If you know that you are what is called a "credit risk," you probably are feeling that as a derogatory connotation. That can be the motivating factor for you to explore the return to good credit.
For many folks, it will be possible for them to manage their path back to "good credit." through their own determination and willingness to confront the problem.
The "credit risk" label is based on your "credit report" and "credit score." Therefore, you need to know what those are all about. The credit score is a very important 3 digit number that a "credit risk" will need to raise. A score of 700 or more is "good." If the score is under 700, this might be problematic. This information is essential to the repair process.
You can gather this information by securing your credit reports. Don't be afraid to look at them. They will provide essential information. Arrange to get these reports from the Credit Bureaus. There are 3 credit bureaus: Experian, Equifax, and TransUnion. You are entitled to a free report from each once a year. There is a charge for the credit score. See www.annualcreditreport.com for details.
A business does not always report to the same credit bureau. Therefore, you want to see all 3 reports for comparison. It is possible that they may differ.
After the comparison, examine each report for errors. Determine the nature of the error or errors and DISPUTE THE ERRORS. This will take some time but you are the one who has to fix it.
Contact the credit bureaus in writing with a copy of the report, the errors and reason why you need to have it rectified. Remember to keep copies of everything you send. There's an old saying: "If it's not documented, it didn't happen."
This is essential information for you to have because there may be some unexpected surprises on those reports. Stay with the process, confront the issues. - 16928
For many folks, it will be possible for them to manage their path back to "good credit." through their own determination and willingness to confront the problem.
The "credit risk" label is based on your "credit report" and "credit score." Therefore, you need to know what those are all about. The credit score is a very important 3 digit number that a "credit risk" will need to raise. A score of 700 or more is "good." If the score is under 700, this might be problematic. This information is essential to the repair process.
You can gather this information by securing your credit reports. Don't be afraid to look at them. They will provide essential information. Arrange to get these reports from the Credit Bureaus. There are 3 credit bureaus: Experian, Equifax, and TransUnion. You are entitled to a free report from each once a year. There is a charge for the credit score. See www.annualcreditreport.com for details.
A business does not always report to the same credit bureau. Therefore, you want to see all 3 reports for comparison. It is possible that they may differ.
After the comparison, examine each report for errors. Determine the nature of the error or errors and DISPUTE THE ERRORS. This will take some time but you are the one who has to fix it.
Contact the credit bureaus in writing with a copy of the report, the errors and reason why you need to have it rectified. Remember to keep copies of everything you send. There's an old saying: "If it's not documented, it didn't happen."
This is essential information for you to have because there may be some unexpected surprises on those reports. Stay with the process, confront the issues. - 16928
About the Author:
With unprecedented problems in the credit markets it's more important than ever to have excellent credit. For more information check out Rob Kosbergs' Detailed FREE Guide on Maintaining and Repairing your Credit Score by going to Bad Credit Repair for your FREE information.
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