t is possible to fix your your credit report.
bad credit, with time,
patience and determination. Unfortunately you can't remove
The first step in repairing poor anything negative that is
credit is fixing any problems you accurate information about you.
may have with money. Only time can do that. But adding
more good information does help.
1) Get a credit reports on
yourself and check out what is on
them. To get yours free go to 3) If your credit needs repair,
www.annualcreditreport.com. You start work on it now. Start
are allowed by U.S. law to get a paying off old unpaid debts and
free copy from each of the three loans, starting with the smallest
major credit companies once every ones.
12 months.
4) Start paying more than the
2) Once you have your credit minimum payment on your current
reports, check them for accuracy. credit card payments.
If there are any errors or things
you disagree with, you are 5) Do not get into any new debt.
entiltled by the Fair Credit This is essential. Make it a
Reporting Act law to dispute priority to get out of debt. Cut
anything in the report that is up (or lock up) the credit cards,
not accurate. Write to the credit if they are a problem for you.
reporting company and explain Make it a commitment to become
what the problems are. They will debt free.
then investigate the matter and
let you know what happens. If 6) Live within your means. Make a
they find the information is not budget and live by it.
accurate, they will fix that on
7) Start saving money. If you
have poor credit, it is much There are many "for profit"
easier to buy a home or a car organizations that will help you
with a cash down payment, than with debt consolidation loans,
without one. but beware! They often are very
expensive. You can get free
There are many sources of help reliable help that you can trust
available. Consumer Credit from a non-profit organization
Counseling Service is one of the like Consumer Credit Counseling
best for help repairing credit Service instead of paying
and getting debt under control. hundreds of dollars to one of
Their website is located at them. Or, you can educate
http://www.cccsintl.org. Consumer yourself and do it for free.
Credit Counseling Service
provides budget counseling, Some other good places to go
educational programs, debt online for more credit and
management assistance and housing financial advice are listed on my
counseling. There are also many website at
local branches of this nonprofit http://i-can-buy.com/resources.ht
organization, so check for one ml.
near your location.
About the Author:
By Alexis Dey "© 2006. For ideas on how to buy a house when you can't qualify for a home loan because of poor credit, look for the FREE e-book, "Buying a Home When You Have Bad Credit," at http://I-can-buy.com.
Source: www.isnare.com
