Give Yourself a Credit Check Up in 5 Easy Steps
Following the 5 steps listed below will make giving yourself a credit check-up easy and painless. All it requires is a little bit of time and research. The rewards, in turn, can be countless.
1. Just The Facts – It is imperative that you get a crystal clear picture of your credit profile. That means going to a credible credit diagnosis company online and ordering your credit report, credit score and a debt analysis. compare the information you get from the three credit bureaus, Experian, TransUnion and Equifax. Make sure all the information matches up. You should be looking at:
* Late payments
* Wrong addresses
* Incorrect Social Security numbers
* Unauthorized activity
* Unfamiliar inquires
* Errors in credit accounts
2. Correct Mistakes – It is estimated that 90% of all credit reports contain inaccuracies. When you find an inaccuracy, or just suspect one, contact the creditor in question or send letters to the credit bureaus disputing the information in question. The credit bureaus are more receptive than you might first imagine. They are required by law to investigate your claim within 30 days and make all appropriate corrections.
3. Vow to Improve Your Credit Habits – In many cases the individual can take steps to be more responsible using credit. If you are having problems making installment payments then contact that creditor and request a payment plan that is better suited for you. Set goals to reduce existing debt levels. Write out your financial goals and cultivate the discipline necessary to stick to them.
4. Following Up – Following up on disputed errors and to see what kind of progress you have made with your financial goals is imperative. Give it 30 – 60 days and you should see improved credit scores as proof of your foresight and dedication. If inaccuracies and errors remain continue to work to correct them. You can even request to have a consumer statement added to your file. It basically is an opportunity for you to explain marks on your credit record that you don’t agree with.
5. Monitoring Your Credit – To guard against fraudulent activity, identity theft and reporting errors, you should sign up with a reputable credit monitoring service. The credit monitoring service will immediately notify you of any activity and changes to your credit report. Always keep copies of your old reports and be proactive by evaluating your credit reports on a regular basis.
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