utilities, not to mention loans. It can even keep you out of a rental apartment that you might want. And
you may not even know why. Many people don't know or don't bother to check their score. They just chalk it up to life and
go without it. But you don't have to. There are things you can do to fix your credit.
The biggest thing is knowing what is on your credit reports. There are three companies that keep records of your credit
transactions and bill paying. These are Trans Union, Equifax and Experian. All three of them keep reports on your credit
history. Every year, you are entitled to a free credit report from each by law. This allows you to check for any
inaccuracies in the reports. There may be entries on there that you didn't even know about. Perhaps someone used your
card, whether it be family, friend or stranger and messed up your credit. Also someone could have used your social
security number to get services, only to default on those services. Getting your credit report is simple. You can do so
at AnnualCreditReport.com.
Once you know what's on them, deal with any errors that you might see. You will need proof of the mistake in the form of
documents such as paid receipts or perhaps a divorce paper if it involves your ex-spouse. Submit that to the reporting
agency who's report showed the error. Provide any paperwork you may have when you do so. Arguing an entry may take a bit
of effort on your part, and it usually does require some extra phone time if the error is not corrected within 30 days.
In our busy lifestyles, this seems like a pain, but it's something that is worthwhile to pursue. Especially if it helps
you get that car or house you wanted later on.
Debt is generally 30% of your score, so getting this down goes a long way towards getting your credit back up. Not only
will this help you with potential lenders, but will bring down your payments making paying on time easier.
Paying your bills on time is also 35% of your score. This means that if you are behind on your bills, you could see a
serious drop in your credit rating. You will want to do your best to keep your bills up to date if you can.
These and any errors make up 80% of your score. Fixing these three items will certainly help you to fix a bad credit score.
Remember, that you are not scarred for life. There is a way to do this. Just keep with it.