Tips To Improve Your Bad Credit Rating
Are you having a bad credit rating? If so, this article is for you. We all know that it is very difficult to get any loan (be it a car or home loan or whatever loan you wish to apply) if we have a bad credit rating. If you find yourself in this situation, it is best for you to consider to get bad credit help. Read on as we are going to provide you some great information and tips when getting a bad credit help in this article.
Here are the steps you should follow when you are getting help to improve your bad credit rating:
First, you must request your credit reports from the 3 main debt reporting agencies; Experian, Trans Union and Equifax. Once you have received your credit reports from these agencies, study the reports thoroughly for anything you might want to query and clarify. The reports may contain a lot of incorrect or inaccurate information such as incorrect personal details, lapsed judgments, illegal transactions or transactions that you don’t recognize, and so on and so forth. Do not assume everything stated in the reports is correct. You MUST go through each item carefully.
When going through your credit reports, highlight and write down the items that you are going to clarify. After that, write letters to the agencies and explain in details why you are disputing the items, make sure you enclosed proofs and relevant information to support your claim. Also, send your letters by using certified mail to ensure that the agencies get them.
If the agency accept your queries, and they may be more accommodating that you might think, that’s great. If not then either go back to them again to either dispute their findings or write an explanation outlying your grievances that will accompany your credit reports. This will mean that anyone making an inquiry finding out what is a black mark against you will get an explanation that either mitigates you or will declare your unwillingness to accept that mark.
After you have gone through all your credit reports and dispute all the suspicious items, the next step you should take is to look and consolidate your debt. Start checking all your debts, we suggest you start from those that have the highest interest rate. Once you have looked through your debts, make effort to start paying off the debts that have the highest interest rate. By paying off these debts, it can help a great deal in improving your credit rating quickly.
If you find that you are having trouble consolidating your debts, you may want to consider contacting a non-profit debt counselor that will help to group all of your debts into one and extend the term to reduce your monthly payment. They may also be able to negotiate a lower interest rate for you.
The most difficult thing people encounter when trying to improve their credit rating is to start paying off their debts. Although it is difficult but you must do it in order to improve your credit rating. Start listing all your expenses and make the best effort to cut down expenses that you don’t need. If you have credit cards that you don’t use, close them down.
Also, find ways to increase your monthly income by working part-time or get into online business opportunities that require very low start-up cost to start. Check out the links below for some great online business opportunities that can help you to increase your monthly income in under 3 months.
Want to know how to earn extra income online? If you answer yes, then check out these links: The Blueprint Project Black Edition and The Blueprint Project Review. These programs can help increase your monthly income in under 3 months!
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