How to Fix Credit the Right Way
Are you looking to learn how to fix credit the right way? It usually until it's too late that most people realize the importance of their credit score.
Luckily, it's actually never too late.
There are many things you can do today to improve your credit worthiness tomorrow - even if you already applied for a loan and were denied.
How's that? Because 75% of all credit reports contain factual errors - mistakes that you are being penalized for that may be hurting your credit.
It's true.
One in four reports have errors on them, and 25% of credit reports include misinformation that is affecting your rating negatively.
So your first plan of attack as you are learning how to fix credit is to download a copies of your credit history.
The items on this document is what determines your credit score.
This report can be accessed for free by using the official Annual Credit Report website.
Make sure you only visit the official site as there are many impostors either trying to get you to sign up for a trial offer of their program that will automatically bill you every month after the trial runs out, or they are scam artists requesting your Social Security number.
So beware! Once you have a copy of your credit history report, review it for errors.
Highlight all of the mistakes on the report so you can prioritize which ones you want to have fixed immediately.
By law the reporting agencies must investigate any potential errors you bring to their attention and come to a resolution within 30 days.
If your claim is accurate, they must also send copies of your accurate report to anyone that pulled your credit recently - giving you a second chance to get the loan you want.
But as you are working and learning how to fix credit, you want to focus your attention on the mistakes that will have the greatest impact on your score.
That's because you want the reporting agencies to work fast and in your favor.
If they see you want the address of your former employer corrected along with 20 other similar mistakes, they may not pay particular attention.
However, if you focus on the bankruptcy that never occurred, this will get resolved the fastest and boost your credit score immensely.
You can then work on fixing the more insignificant misinformation at another time.
In order to do this effectively and efficiently, you'll want to do a little more research and find out what items on your report have the greatest impact on your credit score.
Luckily, it's actually never too late.
There are many things you can do today to improve your credit worthiness tomorrow - even if you already applied for a loan and were denied.
How's that? Because 75% of all credit reports contain factual errors - mistakes that you are being penalized for that may be hurting your credit.
It's true.
One in four reports have errors on them, and 25% of credit reports include misinformation that is affecting your rating negatively.
So your first plan of attack as you are learning how to fix credit is to download a copies of your credit history.
The items on this document is what determines your credit score.
This report can be accessed for free by using the official Annual Credit Report website.
Make sure you only visit the official site as there are many impostors either trying to get you to sign up for a trial offer of their program that will automatically bill you every month after the trial runs out, or they are scam artists requesting your Social Security number.
So beware! Once you have a copy of your credit history report, review it for errors.
Highlight all of the mistakes on the report so you can prioritize which ones you want to have fixed immediately.
By law the reporting agencies must investigate any potential errors you bring to their attention and come to a resolution within 30 days.
If your claim is accurate, they must also send copies of your accurate report to anyone that pulled your credit recently - giving you a second chance to get the loan you want.
But as you are working and learning how to fix credit, you want to focus your attention on the mistakes that will have the greatest impact on your score.
That's because you want the reporting agencies to work fast and in your favor.
If they see you want the address of your former employer corrected along with 20 other similar mistakes, they may not pay particular attention.
However, if you focus on the bankruptcy that never occurred, this will get resolved the fastest and boost your credit score immensely.
You can then work on fixing the more insignificant misinformation at another time.
In order to do this effectively and efficiently, you'll want to do a little more research and find out what items on your report have the greatest impact on your credit score.
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