Module 01 WHAT'S ON YOUR CREDIT REPORT?
Your credit report is an essential part of your day to day life, even if you may not realize it at first. Your credit report is used by credit lenders, home mortgage lenders, insurance companies and even employers when each of them determine if they should, or should not, work with you. Do you know what is on your credit report? If not, there has never been a better time than right now to find out.
Module 02 LOCATE THE CREDIT REPORT MISTAKES
There are going to be mistakes on your credit report. The number of mistakes is not as important as noticing them. Each of the three credit bureaus legally must take into consideration the information that you provide to them about mistakes. They do not have to make the changes you request unless the credit lender that put the information there is unable to prove that the information is correct. In the next chapter, we'll outline how to get those mistakes off the report. Before that, though, you need to know what types of mistakes to look for and why you need to remove them. Don't skip this step. If you fail to remove all the information that is incorrect on your credit report, you may not be getting it as clean as you could be.
Module 03 HOW TO CLEAN IT UP
Now that you have taken the time to find the mistakes on your credit report, the next step is to get them off there! The credit bureaus are only collecting information. They never see accounts or payments. They do not work between you and the lender, either. The first course of action for you to take if you notice a problem is to go to that lender and ask questions. This is particularly helpful for recent information or transactions. For example, perhaps you have noticed that a payment did not post or that someone had a listing as late when it was on time. Your creditor does have the ability to change remarks left on your credit report. They do not always do this instantly, though. It may take until the next reporting that they provide to the credit bureaus. What is important is that you call them and let them know of the mistake. They can then give you instant access to information. Do they have your payment listed as being late? Did they make a mistake in your credit usage? This information should be understood by you prior to filing a claim directly with the credit reporting agencies. That way you know what the facts are and can deal with them appropriately. Calling your creditor and asking them questions about your credit report is an option to consider. They may or may not be able to clear up the problem, though. You will still need to ensure that the mistakes are removed from your actual credit report, too. Even if they assure you that the mistakes will receive removal in the next 30 to 60 days, follow up and make sure that this happens.
Module 04 10 WAYS TO IMPROVE YOUR CREDIT SCORE
Your credit report is one of the most important tools you have in the financial world. It defines who you are to lenders of all types. Removing errors from your credit report, or "cleaning it up" is only one part of the process. You need to ensure that you are doing everything possible to keep your credit report in stellar shape so that you also look great in the eyes of a credit card company or home mortgage lender. Part of this process is to tackle the errors on your credit report. That is the right place to start since this information is hurting you for no real reason. As you wait to find out if the errors will be removed by the credit reporting agency, take some time to work through the following steps. These ten methods to improving your credit score are simple and straightforward, but they also provide you with the resources you need. They may not be easy to do and most of them require time. Nevertheless, making key decisions right now will help you to get back on track and have a high-ranking credit score. Keep in mind the importance of a quality credit score. With many banks and lenders tightening their lending practices, they simply are not giving out the types of loans you may be used to getting with an average or lower credit score. In fact, if your score is not in the upper 700's, you may be unable to get a home loan without a significant amount down. The days of having a 400 credit score and getting a great line of credit may not be back anytime soon. Therefore, take steps right now to improve your credit score so you do not have to hope that you can get that home of your dreams.
Module 05 IT TAKES TIME
One of the hardest elements to come from the entire process of improving your credit report is that it takes time. Sometimes, it takes a long time. Those who find errors on their credit report will have the ability to remove them which may or may not give you a boost in your credit score. This depends greatly on the type of mistake you have removed. For example, if you remove problems with: Your name Your address Past employers Other personal information Chances are good that you will not see any change in your credit score since these items do not have a direct link to it. On the other hand, if you find mistakes and have them removed like those in the following list: Debts that are not your own that are removed Outdated debts that are negatively impacting your credit score Collection accounts or judgments removed Inquiries Late payments, missing payments Over the limit reportsOr similar types of items, you should see a rise in your credit report for doing so. The amount of increase is really unknown since these complex formulas are not made public knowledge. The key is that over the long term, such as in the next six months to a year, you will no longer fell effects by the negative mistakes and this will help to boost the ongoing credit score you have.