We have mentioned in our previous what is credit repair article that credit repair is a process. This process consists of certain stages. However certainly, the most important thing is to seek an answer for what should I do before start credit repair. This question is both easy and challenging to answer, how? Let’s start…
The important about credit repair is to have complete knowledge about the process. The process can be prolonged due to lack of information or negative outcomes may be achieved. In this sense, one of the most accurate things to do is getting expert opinions. Of course, you should avoid identity thefts, which carry out operations under the name of credit repair companies. Well, how can you figure these out?
Like in everything, references are very important in the selection of credit repair companies, agencies, and institutions. References of our close circle, who benefited from credit repair, will show us the right way. Or comments on forums can also lead the way for us. Here, the following question may pop up in our minds. Do I really need a credit repair companies? In fact, you are not. Why?
Is the credit repair company a must?
Let us explain. In fact, you do not need any credit repair company. You can carry out some or all of the procedures, which carried out by the companies, on your own. For example, individuals have the right to learn information on their credit reports, and thus why their loans are rejected and whether there are any negative actions taken for free once in a year from the credit reporting agencies. In this sense, you can ask for a print of your credit report from any credit reporting agencies and note down the negative articles in the papers.
As it is known, credit score is the indicator of whether an individual cares his or her financial liabilities as he/she should be. In other words, the credit score of an individual, who managed to ensure a balance of payments, will be higher. Main events which make up the credit score are the information known by credit card issuers and lender companies. In short, your financial history constitutes your credit score.
Poor credit score may negatively affect your actions such as buying a new house or car, receiving consumer loan and even make these difficult to complete. In case you have a poor credit score, this doesn’t mean that everything will fall apart. Credit repair services step in at this stage and it will help you to correct your mistakes and improve your credit score. Of course, the most important thing in here is related to you. Where should you start?
Where should I start credit repair?
You will start by knowing what to repair. There is information about the cause of your poor credit score on your credit report. This information includes overdue accounts, debt collections, high credit card balances or public records. You have to read your credit report well. I’m kind of hearing you asking, “how can I get my credit report”. Here is the answer…
According to the laws, you can get a free credit report from each of the three credit bureaus. For now, you can get this report only from annualcreditreport.com. If deemed as appropriate you can get it through phone, e-mail or order. In case you already got the free report before, you can also get it by paying its fee. To do so, you can order your credit report through myFICO.com. Well, you got your report and what you need to do now?
As we mentioned before you have to read your credit report very well. How should you read your credit report? First, examine the mistakes. In case you are reading it for the first time, take a few days to read and check everything which can be considered as a mistake. Get familiar with every information written on the report. After that note down the information to be fixed. For example, determine information such as accounts don’t belong to you, incorrect payments, the number of accounts exceeding the credit limit, payments received but not recorded.
In this article, we sought an answer to the things you have to do before you start the credit repair. You can check out all the information you wonder regarding the credit repair and ask your questions by leaving a comment.