Joe Goertz asked:


In this country, there are three major credit bureaus: Experian, Equifax and Trans Union. They offer information to lenders about a person’s credit score. The lower your credit score, the less likely you are to get credit. Each credit report comes with “score reason codes” to explain why your credit score is where it is.

It is up to you to know what is on your credit report and keep the data up to date. You might have paid your bills on time, but your credit report may show that your credit is less than perfect. You may have had a credit dispute with a merchant that was corrected, but not shown on your report. You may have a bankruptcy that was not properly recorded. You may also have experienced credit fraud.

You can fix your credit profile. You can make sure that you aren’t carrying more debt than is reasonable for your income level. Avoid late and non payments. Make sure that there are no judgments or liens against you. You should also avoid co-signing loans because they are considered your financial liability. If the co-signer defaults, it will be your responsibility to replay the loan. You should avoid unnecessary checks of your credit. Each credit inquiry is recorded and remains on the books for two years. Lenders seeing too many inquiries may think that you are unable to support your current debt and are looking for more credit to support it. Having excessive unused credit is not good. A lender will check to see how much credit you actually have. If you have too much, the lender might worry that you will use up all your credit in a spending spree after you secure a new loan or mortgage.

It’s important to see your credit score and keep it up to date. Most lenders are concerned about your credit activities during the past year or two. You want to make sure the report is accurate for this period and contains no errors. Depending on how inaccurate your credit report is, you may not be given additional credit. This is especially crucial if you are applying for a mortgage. It is not impossible to get a mortgage with less than a perfect credit report, but the amount of the loan and the interest on it will be higher if the lender decides you are a risk.

How do you keep your credit report up to date? There are services, such as Equifax, that will provide a credit report to you and advise you on how to make changes. They will usually update you twice a year on your credit history. They may even advise you when you are approaching your credit limit. Under federal law, you are entitled to a free annual credit report from Experian, Equifax and Trans Union. You should go to http://www.annualcreditreport.com for more details.

Make sure that when you decide to fix your credit report that you do it the right way. The Federal Trade Commission (FTC) warns consumers to beware of companies that guarantee that they can remove late payments, bankruptcies, or similar information from your credit report. Stay away from companies that charge a lot of money to repair credit, keep asking you to verify information that you have previously verified, refuse to give you their address or push you to make a decision immediately.



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Kathleen Chester asked:


 

Fixing a credit report can be a slow and tedious process. It includes hours of assessment and thinking. However there are some companies that claim to quickly fix your credit report and make you financially credible. These services are usually offered by the independent credit reporting agencies and are used by mortgage lenders or brokers who try to get better loan terms for their borrowers.

 

Bad credit scores can hamper your credibility and chances of getting a credit. In such a case, you need to fix your credit report. A credit report can be fixed by removing errors. This process can help to boost a borrower’s credit score in the midst of the lending process and get a loan or a better interest rate for them than might have been possible otherwise.

 

Unlike the past when most of the lending decisions were man-made, most of the decisions today are automated, using computers and credit scores. This system has dramatically declined the opportunities to get special treatment and errors are a more serious problem these days.

 

If by the mistake of the machine, someone else’s bankruptcy is reported in your credit file, you can lose hundreds of points off your credit score and your credit application likely would be rejected. Even the slightest errors can beat enough points off your score for the lender to turn you down your application or charge a higher interest rate.

 

You can however wait for the mistake to be fixed through the normal channels which involves writing the credit bureau and waiting up to 30 days for an investigation. This process is however very long and takes too much of time. The home sales and refinancing can fall through in the time it takes to fix problems.

 

You can fix your own credit report and make the repairs. Here are some of the important steps that you can follow while fixing your own credit report.

 

· Make regular reviews of your credit report to keep an eye on any errors flowing in. You can get a copy of your credit history from each of the three major bureaus and review for errors, outdated information and accounts that aren’t yours. In case of any problems, you can consult the bureaus about how to dispute these items.

 

· You can contact your creditors if the bureaus say the creditors have confirmed the information you think is incorrect. In that case you may need to directly argue your case with the creditors. If the creditor accepts his mistake and agrees to remove the item from your credit report then make sure you get a acknowledgement letter for the same from the creditor.

 

· Keep a good record pf all thee paperwork that is generated by these disputes and investigations. You may need to present this to the credit bureau, or your loan officer, when required.



credit report

Jennifer™ asked:


I know that my credit isn’t that good (apartment searching taugh me that), and I wanted to know how to look up my credit score for free online or how ever else. I already tried “Free” Credit Report.com and well… it ain’t so free you see >:-P So I was wondering if any of you smart people out there would be able to help me out with my search, I would greatly appreciate it Thank you all for your time.

Rhonda

Bryan Burbank asked:


Having a high credit score is crucial when you are trying to get a new loan for a car or maybe a house. Most lenders will look at your credit score to determine if you are worthy of approving a loan for. Your credit report will show if you have been late on any payments to any loans you have or and credit cards. Your report will also show were you currently live and where you have lived in the past. It is important to have a high credit score but you also want to make sure that your the information on your credit report is accurate.

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When a lender checks your credit report they usually will get the report form the three main agencies, Equifax, Experian and Transunion. It is important that you get your report from them at least once a year so you can check to make sure everything is accurate. The good thing is that you are entitled to one free credit report every year form each agency so this makes it easy to keep track of.

