A Good Credit Score is a Precious Resource to Anyone who wants to Finance a home, a car, new appliances, furniture, college, etc.
Maybe you had very high marks on your credit score - but everything got a little 'bruised and dented' in this recent/ongoing credit crunch.
Don't spend all your time worrying about your lower numbers - get busy and help repair the damage with the following tips:
1. Order your credit reports from the top 3 credit bureaus. The names you want are Equifax, TransUnion, and Experian.
2. Examine the reports you receive very carefully. It is almost standard to find at least one error on the information reported on you. It could be typing error, or old/incomplete information. Write down the list of questionable items - and any information you have that will correct the error.
3. Dispute the errors. You can do this either with a dispute form or you can write a letter. Make sure you clarify each mistake and note why it is wrong. Make photocopies of everything, including support documents and send these copies to the various credit bureau.
4. And finally - document everything! and then document everything again! Keep copies and records of everything. Write the date you sent each item on your copy - and keep it handy.
5. One thing I was not aware is the fact that the credit bureau has only 30 days from receipt of your letter to investigate the dispute. And any items that is not able to be verified by a creditor must be removed.
6. Things have really changed since my first job at a credit bureau in the 1960's!
Alice and Jim Hayes are Licensed Realtors with Loveless Realty in Libby, MT. Please call us at 406/293-8364 or 293-1926 or visit our 24-hour open house at www.alicehayes.com
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