How To Fix Poor Credit – Essential Steps (Part I)

In today’s world, good credit is essential. We all use

credit almost every day in some form. If you have any

kind of credit card, have a car payment, or make a mortgage

payment, you are using credit. Most people do not worry

about their credit rating until they run into a problem with it. The most obvious way to find that you have a credit problem is to get turned down for a loan. Some not so obvious ways to find that you have a credit problem is to get turned down on store financing, not being able to pay deposits on

utilities, and having problems renting property. It is

essential to take steps to fix poor credit as quickly as

possible.

Here is Step One to Fix Poor Credit: Get A Copy Of Your

Credit Report

This first step is crucial. You need to be aware of what

all the institutions are reading about your credit history

when they consider you for any kind of credit. All credit

information from banks and other institutions are passed

along to the credit bureaus who in turn hold the key to

credit repair. The big three credit bureaus are Equifax

(equifax.com), TransUnion (transunion.com), and Experian

(experian.com). You can get a copy of your credit report

by writing and asking for a copy accompanied with a

photocopied ID. The easiest way to obtain all three

reports simultaneously is to go online and pay a little

money to receive them. Just go to any search engine and

type in “credit report.”

Your goal to fix poor credit begins by taking a detailed

look at your credit report. Look for any inaccuracies.

Many times you will find mistakes on your file or your

credit information has been confused with someone else

of the same name. Many times a company will report that

you missed a payment when you really didn’t! If you find

such inaccuracies, you can fix your poor credit by

requesting, in writing, that the credit bureau investigate

the disputed items. If you have any supporting

documentation, include copies of it. If the credit bureau

cannot verify the information you are disputing, by default

it must be removed from your file. If the bureau doesn’t

respond to your request for an investigation within thirty

days, the information in dispute must be removed. Make

sure to dispute even the smallest discrepancies.

If your credit report lists debt that has not been paid and

this is actually the case, you must immediately make

arrangements with the entity owed. If you delay too long

the bad marks will stay on your report for many years.

Call and try to make payment arrangements. Ask to have

them remove any negative remarks on your report in exchange

for some prompt payments. Anything is negotiable, so give

it your best shot! This is the first step in the quest to

fix poor credit.

Source by D Ellenwood

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