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If you find that there are some things on your credit report that you do not agree with then you can file a complaint with the credit agencies and they then have to verify the information in question. They will contact the person who reported the information and by law they have 30 days to respond. If they do not respond then the item must be removed from your report.

Remember that when you are monitoring your credit report that you always make sure that it is accurate.



Bobby

Bryan Burbank asked:


Your credit report is important to you because it will determine whether or not you can get approved for a loan. In your credit report you will find information about your past credit payment history as well as places you lived and places you have worked. It is important to make sure that you credit report is accurate and the best way to do that is to check on it periodically and make sure everything is OK. there are times when the credit agencies have false information on you are the wrong information and it is very important for you to keep track of what it says.

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When you go to apply for a credit card or any type of loan then you can be assured that the lender will look at your credit report and check to see if you are credit worthy. You can sometimes still get a loan if you have bad credit or late payments but what will happen is that you will end up paying a higher interest rate  on the loan and this will cost you more money over the life of the loan.

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You are entitled to a free credit report once a year and you should take advantage of getting yours. Also if you have been denied credit you can also obtain a free credit report. It is important to dispute any items on your credit report that are untrue and make sure that they are corrected.

Remember that your credit report is your life line to obtaining a loan at a good interest rate so you need to protect it.



Cindy

alley_bg asked:


I’d like to check my credit score online for free. Does anyone know a website that does not require a credit card to check it? Thanks!

Travis

Helen Hecker asked:


Assuming you already have a copy of your annual credit report you may have already found some errors that should be removed. Errors should always be a big concern because they can and probably have affected your credit score, also called a FICO. You can repair your credit with a little bit of help.

It may seem like a lot of work but it’s really easy. The hardest part is actually sitting down to do it. You’ll need to check all three credit bureaus to make sure the same error isn’t on all three but if you just have one credit report, start with that one.

First make a list of any and all errors that you find on your personal credit report. These could be in the form of personal information such as birth date or more likely there will be information that you know not to be true such as late payments or no payments recorded etc. If you think there is any possibility that you could be wrong check your past history with the creditor in question first.

You want to make sure you are right before you make the request to have any information removed from your credit report.

You will be sending the letter only to the credit bureau mentioned on the report, which would be Esperian, Equifax or TransUnion. You don’t want to sound angry in the letter, just be matter-of-fact, straightforward and business-like. Just outline the facts - name of creditor, dates, and the error(s) or problem(s) you’re finding on the credit report.

Here is a sample letter:

Date:

To whom it may concern at Esperian (or other credit bureau):

I recently acquired a copy of my credit report and found some errors that I’d like to dispute. I am enclosing documentation to prove the information is incorrect and would like a correction. I value my good standing and good credit history and want to maintain a good credit rating and credit score.

Name the creditor along with the reference date including the month, day and year if possible.

The error(s) I have found are:

I’m including copies of my payment record, with a (cancelled check or online payment print-outs or any other documentation that you have).

I would appreciate any attention to the matter as I would like my credit report to be accurate. I’m sure you understand that credit bureaus need to include only information that is accurate in my file.

Thank you for taking a look at my letter and file and hopefully making the necessary corrections so I can continue to maintain my good credit standing. Please let me know that my file has been reviewed and what action has been taken. I would also like a copy of my corrected credit report sent to the enclosed address. Thank you.

Sincerely,

Besides your full name as shown on the report, include you mailing address, a copy of the report that you have, your social security number, driver’s license photocopy and any other documentation such as a cancelled check or online payment confirmations.

Make a copy of the letter for yourself and a copy of any enclosures with the letter. Send the dispute letter by certified mail with a ‘return receipt’ requested. Then make sure to get the free credit reports from the other two main credit bureaus or reporting agencies to make sure they don’t have the same incorrect information. You can get free instant credit reports from the other two online.



Don

mrfrudd2006 asked:


I heard than anyone can order their free credit report and score for free once annually on several websites. If you know how to do this, what website is really safe and how could you tell a site is a scam to just collect personal information to sell to fakes?

Gilbert

Anna Josephs asked:


Credit report score help to know how credit worthy you have been. Credit report is your personal financial report card in other words it’s nothing but all your credit history. Your credit report can affect your daily life from where you live and work to how much you pay for a loan or insurance. Here’s a guide to protecting your financial reputation

Unfortunately many of us do not know our credit score, if you take an approximate you will come to know that only 33 percent of consumers know their credit scores according to Government Accountability Office.

As important as it is to know how much money you have available before you write a check, it is equally important to know your credit score and what is on your credit report. Not knowing these things could cost you money.

You can have a copy of your credit report and one should know where he financial stand at the end year. This credit report keeps all the track of your purchasing and payments of your bills and many other financial matters.

This credit report helps agency to determine whether or not to give you a line of credit or loan you money. As higher the score, the les risk the lender believe you to be. As your credit score climb you interest rate you are offered probably decline.

The credit report lists your each and every financial detail, like the account you have open, even if it contains a zero balance.

Anna Josephs is a freelance journalist having experience of many years writing articles and news releases on various topics such as pet health, automobile and social issues. She also has great interest in poetry and paintings, hence she likes to write on these subjects as well. Currently writing for this website Free Yearly Credit Report . For more details please contact at annajosephs@gmail.com



Martin

heavenly2521 asked:


Where can i go online to get a Free Credit Report without using a credit card or having to pay..
I’am needing my credit score ASAP without paying

Beverly