Let's face a friend. Many of us can not afford to pay big items in cash. The sad truth is that many of us can not buy small cash tickets either.
Most of us know that most creditors use credit reporting agencies to obtain information about a person. The top three agencies are Equifax, Experian and Trans Union. These agencies or repositories simply accept your information as it is transmitted electronically. They do not check the accuracy of the information that reaches them.
Friend, when you apply for a loan, a credit report is requested from one or more repositories. Along with this information, the local credit company provides a digital credit score for you. This credit score represents a composite of your credit history, employment, ability to save, and so on. This score may change daily favorably or unfavorably depending on the information received by the deposits. The higher your credit score, the higher your credit rating, the more favorably you are considered and, potentially, the lower the interest rate charged to you.
Most of us do not have an impeccable credit. Even if you pay all your bills on time, you probably do not have perfect credit. When we seek to finance something, we want, of course, to get the best possible interest rate.
Credit bureaus are nothing but custodians and have no legal power over you. Since offices have made so many mistakes in the past, all federal laws regarding credit information are very much in our favor.
The best kept secret for increasing your credit score is to have someone with an excellent credit score. their credit card accounts. In a few weeks you will see an improvement in your credit score because of the association.
There are eleven steps to repairing and improving your credit score:
1) Get your three credit reports;
2) and identify the negative elements;
3) Disseminate negative elements with offices;
(4) The disputed articles are deleted or corrected;
5) Negotiating with creditors and collection companies
6) After negotiating and making payment, creditors remove negative accounts or pass to a positive rating;
7 Indicate the object you are challenging, but do not use the dispute forms or the file numbers provided by the office. 8) Do not confirm the account if information about the article is incorrect;
9) Do not use letterhead (you do not want to lift red ink). Flags);
10) Do not photocopy a filling form (another red flag);
11) Dispute disputes during busy times of the year. For example, the Christmas rush for the creditor and the office can be a time that catches them before they can conduct a thorough investigation within a reasonable time.
Remember that federal credit laws are in our favor. We have the advantage. When we dispute an item, the office must verify the accuracy of the information, which a creditor has reported, within 30 days, otherwise it MUST be withdrawn.